Insurance UK

  • November 10, 2017

    World Regulators Push For Tougher Insurance Governance

    A global regulatory forum has handed instructions to watchdogs telling them how to monitor the governance frameworks of major insurance groups, as it pushes to standardize supervision from the top down.

  • November 10, 2017

    Insurers Wasting Money On Solvency Models, Report Says

    London insurers spend a total of around £20 million ($26.3 million) to set their own capital buffers each year, but many are failing to reap the full benefits, a trade group has warned.

  • November 10, 2017

    UK Litigation Roundup: Here's What You Missed In London

    The last week has seen the Premier League bring a copyright claim against Barclays, Bank of Scotland sue an NHS trust and another suit from liquidators at Bilta who have been accusing banks of participating in a vast carbon trading tax fraud. Here, Law360 looks at those and other new claims in the U.K.

  • November 9, 2017

    Lords Committee Warns Gov't Banks Won't Wait For Brexit

    A senior figure in Britain’s upper parliamentary chamber said on Thursday that a transition period to help the financial services sector after Brexit is "urgently" needed to help prevent an exodus of firms from London.

  • November 9, 2017

    UK Compensation Body Says Judgment Vindicates Its Work

    The U.K. company responsible for compensating the victims of uninsured or “hit and run” drivers has applauded a High Court ruling that its car crash payout agreements are completely legal.

  • November 9, 2017

    'Equivalency' Regime Will Not Ease Brexit Fears, City Warns

    A governor of London’s Square Mile of financial services and insurance firms warned on Thursday that an agreement between the U.K and Europe on an equivalent regulatory regime would be "too uncertain" to help cut the risks posed by Brexit.

  • November 9, 2017

    Firms Seek Terror Insurance To Cover Interrupted Trade

    The Federation of Small Businesses urged the U.K. government to change the law on Thursday to extend state-backed reinsurance to cover trade losses suffered by its members when police investigate terrorist attacks.

  • November 9, 2017

    Insurers Urge EU To Steer Uninsured Drivers Off Road

    The European Union should take steps to reduce the number of drivers who do not have third-party insurance and urge member states to help force them off the roads, an insurance lobby said Thursday. 

  • November 9, 2017

    Ex-UK Supreme Court President Joins London Chambers

    Lord David Neuberger, who recently retired from the post of U.K. Supreme Court president, has joined One Essex Court as an arbitrator, the London-based barristers’ set said on Thursday.

  • November 9, 2017

    PRA Sets Out Reforms For Risk-Hungry Insurance Groups

    The U.K. Prudential Regulation Authority proposed reforms on Thursday to improve management and financial planning in the insurance sector, targeting companies with high appetites for risk and fast-changing capital reserves.

  • November 8, 2017

    UK Tribunal Tosses Insurer's Bid To Regain FCA Permissions

    A U.K. tribunal judge has sided with the Financial Conduct Authority by striking out a case brought by an insurance company over its regulatory authorization, saying it is unlikely to succeed at the Upper Tribunal.

  • November 8, 2017

    Global Regulators Eye Change To Insurance Risk Management

    A forum of global insurance regulators proposed changes on Wednesday to the core standards that govern the investment activities, risk management and corporate governance frameworks of firms in the sector, as it seeks to streamline international supervision.

  • November 8, 2017

    Industry Urges Gov't Not To Raise Insurance Premium Tax

    U.K. insurers pressed Chancellor Philip Hammond on Wednesday not to “punish” consumers by raising insurance tax premiums for a fourth time since November 2015.

  • November 8, 2017

    High Court Rules Off-Road Vehicles Ought To Be Insured

    The High Court in London has suggested that the U.K. should extend compulsory motor insurance to include vehicles on private land, calling on lawmakers to adapt domestic legislation to satisfy tough rules from Brussels.

  • November 8, 2017

    Ex-UK Supreme Court Judge Joins Chambers' Arbitration Arm

    London-based barristers' set Quadrant Chambers announced on Wednesday that former U.K. Supreme Court judge Lord Anthony Clarke has joined as an arbitrator.

  • November 8, 2017

    FCA To Probe Competition Hurdles In Wholesale Insurance

    The U.K. Financial Conduct Authority launched a sweeping investigation into competition in the wholesale insurance market on Wednesday, promising to look at the power of brokers to raise prices and examine barriers to entry.

  • November 7, 2017

    Landmark Dishonesty Ruling Tips Scales Toward Prosecutors

    A high-stakes case at Britain’s highest court that ended in defeat for top poker player Phil Ivey is a seismic ruling with huge ramifications for criminal law and individuals accused of fraud, lawyers say, as it hands more power to prosecutors ahead of several major trials where bankers stand accused of rigging rates and markets.

  • November 7, 2017

    Underwriters Seek Changes To Their Solvency Calculations

    A trade group for Lloyd’s of London proposed changes on Tuesday to the way insurers calculate the size of the capital buffers they must hold under the European Union’s capital rulebook, nearly two years after it became law.

  • November 7, 2017

    UK Gov't To Release 'Secret' Brexit Studies Within 3 Weeks

    The U.K. government will release redacted assessments of how Brexit will affect major industries, including legal and financial services, within three weeks, Brexit Secretary David Davis said on Tuesday.

  • November 7, 2017

    'Deceitful' Ex-Underwriter Avoids Jail For Insurance Fraud

    An experienced U.K. underwriter who used five different names to make fraudulent insurance claims worth more than £19,000 ($25,000) has been handed a 15-month suspended sentence, police said.

Expert Analysis

  • BigLaw’s (Crowded) Passage To India?

    Mark A. Cohen.jpg

    The imminent green light for foreign firms to get into India’s market will be a bellwether of law firm behavior. The impulse to follow the crowd into the new frontier will be great, but smart firms will take a long hard look at who they are before making the passage to India, says Mark A. Cohen, an adjunct professor at Georgetown Law School and founder of Legal Mosaic LLC.

  • How To Navigate London's Aviation Insurance Claims Process

    Erica Villanueva

    Companies do not always anticipate some of the unique challenges that U.S.-based insureds face when making a claim under their Lloyd's aviation policies. For example, many U.S.-based insureds will be unable to avoid arbitrating their claims in London. It is probably to the policyholder’s advantage to choose U.S.-based arbitrators, even if that option is more expensive than London arbitrators, say Dennis Cusack and Erica Villanueva ... (continued)