Insurance UK

  • February 09, 2024

    UK Insurers Agree To Pause Sales Of Asset Protection Cover

    The Financial Conduct Authority said on Friday that eight out of 10 providers of guaranteed asset protection insurance have stopped selling the product, after the watchdog warned that customers may be getting ripped off.

  • February 09, 2024

    UK Regulators Need 'Growth Mindset' Lloyd's Boss Says

    Financial watchdogs needed to change their mindset on international competitiveness in order to align with the U.K. government's plans for economic growth, the chair of Lloyd's of London said.

  • February 09, 2024

    Woodford Investors Get Court OK For £230M Redress Deal

    Investors in Neil Woodford's failed £3.7 billion ($4.6 billion) fund will get payment under a £230 million settlement scheme backed by the financial watchdog after the High Court signed off on the arrangement in a judgment published on Friday.

  • February 09, 2024

    UK Pensions Watchdog Faces New Wave Of Walkouts

    Workers at the U.K. pensions watchdog are planning another 12-day walkout after negotiations over pay demands failed, their union has said, marking their second strike action of 2024.

  • February 09, 2024

    FCA Sets Out Crime-Fighting Priorities For Finance Firms

    The finance watchdog has set out four priorities in its fight against financial crime as it emphasizes the damage caused by offenses such as money laundering, evading sanctions and terrorist financing.

  • February 08, 2024

    Apt. Owners Can't Avoid Arbitrating Ida Damage, Insurers Say

    Seven New Orleans-area property owners must submit their Hurricane Ida damage claims to arbitration proceedings regardless of whether one of two foreign conventions applies to the case over the other, a group of 10 insurers told a Louisiana federal court.

  • February 08, 2024

    Pension Reform Needed To Plug Growing Savings Shortfall

    Only 40% of households with defined contribution schemes will have enough saved for a moderate standard of retirement living by 2040, an insurer has said, arguing that higher pension contributions could prevent a "bigger cost-of-living crisis" in the future.

  • February 08, 2024

    Pensions Regulator Boosts Data Gathering After Funds Crisis

    The Pensions Regulator has said it has bolstered its gathering of data from the U.K.'s retirement funds in the wake of the liability-driven investment sector crisis.

  • February 08, 2024

    FCA Urged By Industry To Boost Investment Research

    The Financial Conduct Authority should boost investment research by giving asset managers more choice in how to pay for it, helping to make U.K. finance more competitive, according to an organization representing City institutions.

  • February 08, 2024

    5 Questions For Hogan Lovells' Regulatory Expert Rachel Kent

    Capital markets are in decline, as London Stock Exchange data shows there are 20% fewer listed companies than five years ago — but the Financial Conduct Authority is about to reform its convoluted rules on investment research. Here, Rachel Kent of Hogan Lovells tells Law360 why those reforms have become more urgent.

  • February 08, 2024

    UK Gov't Sets Up Pension 'Small Pots' Support Group

    The U.K. government has brought together a group of regulators and industry experts to implement proposals designed to help savers track their pensions, a move lawmakers said could benefit the average saver by £700 ($882) at retirement.

  • February 08, 2024

    Fox Williams Hires Fintech Partner From Deloitte

    Fox Williams LLP has hired specialist tech and fintech partner Chris Hill to its London office from Deloitte Touche Tohmatsu Ltd.

  • February 08, 2024

    Aviva's £460M AIG Life UK Takeover Gets Competition Probe

    The Competition and Markets Authority said on Thursday it has launched an investigation into Aviva PLC's planned all-cash acquisition of the U.K. protection business of AIG Life Ltd. for £460 million ($580 million).

  • February 08, 2024

    Arc Pensions Law Hires Litigation Pro From Pinsent Masons

    Specialist firm Arc Pensions Law LLP has hired pensions expert Ben Fairhead as a new partner from Pinsent Masons LLP.

  • February 07, 2024

    Women Need Extra 19 Years In Work To Close Pension Gap

    Women in the U.K. would need to work for an additional 19 years on average to retire with the same amount of pension savings as a man, according to research published on Wednesday. 

