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Insurance UK
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February 18, 2025
EU Watchdog To Set Knowledge Standard For Crypto Advisers
The European Union's financial markets regulator has proposed guidelines setting minimum knowledge standards for advisers and information providers at crypto-asset service providers.
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February 18, 2025
Lifeboat Fund Pays £38M On Defunct Pension Biz Rowanmoor
The U.K.'s financial lifeboat scheme said Tuesday it has so far paid out £38 million ($48 million) in claims over pension provider Rowanmoor Personal Pensions Ltd., more than a year on from the company's collapse.
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February 18, 2025
E-Scooters Blamed For Rise In Uninsured Child Drivers
Almost 800 children have been caught driving or riding without insurance in the past four years, data published by a U.K. road safety charity shows, with the rise in private electronic scooters said to be behind the surge in numbers.
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February 18, 2025
Morton Guides £1.5M Pension Deal For Accounting Firm
An accountancy firm has passed £1.5 million ($1.9 million) of its pension liabilities to Just Group, the insurer said Tuesday, in a deal advised by Morton Fraser MacRoberts LLP.
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February 18, 2025
Property Co. Assura Says £1.6B KKR Bid Undervalues Biz
The board of property manager Assura PLC said Tuesday that a £1.6 billion ($2 billion) possible offer tabled by U.S. private equity firm KKR "materially undervalued the company and its prospects."
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February 17, 2025
Pensions Watchdog To Go Further On Prudential Oversight
The retirement savings watchdog said Monday it will go further this year on managing risks affecting the wider pensions market and financial ecosystem, after announcing last year it would take on a more "prudential" approach to supervising the sector.
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February 17, 2025
Theater Co. Settles Ceiling Collapse Claim With Consultant
A London theater company has reached a settlement in its claim against a project manager for damages and losses caused by the collapse of a ceiling during a West End performance of Arthur Miller's play "Death of a Salesman."
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February 17, 2025
Insurers Warn Gov't Over Tax Hikes After £11.7B Claims Paid
Insurers paid out a record £11.7 billion ($14.8 billion) in motor claims in 2024, a trade body said Monday after it warned the government against hiking taxes on the sector.
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February 17, 2025
Growth In UK Insurance Premiums Expected To Slow, EY Says
Insurance premium growth in Britain is expected to stabilize this year amid falling costs, a consultancy said on Monday, as it warned of potential storm clouds on the horizon caused by "geopolitical" developments.
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February 17, 2025
Shoosmiths Steers £16M Pension Deal For Manufacturing Co.
Insurer Just Group said on Monday that it has taken on £16 million ($20.2 million) of liabilities in a retirement scheme from a pension plan sponsored by industrial machinery manufacturer Deutz AG, in a deal guided by Shoosmiths.
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February 17, 2025
UK Healthcare Property Biz Assura Rejects £1.6B KKR Bid
Primary care property developer Assura PLC has snubbed a £1.6 billion ($2 billion) proposed takeover approach from KKR and a U.K. pensions provider, the U.S. private equity firm said on Monday.
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February 14, 2025
UK Litigation Roundup: Here's What You Missed In London
This past week in London has seen Spice Girls star Mel B's ex-husband bring a defamation claim against the publisher of The Sun, a hotel sue a former director convicted of embezzling its funds for breach of fiduciary duty, and comedian Russell Brand face a sexual abuse claim. Here, Law360 looks at these and other new claims in the U.K.
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February 14, 2025
Zurich Has Key Defense Trimmed In Dental Spa Fire Claim
A London court has ruled that the company operating a dental practice in Leeds did not misrepresent itself in a policy with Zurich, and the insurer cannot claim it withheld insolvency-related information to deny cover for losses stemming from a fire.
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February 14, 2025
Gowling, Squire Patton Pilot £50M Pension Deal For Textile Biz
A German textiles company has offloaded £50 million ($63 million) of its U.K. pension liabilities to insurer Just Group PLC, advisers said Friday, in a deal steered by Gowling WLG and Squire Patton Boggs LLP.
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February 14, 2025
5 Questions For Spencer West Partner Karl Foster
The Financial Conduct Authority's approach to enforcement and consumer protection has come up against government economic growth priorities and resistance from the sector to its proposals to "name and shame" companies early on during regulatory probes.
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February 14, 2025
Chair Of UK Pensions Watchdog Steps Down After 4 Yrs
The chair of the retirement savings watchdog has confirmed that she will step down in July, departing after four years in the job.
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February 14, 2025
EU Watchdog Probes Bloc-Wide Fund Manager Compliance
The European Union's financial markets regulator on Friday launched a bloc-wide probe with national regulators on compliance and internal audit functions of fund managers.
