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Insurance UK
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April 08, 2025
Trade Body Urges Softer Regulatory Touch On PEPP Rules
A trade body for Europe's investment managers urged watchdogs in the bloc on Tuesday to relax regulatory restrictions on providers of the pan-European pension product in a move to boost demand by investors.
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April 08, 2025
Aviva Detected 14% Rise In Claims Fraud In 2024
Aviva PLC encountered a 14% rise in the number of fraudulent insurance claims in the U.K. last year, comprising more than 12,700 suspected false claims worth £127 million ($162 million), the insurer said in a report Tuesday.
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April 08, 2025
RPC, Weil-Led Howden Closes Buy Of UK Consultant
The insurance broker giant Howden Group Ltd. has finalized its acquisition of Barnett Waddingham, a professional services consultant, to create a major player in the U.K.'s pensions and employee benefits sector.
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April 08, 2025
FCA Boosts Testing Support For Innovative Products
The financial watchdog said Tuesday that it will make it easier for companies to test innovative products and support those which apply for regulatory approval as part of its work program for 2025/26.
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April 08, 2025
BoE Proposes Faster Investment Recognition For Insurers
The regulatory arm of the Bank of England said Tuesday that it wants to make it easier for insurance companies to invest in the U.K., part of a process to boost the competitiveness of the domestic economy.
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April 07, 2025
FCA Proposes Lighter Rules For Hedge Fund Managers
The Financial Conduct Authority proposed Monday to reform its regime for alternative asset managers, making it easier to enter the market and grow the business.
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April 07, 2025
Doubts Grow Over Impact Of UK Capital Market Deregulation
Government efforts to revitalize the country's sluggish economy by stripping away regulatory burdens on financial markets have raised concerns among lawyers that consumers might be exposed to more risk, amid doubts that the steps can stimulate broader U.K. economic output.
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April 07, 2025
EU To Assess Interest Rate Changes On Pension Funds
Europe's insurance regulator said Monday that it will assess how changes in interest rates tied to geopolitical tensions may harm pension funds during its fifth annual stress test on the sector.
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April 07, 2025
Wealth Manager Quilter Buys NHS Pensions Analyst
Quilter PLC said Monday that it has acquired MediFintech, an analyst of National Health Service pensions, as the wealth manager looks to bolster its advisory arm to cope with a change to public service retirement plans.
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April 07, 2025
Allianz Luxembourg Unit Penalized For AML Breaches
Luxembourg's financial regulator has hit the domestic branch of insurer Allianz with a €283,000 ($310,000) fine for breaching the country's anti-money-laundering and terrorist-financing rules.
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April 07, 2025
Fidelity Japan Rejects Merger Approach From AVI Japan
The board of Fidelity Japan Trust has rejected a merger proposal from rival AVI Japan Opportunity Trust, telling its shareholders to vote to continue with its current strategy instead.
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April 04, 2025
UK Litigation Roundup: Here's What You Missed In London
This past week in London has seen Russian industrialist Oleg Deripaska target the intelligence arm of CT Group with a commercial fraud claim, Big Technologies sue its former CEO for allegedly concealing interests in several shareholders, and an investment firm tackle a professional negligence claim by Adidas. Here, Law360 looks at these and other new claims in the U.K.
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April 04, 2025
Pension Protection Fund Says 'Time Is Right' To Review Rules
Britain's pensions compensation fund has said the "time is right" to review a range of key areas of its governing legislation, including how it sets its levy and rules determining how benefits for older pensioners rise.
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April 04, 2025
Cyber Insurance Market To Double By 2030, Munich Re Says
The cyber insurance market is expected to more than double by 2030 at an annual growth rate of over 10% despite slow growth in the last two years, German multinational reinsurance company Munich Re said Friday.
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April 04, 2025
TUI Pilot Wins Pension After Losing Forced Retirement Claim
An employment tribunal has ruled that a former TUI Airways pilot is entitled to almost £15,000 ($19,500) in pension contributions, despite tossing his claim for age discrimination and unfair dismissal the year before.
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April 04, 2025
Pension Members 'Afraid' Of Gov't Surplus Extraction Plans
Nearly all members of defined benefit pension schemes in Britain do not want politicians interfering in their operations, polling reveals, as policymakers move to relax retirement savings rules to allow schemes to invest billions of pounds tied up in surpluses.
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April 04, 2025
UK Gov't Urged To Tackle Pensions Advice Gap In Review
The government must use the next phase of its pension review to address why so few workers take advice on their retirement options, a trade body said Friday.
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April 04, 2025
UK Insurers Could Push Through Price Hikes From Tariffs
British insurers could be forced to push through price hikes due to new U.S. trade tariffs, experts warned Friday, amid a looming risk of rising claims bills.
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April 04, 2025
UK Pension Funds Braced To Weather Bond Market Turmoil
British pension schemes are most likely sufficiently hedged to withstand the current volatility in bond markets, experts said, amid growing concern over a global trade war.
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April 03, 2025
Property Co. Sues Broker For £2M Over Fire Claim Refusal
A property developer has sued an insurance broker for almost £2 million ($2.6 million) for its allegedly bungled handling of an insurance policy that resulted in Aviva refusing to cover for a fire that destroyed a Grade II listed building.
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April 03, 2025
Gowling, Police Team Up To Recoup Fraud Victims' Assets
City of London Police said Thursday that it has teamed up with international law firm Gowling WLG to support victims of fraud through a civil asset recovery program.
