Insurance UK

  • 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.

  • November 7, 2017

    EIOPA Plans To Simplify Rulebook's Solvency Requirements

    The Europe Union’s top insurance regulator has proposed far-reaching simplifications to Solvency II in a move that may help soothe industry worries about the bloc’s formidable capital rulebook.

  • November 6, 2017

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

    The last week has seen Merrill Lynch suing Venice over financial transactions, China's state-owned export credit insurance provider sue an energy exploration firm, and a troubled Gibraltar investment fund suing a law firm. Here, Law360 looks at those and other new claims in the U.K.

  • November 6, 2017

    UK Insurers Told To Find New Arbitrator In WTC Dispute

    A pair of U.K. insurers were ordered by a U.K. High Court judge on Monday to appoint a new arbitrator in their dispute with Tonicstar Ltd., an indirect subsidiary of Berkshire Hathaway Inc., over reinsurance liabilities arising out of the attack on the World Trade Center in New York in September 2001.

  • November 6, 2017

    Key Driverless Car Insurance Regs Flexible, UK Official Says

    Insurance will be fundamental to the growth of the driverless car market, and the nation will need a flexible regulatory approach, a senior U.K. government official said Monday.