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Insurance UK
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March 17, 2025
Kuwait Pension Fund Says Director Ran $1B Bribery Scheme
The former director of Kuwait's pensions authority orchestrated a two-decade-long "unlawful scheme of corrupt payments" in excess of $1 billion, lawyers for the authority said at the opening of a bribery trial in London on Monday.
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March 17, 2025
Government Wants Pension Watchdog To Cut Red Tape
The government said Monday it wants the U.K.'s pension watchdog to cut red tape, in a bid to strip back regulatory burdens it sees as inhibiting growth.
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March 17, 2025
UK To Launch Measures To Speed Up Firms' Approval Process
The U.K. government will introduce measures for the Financial Conduct Authority to speed up support for early-stage businesses as part of a broader set of reforms to reduce regulatory impediments to economic growth.
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March 17, 2025
EU Insurers To See Boost From Increased Defense Spending
European insurers are set to benefit from rising government bond yields linked to increased borrowing to fund defense spending, Fitch Ratings has said.
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March 14, 2025
Aon Can Sue Howden In Staff Poaching Case In England
Aon UK Ltd can pursue its claim against Howden Group Holdings Ltd related to alleged staff poaching from Aon's Brazilian insurance business, after a ruling Friday that English courts have jurisdiction.
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March 14, 2025
Gov't Orders Law Shake-Up To Boost Insurance Mutuals
The government has ordered a review of the law governing insurance mutuals, as it said it would double the number of companies operating in the sector.
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March 14, 2025
Willkie-Led PE Firm To Buy Stake In UK Insurance Broker
Private equity firm IK Partners has agreed to acquire a minority stake in broker and risk management company Seventeen as it seeks to tap into the U.K. insurance market.
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March 14, 2025
Insurer Ardonagh Buys UK Broker Anderson & Co.
Global insurance broker Ardonagh's SME platform has bought U.K. boutique Anderson & Co. (Holdings) Ltd. and its subsidiary to help bolster its presence in the North of England.
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March 14, 2025
UK Litigation Roundup: Here's What You Missed In London
The past week in London has seen J.P. Morgan face action by the founder of Viva Wallet in an ongoing feud over the company's takeover, retailer Next Group contest a claim by the home ware brand owned by private members' club Soho House, and the venue of the Wimbledon Championships sue a local group opposed to its plans to build new tennis courts on protected land in Wimbledon Park.
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March 14, 2025
Greek Firms Steer Bank's €600M Insurer Stake Buy From CVC
Piraeus Financial Holdings SA has signed a deal for its subsidiary to acquire 90% of Ethniki, a Greek insurer, from a fund controlled by CVC Capital Partners for €600 million ($654 million) in a move by the bank to diversify its business.
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March 13, 2025
Solicitor Fined Over Disclosure Failure With Insurer
The former owner of a defunct property law firm has been fined more than £4,000 ($5,177) for providing misleading information to an insurer when she was looking to renew her professional indemnity insurance, the Solicitors Regulation Authority has said.
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March 13, 2025
Phoenix Group Sued By Ex-CEO Over Short Pay
Phoenix Group Holdings PLC has been sued by the former chief executive officer of its subsidiary SunLife Ltd., who alleges that the insurer "arbitrarily reduced" his upper management compensation by almost £9 million ($11.6 million).
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March 13, 2025
MPs To Debate Women State Pension Redress Petition
Lawmakers will debate a petition calling for compensation for women affected by the historical failure to inform them that their pension age had changed, amid growing criticism of the government's decision not to launch a redress program.
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March 13, 2025
Insurance Brokers Could Get Tax Refunds After Court Ruling
U.K. insurance brokers could be in line for tax refunds from the state worth up to £400 million ($518 million) after a landmark court case, according to accountancy MHA.
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March 13, 2025
Gov't Urged To Reform Rules To Unlock Pension Surpluses
The government should legislate to allow more flexible use of surpluses in defined benefit pension plans, a financial services consultancy has said, arguing that regulatory reform could generate £400 billion ($518 billion) in additional capital.
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March 12, 2025
Gov't Confirms Date For Local Gov't Pension 'Megafunds'
The U.K. government has confirmed it plans to stick to the deadline of March next year for all assets in the highly fragmented Local Government Pension Scheme to be pooled into larger, regulated funds.
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March 12, 2025
Regulatory Rollback Gathers Pace As Programs Axed
The City watchdog has dropped three of its top regulatory initiatives, responding on Wednesday to industry criticism and government pressure to boost competitiveness and economic growth.
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March 19, 2025
Pierson Ferdinand Hires Former Magistrate From Walkers
Pierson Ferdinand LLP has recruited Daniel Hayward-Hughes, a former magistrate and associate with Walkers, as a junior partner in its international disputes practice as the firm continues to grow its London office a year after its launch.
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March 12, 2025
Great Lakes Denies Liability For £1.26M Crane Damage
An insurance company involved in a row over damage caused by a crane in a property in an Essex industrial estate said it is not liable for the £1.26 million ($1.63 million) claimed because the incident happened in a private warehouse.
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March 12, 2025
FCA Drops Plan To 'Name And Shame' Firms It Investigates
The Financial Conduct Authority said Wednesday that it has scrapped its proposals to publicly identify companies at an early stage in enforcement investigations as the watchdog responds to widespread resistance from the sector.
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March 12, 2025
UK Watchdogs Drop Diversity And Inclusion Regulation Plans
The financial services watchdogs have walked back plans to introduce new regulations for diversity and inclusion policies, saying on Wednesday that they hope to avoid duplicating existing regulation and legislative guidelines.