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February 14, 2025
Single Pensioners Face Retirement Shortfall, Insurer Says
Single pensioners in Britain on a full state pension have to make up an annual shortfall of almost £2,900 ($3,500) if they want to achieve a minimum retirement living standard, analysis published Friday by a retirement specialist company suggests.
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February 13, 2025
MPs Call On Minister To Respond On Pensions Inflation Rules
The U.K. government has been urged by senior MPs to respond to calls for reform that will allow retirement benefits for older pensioners to rise with inflation.
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February 13, 2025
Pension Insurers Invest £178B In UK Assets, Trade Body Says
Providers of bulk and individual annuities invested £178 billion ($222 billion), or 65% of their assets, in the U.K. in 2023, the Association of British Insurers said on Thursday.
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February 13, 2025
FCA's Pension Support Reform Needs Work, Industry Says
Britain's pension industry on Thursday signaled its support for proposals floated by the Financial Conduct Authority to allow retirement savings providers to offer better support to workers ahead of retirement, but said more detail was needed before plans go live.
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February 13, 2025
FCA Files Criminal Charges Against Financial Adviser
The Financial Conduct Authority said Thursday it has charged an independent financial adviser with multiple criminal offenses that resulted in more than £2.3 million ($2.9 million) in losses for clients.
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February 13, 2025
Gov't Urged To Act On Growing Number Of Small Pension Pots
The number of small pension pots in the U.K. rose by two million between 2020 and 2023, a think tank has said, as it urged the government to urgently intervene for consolidation.
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February 12, 2025
AIG Largely Beats Claim Over Failed Italy Property Scheme
AIG is not liable to pay the bulk of nearly €3.5 million ($3.6 million) to investors in a failed Italian real estate project, as a judge found Wednesday that the insurance policy of a defunct Italian firm does not cover negligent advice by its predecessor.
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February 12, 2025
UK Annuity Sales Hit Record After Pension-Freedom Reforms
Pension annuity sales in Britain reached £7 billion ($8.7 billion) in 2024, figures published Wednesday by the Association of British Insurers show, marking a 34% increase on the previous year.
Expert Analysis
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Cos. Can Start Preparing Now For Immigration Beyond Brexit
Ahead of the U.K.'s likely departure from the European Union on Jan. 31, 2020, companies should use the one-year transition period to help workers understand any new registration requirements, evaluate budgetary concerns and expedite any employee relocations, say Julia Onslow-Cole and Charlotte Wills at Fragomen.
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#MeToo Pressure On UK Businesses Is Set To Rise
Recent declarations by the Financial Conduct Authority and Prudential Regulation Authority indicate that sexual harassment in the U.K.'s financial services industry may lead to consequences under the newly expanded Senior Managers and Certification Regime, and other sectors are facing growing scrutiny as well, say attorneys at Covington.
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Opinion
UK's Insurer Investigations May Not Help Policyholders
The U.K. Ministry of Justice's recent investigations into insurers suspected of not passing on savings to consumers suggests insurers may see consequences for their hollow promises, but only if the government follows through to hold insurers accountable, says Tom Jones of Thompsons Solicitors.
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The Outlook For Autonomous Vehicles In The UK And US
As both the U.K. and U.S. governments continue to develop regulatory frameworks for autonomous vehicles, manufacturers can take certain steps to avoid litigation and manage risk, say attorneys at FaegreBD.
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Brexit's Impact On London As A Top Int'l Arbitration Seat
Despite concerns that London may be considered a less attractive place to do business post-Brexit, there are many reasons to believe that the city will retain its position as a globally favored arbitral seat, say Adrian Jones and James Wagner at FaegreBD.
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Post-Brexit UK Likely To Conform With EU On Human Rights
In a recent speech, U.K. Foreign Secretary Dominic Raab stated his intent to expand sanctions for human rights violations by extending the so-called Magnitsky amendment, strongly indicating that Britain's exit from the EU would be unlikely to disrupt coordinated efforts to address international transgressions against human rights, says Stephen Baker at Baker & Partners.
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The Evolution Of GDPR Enforcement Across The EU
With the last few months bringing significant fines to major businesses that have breached the European Union's General Data Protection Regulation, it is clear that regulators are moving away from the light-touch approach they employed during the transition to the new rules, says James Simpson of Blaser Mills.
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Series
Why I Became A Lawyer: Being There For Families In Trouble
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.
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3 Ways To Leverage Vulnerability For Lawyer Well-Being
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.
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Zurich Case Brings Clarity To Complex Contempt Proceedings
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.
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What A No-Deal Brexit Would Mean For Dispute Resolution
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.
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The Problem — And Opportunity — Of Implicit Bias In The Bar
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.
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Roundup
Pursuing Wellness
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.
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Series
Why I Became A Lawyer: Expanding The Meaning Of Diversity
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.
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2 Perspectives On Navigating The Litigation Funding Process
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.