Insurance UK

  • March 13, 2024

    Bond Market Seeks Mix Of FCA Proposals On Trade Reporting

    U.K. and European trade bodies jointly laid out their preferences on Wednesday for a U.K. regulatory framework for publishing bond trading data based on elements of two potential models proposed by the Financial Conduct Authority.

  • March 13, 2024

    Insurer Direct Line Snubs £3.2B Improved Ageas Bid

    British insurer Direct Line on Wednesday said it had rejected an improved £3.2 billion ($4.1 billion) offer from Belgian rival Ageas because it still "significantly undervalues" the group.

  • March 12, 2024

    Civil Servants Appeal For 2nd Shot At Age Bias Challenge

    Twenty civil servants argued Tuesday that they were not given a fair shot at their claim that a redundancy compensation scheme was unjustifiably biased against older staff.

  • March 12, 2024

    Staffer Who Sent Sex Doll To Boss Unfairly Axed By Tech Biz

    A tech company unfairly fired an employee who sent their manager a sex doll, an employment tribunal ruled, although it also rejected the staffer's bid for £16 million ($20.6 million) in damages and their request to be reinstated.

  • March 12, 2024

    £100B Of UK Pension Surplus Could Be Returned To Sponsors

    An estimated £100 billion ($128 billion) could boost British businesses and workers over the next decade if retirement savings plans continue to run on after the point at which they're fully funded, a consultancy said Tuesday.

  • March 12, 2024

    UK Pension Deals Hit Record-Breaking £50B In 2023

    The total value of pension transfer deals in the U.K. hit a record-breaking £50 billion ($64 billion) in 2023, Hymans Robertson said Tuesday, with the number of transactions also eclipsing previous highs.

  • March 12, 2024

    Gov't To Give Banks More Time To Investigate Payment Fraud

    HM Treasury on Tuesday published draft legislation giving banks more time to investigate suspected fraud on payments, giving them a better chance of stopping thieves.

  • March 12, 2024

    AI Attacks Pose Critical Threat To Businesses, Lloyd's Says

    Artificial intelligence will empower cybercriminals and potentially increase the frequency and sophistication of digital attacks, Lloyd's of London warned in a report published Tuesday.

  • March 12, 2024

    FCA's New Greenwashing Rules Lack Clarity, City Firms Warn

    City firms are pressing the Financial Conduct Authority to revise the draft guidance for its new anti-greenwashing rules to clear up critical ambiguities as they seek greater clarity on how broadly it will be applied.

  • March 11, 2024

    Insurers Sued For €403M Over Nord Stream Pipeline Damage

    The operator of two Baltic Sea gas pipelines hit by explosions has sued its insurers for more than €403 million ($440 million) to cover damage intended to "sabotage a politically significant pipeline" supplying natural gas from Russia to Western Europe.

  • March 11, 2024

    New Treasury Review Of AML Rules To Cast Wide Net

    The U.K. Treasury said Monday that a new review on the effectiveness of anti-money laundering regulations will have a broad scope, encompassing more than 100,000 businesses, including law firms.

  • March 11, 2024

    MPs To Hear From Administrators In Norton Pension Scandal

    A parliamentary committee said Monday that it will weigh whether victims of pension fraud can receive compensation faster as the first part of its probe into the retirement savings scandal at Norton Motorcycle Co.  

  • March 11, 2024

    Global Standards-Setter Sets Deposit Insurance Review

    The International Association of Deposit Insurers said Monday that it will focus its 2024 efforts on updating the rules for deposit insurance, including studying how it works, collecting more data on it and helping members improve their systems.

  • March 11, 2024

    FCA Fines British Steel Pensions Firm, Bans Advisers

    The finance watchdog said Monday that it has hit a financial advice company with a fine and banned two former employees after discovering failures by the business when it put through £90 million ($115 million) of retirement savings transfers for members of the British Steel Pension Scheme.

  • March 08, 2024

    FCA To Boost Fight Against Nonfinancial Misconduct

    The Financial Conduct Authority said Friday it would ramp up its fight against bullying and sexual harassment in the financial services sector in light of a damning parliamentary report condemning efforts to tackle sexism in the financial services sector.

  • March 08, 2024

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

    This past week in London has seen Barclays initiate legal proceedings against top Russian private bank JSC Alfa-Bank; Lex Greensill, founder of the collapsed Greensill Capital, suing the U.K.'s Department for Business and Trade; Wikipedia's parent company hit with a libel claim; and a sports journalism teacher filing a data protection claim against Manchester United FC. Here, Law360 looks at these and other new claims in the U.K.

  • March 08, 2024

    Slaughter And May Guides PE Firm's £432M Wealth Firm Buy

    Pollen Street Capital said Friday that its subsidiary has agreed to fully buy out Mattioli Woods, a wealth management company, for approximately £432 million ($556 million), as the U.K. private equity investor looks to capture a slice of the lucrative sector.

  • March 08, 2024

    Gov't Sets Out 'Social Factors' Guide For Pension Investment

    The pensions watchdog has urged retirement fund managers to weigh social factors, such as labor rights and the safety of workers, as part of their investment considerations.

  • March 08, 2024

    'Aggressive' Cold-Calling Firm Shut For Targeting Pensioners

    A company that used "aggressive techniques" when selling unnecessary home service and maintenance plans to vulnerable pensioners has been wound up for targeting and misleading elderly customers.

  • March 08, 2024

    Insurer Beazley Begins $325M Share Buyback As Profit Soars

    Beazley began a share buyback on Friday worth up to $325 million in a move to lower its outstanding share capital and reward investors, as its pre-tax profits more than doubled to $1.25 billion.