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March 12, 2025
L&G Launches £500M Buyback, Reports 6% Rise In Profits
Legal & General Group PLC said Wednesday that it plans to line shareholders' pockets with £500 million ($647 million) over 2025 as it reported a 6% rise in core operating profits for 2024.
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March 11, 2025
AXA Says Santander Was In 'Driving Seat' In £670M PPI Trial
Insurance giant AXA said at the start of a £670 million ($867 million) London trial Tuesday that Santander should compensate it for what it has paid out dealing with claims for missold payment protection insurance because the Spanish bank's subsidiary was "in the driving seat."
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March 11, 2025
Over-50s Regret Not Taking Pension Seriously, Study Shows
A quarter of those over the age of 50 said they regret not taking their pension more seriously at a younger age, according to research from insurance giant Aviva that comes amid increased warnings about Britons not saving enough for retirement.
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March 11, 2025
UK Regulators Seek AI Guidance From Industry
Britain's financial and data regulators have reached out to U.K. trade bodies and business chief executives for guidance on how to provide regulatory certainty on artificial intelligence.
Expert Analysis
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Remote Depositions Bring Ethics Considerations For Lawyers
Utilizing virtual litigation technologies and participating in remote depositions require attorneys to beware of inadvertently violating their ethical obligations, including the principal duty to provide competent representation, say attorneys at Troutman Sanders.
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Time For Presumptive Virtual Mediation In The UK
While the COVID-19 outbreak is a real-time test of the U.K. justice system’s adaptability and innovation, it is also an opportunity to deliver alternative dispute resolution through virtual technology — and there are two ways in which this could be achieved, says Suzanne Rab at Serle Court.
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UK 'Property' Classification Boosts Confidence In Bitcoin
In AA v. Persons Unknown, the English High Court classified bitcoins as property that can be the subject of proprietary injunctions, indicating the slow but growing acceptance of virtual currencies within the U.K., say Steven De Lara and Colin Grech at Signature Litigation.
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3 EU And UK Data Protection Tips During COVID-19
Though EU and U.K. data protection laws should not impede the fight against COVID-19, companies must continue to protect individuals' data, and the challenges of managing a remote workforce and the desire for information about the virus’s impact have significant implications for that responsibility, say attorneys at Debevoise.
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Novolex Case Brings Lessons On R&W Insurance
A New York state court dispute between Novolex and a few of its insurers concerning coverage under a representations and warranties policy for a $267 million loss offers a rare glimpse into how a court might interpret acquisition agreements and insurance policy provisions, say attorneys at Hunton.
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How Proposed EU Class Action Directive Could Affect Insurers
Insurers should beware the explosive potential of the EU's proposed directive providing for cross-border class actions and third-party funding for such actions, although it also bears strict requirements that will limit the number of cases, say Emmanuèle Lutfalla and Simon Fitzpatrick at Signature Litigation.
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COVID-19 Insurance Considerations For UK Cos.
Though a new U.K. regulation recently made it easier for businesses to claim losses related to COVID-19, potential points of contention when seeking insurance coverage include whether the government ordered the business to close and whether an outbreak occurred at the premises, say attorneys at Covington.
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UK Group Data Breach Claims Pose Big Financial Risks
Recent English court decisions appear to make it easier for data breach victims to bring collective actions, and consequently companies may find they are liable for huge sums in addition to fines under the General Data Protection Regulation, say attorneys at Morrison & Foerster.
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A Crucial Chance For UK Supreme Court To Clarify Arbitrator Bias
In Halliburton v. Chubb, the U.K. Supreme Court has an opportunity to tackle uncomfortable questions and support confidence in London's arbitration sector by policing effectively against bias and impartiality when arbitrators are involved in multiple tribunals, says Rosie Wild at Cooke Young.
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Rebuttal
Legal Industry Should Pursue AI Prediction Progress
As part of the debate prompted by my recent Law360 guest article on legal prediction using artificial intelligence, I would like to unpack four issues and suggest that attorneys and technologists continue to tackle the problems presently within reach, says Joseph Avery at Claudius Legal Intelligence.
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Rebuttal
AI Can't Accurately Predict Case Length And Cost — Yet
A recent Law360 guest article argued that artificial intelligence can precisely estimate the length and cost of a new case, but several limitations will likely delay truly accurate predictions for years to come, says Andrew Russell at Shaw Keller.
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What To Expect During The Brexit Transition Period
While all formal ratification procedures for the U.K.'s departure from the European Union have been completed, the transitional period will bring an enormous range of trade, customs and regulatory issues, say attorneys at Mayer Brown.
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Opinion
Legal Prediction Is Demanding But Not Impossible
The New Jersey Supreme Court’s recent decision in Balducci v. Cige incorrectly concluded that predicting the length and cost of a case is nearly impossible, and overlooked artificial intelligence's ability to do so, says Joseph Avery with Claudius Legal Intelligence.
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Surefire Marketing Methods To Build Your Legal Practice
Attorneys who take the time and the risk to showcase their talents through speaking, writing and teaching will find that opportunities will begin building upon themselves, says Daniel Karon of Karon LLC.
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Mandatory Mediation May Lie Ahead For England And Wales
The U.K. Court of Appeals' decision in Lomax v. Lomax, among other recent developments, show significant judicial support for compulsory mediation of appropriate civil and commercial cases in England and Wales, say Margarita Michael and Grace Spurgeon of O'Melveny.