  • February 07, 2024

    City Regulator Warns It Cannot Fine Cloud Service Providers

    The Prudential Regulation Authority's senior leadership warned MPs on Wednesday that it will be unable to fine large third-party cloud service providers to banks and insurers like Google or Amazon Web Services under new powers.

  • February 07, 2024

    Pension Funding Hits Record Despite Gilt 'Roller Coaster'

    Pension funding in the U.K. reached a record surplus of £265 billion ($334.6 billion) in January despite the economic turbulence towards the tail end of last year, according to an analysis by PwC.

  • February 07, 2024

    UK Freezes Pensions Auto-Enrollment Thresholds Again

    Britain's pensions minister has said the government will retain the current earnings threshold at which workers are automatically enrolled into pension plans, citing "prevailing economic factors."

  • February 07, 2024

    FCA Tells Insurers To Provide Non-Financial Misconduct Data

    The Financial Conduct Authority has given insurers written notice to provide statistics on incidents of non-financial misconduct like bullying and harassment at their firms.

  • February 07, 2024

    Rise In Retiree Costs Is 'Wake-Up Call,' Ex-Minister Says

    The rise in annual costs for U.K. retirees should be a "wake-up call" to the government and pensions industry, a former pensions minister said Wednesday as a trade body released new estimates for the cost of living in retirement.

  • February 07, 2024

    Gov't Must Rehire Axed Jobcentre Staffer, Pay Her £68K

    A government department must reinstate an unfairly fired member of staff and pay her £68,000 ($86,000) in salary arrears after it ignored the effect of her medication on her actions when it carried out its botched misconduct investigation.

  • February 06, 2024

    Trade Bodies Want Delay On EU Sustainability Rule Changes

    Trade bodies are putting pressure on the European Commission to coordinate how it plans to alter its sustainability disclosure regime, calling for a delay and a "period of stability" to ensure clarity and prevent regulatory overlap when it implements changes.

  • February 06, 2024

    Brown & Brown Acquires Insurance Broker Stewart & Partners

    Insurance broker Brown & Brown (Europe) Ltd. said Tuesday it has bought 100% of the shares of Oxlea Investments Ltd., trading as Stewart & Partners, in a deal that will allow Brown & Brown to expand its range of products.

  • February 06, 2024

    Ex-Watchdog Boss Faults New Pension Funding Regulations

    The U.K. government has missed an opportunity to better encourage pension schemes to invest in the economy in its revised funding regulations for the sector, a former policy boss at The Pensions Regulator warned.

  • February 06, 2024

    Insurers Call For Premium Tax Cuts, Flood Defense Spending

    British insurers urged the government on Tuesday to reduce the premium tax rate and allocate more funds to flood defense in the spring Budget, moves they say will help ease the strain on consumers and businesses.

Expert Analysis

  • Q&A

    A Chat With Faegre Client Development Chief Melanie Green

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    In this monthly series, Amanda Brady of Major Lindsey & Africa interviews management from top law firms about the increasingly competitive business environment. Here we feature Melanie Green, chief client development officer at Faegre Baker Daniels LLP.

  • UK's Proposed Investment Scrutiny Powers Are Far-Reaching

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    The recently issued National Security and Investment White Paper proposes a significant expansion in the U.K. government's powers to scrutinize foreign investments. If the proposals are brought into force, the U.K. regime will be one of the most stringent in the world, say Douglas Lahnborg and Matthew Rose of Orrick Herrington & Sutcliffe LLP.

  • Relief For Cos. Conducting UK Internal Investigations

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    After almost a year and a half of uncertainty, the U.K. Court of Appeal has restored the eminently sensible position that documents created in an internal investigation are capable of being covered by litigation privilege when a criminal investigation or prosecution is in prospect, say Simon Airey and Joshua Domb of Paul Hastings LLP.