  • March 07, 2024

    Efforts To Tackle Sexism In City Moving At 'Snail's Pace'

    A group of senior MPs called on Friday for an end to the "era of impunity" in the country's financial sector, saying that efforts to tackle sexism in the City are moving at a "snail's pace" and ignoring the benefits of diversity.

  • March 07, 2024

    Ex-Slater And Gordon Lawyer To Face Tribunal Over PI Claim

    A former personal injury lawyer at Slater and Gordon must face a disciplinary tribunal after he allegedly misled a client about the status of her personal injury claim for more than 15 years, the Solicitors Regulation Authority has said.

  • March 07, 2024

    Irish Central Bank Plans Modernized Consumer Protection

    The Central Bank of Ireland opened a consultation on Thursday on plans to modernize the Consumer Protection Code and clarify the obligations financial companies face for managing such risks as climate change.

  • March 07, 2024

    UK Working On Fix For Privacy Rules Clash On Pensions

    The government is working on a solution to the problem of pension providers being held back from communicating with members because of privacy regulations, a minister has said.

  • March 07, 2024

    Aviva Kicks Off £300M Buyback After 'Strong Performance'

    Aviva PLC said Thursday that it will reward investors with a share buyback worth up to £300 million ($383 million), as it reported a rise in its premiums and operating profit.

Expert Analysis

  • Series

    Why I Became A Lawyer: Being There For Families In Trouble

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    My parents' contentious, drawn-out divorce was one of the worst experiences of my life. But it taught me how to be resilient — and ultimately led me to leave corporate litigation for a career in family law, helping other families during their own difficult times, says Sheryl Seiden of Seiden Family Law.

  • 3 Ways To Leverage Vulnerability For Lawyer Well-Being

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    Admitting to imperfection is an elusive construct in the legal industry, but addressing this roadblock by capitalizing on vulnerabilities can increase personal and professional power, says life coach and attorney Julie Krolczyk.

  • Zurich Case Brings Clarity To Complex Contempt Proceedings

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    The U.K. Court of Appeal's recent decision in Zurich v. Romaine provides insight into the meaning of "in the public interest" in the context of bringing contempt proceedings against a party or witness who verifies false claims, says Matt Peacock of Signature Litigation.

  • What A No-Deal Brexit Would Mean For Dispute Resolution

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    In the event of a no-deal Brexit, arbitration may become a more attractive option as a dispute resolution mechanism, as it offers relatively easy enforcement and clauses that could negate some uncertainty caused by Brexit, says Donna Goldsworthy of BDB Pitmans.

  • The Problem — And Opportunity — Of Implicit Bias In The Bar

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    Law firms are beginning to recognize implicit bias as a problem. But too few recognize that it is also an opportunity to broaden our thinking and become better legal problem solvers, says Daniel Karon of Karon LLC.

  • Roundup

    Pursuing Wellness

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    In this Expert Analysis series, leaders at some of the law firms that committed to the American Bar Association's 2018 pledge to improve mental health and well-being in the legal industry explain how they put certain elements of the initiative into action.

  • Series

    Why I Became A Lawyer: Expanding The Meaning Of Diversity

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    My conservative, Catholic parents never skipped a beat when accepting that I was gay, and encouraged me to follow my dreams wherever they might lead. But I did not expect they would lead to the law, until I met an inspiring college professor, says James Holmes of Clyde & Co.

  • 2 Perspectives On Navigating The Litigation Funding Process

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    Paul Martenstyn of Vannin Capital and Daniel Spendlove of Signature Litigation share their top tips on how to get a case funded, drawing from their respective experience as a funder and a lawyer.

  • Answers To Key Legal Finance Ethics Questions

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    While there is discussion in some quarters about new regulations on commercial legal finance, the hands-off approach taken by the majority of courts and legislatures is an implicit recognition that it is already sufficiently regulated, says Danielle Cutrona of Burford Capital.

  • Competing Legal Factors Vex Insurance Arbitration Disputes

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    The Fifth Circuit ruled in May that international arbitration policy trumped state insurance law in McDonnel Group v. Great Lakes Insurance. But the courts have been inconsistent in applying conformity-to-statute clauses, the McCarran-Ferguson Act and a related U.S. treaty in the battle between federal preemption and state reverse preemption, says Gilbert Samberg at Mintz.

  • Cannabis Investors Should Beware Money Laundering Risk

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    Even if marijuana-related businesses are in compliance with local laws, their investors are not free of legal risk so long as cannabis remains a controlled drug in other countries, such as the U.K., say Robert Dalling and Wade Thomson of Jenner & Block.

  • Real-Life Lessons For Lawyers From 'Game Of Thrones'

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    What lessons can the various hands, maesters, council members and other advisers in "Game of Thrones" impart to real-life lawyers? Quite a few, if we assume that the Model Rules of Professional Conduct were adopted by the Seven Kingdoms, says Edward Reich of Dentons.

  • UK Firms Should Be Prepared For Government Raids

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    Recent enforcement activity from the Financial Conduct Authority and other regulators highlight the penalties firms face for procedural breaches, and the value in ensuring that employees are well-equipped to handle unannounced inspections, say James Marshall and Sonja Hainsworth of Bryan Cave.

  • Series

    Why I Became A Lawyer: Completing The Journey Home

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    My mother's connection to her Native American heritage had a major influence on my career — my decision to enter the legal profession was driven by the desire to return to my tribal community and help it in any way I could, says Jason Hauter of Akin Gump.

  • 3 Insurance Issues Raised By The Notre Dame Cathedral Fire

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    The devastating Notre Dame Cathedral fire provides a rare opportunity to consider the many unique factors that owners and insurers must consider when insuring national treasures, say attorneys at Zelle.

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