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April 03, 2025
Pensions Watchdog Issues £98K In Fines Over 'Value' Reports
The retirement savings watchdog said Thursday that it has fined small pension plans almost £98,000 ($129,000) for breaches of governance regulations introduced in 2021.
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April 03, 2025
Insurance Trade Body Names Swinburne New Chair
The Association of British Insurers said Thursday that it has named former member of the European Parliament Jacqueline Swinburne as its new independent chairperson to succeed Nicky Morgan, with immediate effect.
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April 03, 2025
UK Trustee Firms Face New Regulatory Oversight
Britain's retirement savings watchdog has unveiled plans formally to regulate professional trustee firms amid significant growth in the sector.
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April 03, 2025
Ireland Warns On Premiums After Fall In Injury Claims Value
The government of Ireland has warned insurers over the price of cover after official figures revealed a drop in the value of injury claims.
Expert Analysis
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What Slovak Labor Code Changes Will Mean For Employers
With newly effective amendments to the Slovak Labor Code strengthening employees’ rights in a number of ways, the default mindset of the employee being the weaker party may no longer be the right approach, says Katarina Pfeffer at Bird & Bird.
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An ICO Reminder On Managing Subject Access Requests
Although the U.K. Information Commissioner's Office’s recent seven reprimands regarding mismanagement of data subject access requests are unusual, it is worth organizations considering what resources and training may be available to ensure these are properly managed in the future, says Ross McKenzie at Addleshaw Goddard.
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Opinion
Increasing Law Firm Polarization Will Degrade Rule Of Law
As evidenced in recent instances of law firms separating from attorneys who represented certain industries or espoused certain views, firms and the legal practice itself have grown troublingly polarized and intolerant of dissent, says Rebecca Roiphe at New York Law School.
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The FTX Fallout So Far And What May Come Next
While the downfall of FTX is likely to cause substantial losses and lead to extensive litigation, it will hopefully precipitate a renewed focus on regulating the crypto market in a responsible way that gives more protection to consumers, says Dan Wyatt at RPC.
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Hard Insurance Market Will Influence Legal Industry, Economy
As the cost of claims starts to outstrip the value of premiums, insurers are denying more claims and considering scaling back coverage, leading to an influx of legal work and potential holes in the market, says Bruce Hepburn at Mactavish.
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Digital Nomads: Key Considerations For Global Businesses
As employers and employees embrace remote, location-independent work arrangements enabled by technology, they must be mindful of the employment law and tax consequences such arrangements may trigger, say Hannah Wilkins and Audrey Elliott at Eversheds Sutherland.
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New License Eases Sanctioned Clients' Legal Fee Payments
The general license recently issued by the U.K. Office of Financial Sanctions Implementation permitting the payment of legal fees owed by a sanctioned company or individual will potentially reduce the agency's backlog and is welcome news for both lawyers and OFSI staff, say Zulfi Meerza and Syed Rahman at Rahman Ravelli.
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Preparation Is Key To Businesses Minimizing Cyber Breaches
A recently published report by the U.K. Department for Digital, Culture, Media and Sport on organizational experiences of cybersecurity breaches highlights the importance of having breach response policies in place and being able to demonstrate that reasonable preventive and risk management steps were taken, says Lawson Caisley at White & Case.
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UK Policyholders Can Expect Better COVID Claims Handling
The U.K. Financial Conduct Authority recently outlined some best practices for COVID-19 business interruption claims handling, which, along with recent High Court of Justice decisions, will likely lead to faster claims handling and clearer insurer communication, say Gurpreet Sanghera and Charlie Edwards at Simkins.
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A Recovery Option For Lenders With Planes Stuck In Russia
For aircraft lessors considering insurance coverage litigation to recover for losses of equipment leased to Russian airlines, negotiating an assignment of rights may provide a faster pathway to recovery, say David Klein and Jose Lua-Valencia at Pillsbury.
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Series
My Favorite Law Prof: How I Learned To Argue Open-Mindedly
Queens College President Frank Wu reflects on how Yale Kamisar’s teaching and guidance at the University of Michigan Law School emphasized a capacity to engage with alternative worldviews and the importance of the ability to argue for both sides of a debate.
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4 Key Skills For An Effective Attorney Coaching Conversation
As BigLaw firms are increasingly offering internal coaching as one of many talent strategies to stem ongoing lawyer attrition, Stacey Schwartz at Katten discusses how coaches can help attorneys achieve their goals.
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New Clarity On Directors' Creditor Duty In Insolvency Context
The recent case of BTI 2014 v. Sequana, the first to consider the creditor duty at U.K. Supreme Court level, provides directors and insolvency practitioners with significant guidance on how close to insolvency the company needs to be for the creditor duty to be engaged, say attorneys at Shearman.
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FCA Pension Scheme Case Highlights Issues Ripe For Reform
The Financial Conduct Authority's response to the British Steel Pension Scheme case exposed wider issues within its regulatory approach and could demonstrate the need for industrywide reforms to minimize the risks with transferring out of a pension scheme, say Oliver Reece and Larisa Gordan at PwC.
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What An Organization Can Do To Protect Its Supply Chains
In light of recent world events, supply chain issues have never been more critical for business, and to protect the commercial viability of their contracts, organizations should address performance concerns in good time, with a workable strategy in place should the chain break down, says Laura Heeley at Eversheds Sutherland.