  • Breaking Down The UK's Revised Corporate Governance Code

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    Recent changes to the U.K. Corporate Governance Code should reassure investors that companies with a premium listing on the London Stock Exchange are committed to being standard-bearers. Issuers may also benefit from the workforce engagement, corporate culture and diversity changes that will be brought into businesses, say Joseph Ferraro and Jennifer Tait of Willkie Farr & Gallagher LLP.

  • Q&A

    Back To School: Widener's Rod Smolla Talks Free Speech

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    In this new series featuring law school luminaries, Widener University Delaware Law School dean Rodney Smolla discusses teaching philosophies, his interest in First Amendment law, and arguing before the U.S. Supreme Court in Virginia v. Black.

  • When To Use Options Analysis In Damages Assessments

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    In both the U.K. and abroad, the discounted cash flow methodology is often considered the "go to" valuation approach when conducting a damages assessment. However, DCF is not always appropriate and damages experts should know when to use the option analysis methodology instead, says Ronnie Barnes of Cornerstone Research Inc.

  • Opinion

    UK 'Unexplained Wealth Orders' Will Discourage Investors

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    The United Kingdom has taken the unusual step of introducing significant retrospective powers that could unravel acquisitions and transactions from decades ago. The government's intentions are laudable, but its new "unexplained wealth orders" cast doubts on the U.K.'s appetite for foreign investment and may hurt national interests, says Simon Bushell of Signature Litigation LLP.

  • Brexit: Bracing For A No-Deal Scenario

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    Once considered the “cliff edge,” the possibility of the United Kingdom exiting from the European Union without agreeing on a trade deal has moved from unthinkable to increasingly likely. Both sides are ramping up preparations for a no-deal scenario, which would have significant implications for businesses in all sectors, say attorneys with Baker McKenzie LLP.

  • Considering Contract Termination Under English Common Law

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    The U.K. High Court Commercial Division's recent decision in Phones 4U v. EE is a reminder of the care with which contracting parties should consider their rights when their English law contracts appear to be failing, says John Laird of Crowell & Moring LLP.

  • UK Corporations Face Growing Risk Of Class Actions

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    Recent years have seen an increased focus on class action litigation in U.K. courts, with a rise in high-profile and high-value claims being brought against corporate defendants. Furthermore, various factors suggest that the trend is likely to continue, say attorneys at Herbert Smith Freehills LLP.

  • Goldman Sachs Decision Raises Bank Failure Questions In UK

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    Depending on your political beliefs, the U.K. Supreme Court's recent judgment in Goldman Sachs v. Novo Banco either illustrates the benefits of remaining in the European Union or highlights the dangers of not breaking free from it, says Ben Pilbrow of Shepherd and Wedderburn LLP.

  • Opinion

    A Revolution For 3rd-Party Funding In The UK

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    Only 10 years ago, third-party funding was an exotic black art at the fringes of appropriate behavior in the United Kingdom. Now it is formally approved and championed by Court of Appeal judges and there is a wide range of funding options available to practitioners, says Guy Harvey of Shepherd and Wedderburn LLP.

  • UK Seeks To Balance Asset Protection And Protectionism

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    In response to the evolving geopolitical threats of the 21st century, the United Kingdom at the end of July began an initiative to enhance its powers to review or block foreign acquisitions of sensitive British assets. The challenge will be striking a balance between protecting legitimate strategic concerns and facilitating international investment, say attorneys at King & Spalding LLP.

  • Is It Time To Prosecute UK Cos. For Human Rights Violations?

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    The idea of holding companies criminally liable for human rights abuses committed overseas has gained traction over the past decade. Though the U.K. government has made it clear that it has no immediate plans for further legislation in this area, calls for corporate criminal liability are only likely to get louder, say Andrew Smith and Alice Lepeuple of Corker Binning.

  • 6 Trends Will Shape Future International Commercial Disputes

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    The world of international litigation and arbitration tends to move slowly — however, I expect the pace of change to accelerate in the coming decade as six trends take hold, says Cedric Chao, U.S. head of DLA Piper's international arbitration practice.

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