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Insurance UK
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April 09, 2025
Gallagher Liable For Data Breach Insurance Cover Failure
Gallagher must compensate a housing trust for its botched handling of insurance cover following a data breach, after a London court ruled that the trust had lost out on the chance to be insured for a combined total of up to £11 million ($14 million) across three different policies.
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April 09, 2025
Howden Accused Of Poaching Entire W&I Team From PIB
A subsidiary of insurance consolidator PIB has accused Howden of decimating its warranty and indemnity team by poaching 32 staffers and executives and for recruitment in the rival's underwriting division, Dual.
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April 09, 2025
Scottish Friendly Acquires £2.16B In Fidelity Pension Assets
Mutual life insurer Scottish Friendly said Wednesday that it has acquired £2.16 billion ($2.76 billion) of pension and annuity payment books of British investment firm Fidelity International.
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April 09, 2025
EU Unveils Road Map To Simplify Insurance Regulations
The European Union's insurance watchdog has unveiled a plan that aims to simplify financial services regulations in a bid to drive growth amid economic instability.
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April 09, 2025
Rothesay Seals £105M Pensions Deal With Skipton
A pension plan for U.K. building society Skipton has agreed a £105 million ($135 million) full buy-in deal with insurer Rothesay Life PLC, securing the benefits of all 705 members.
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April 08, 2025
Kuwait Pension Chief's Estate Denies $1B Bribery Claims
The estate of the deceased Kuwaiti pension authority director denied on Tuesday that the businessman was involved in an unlawful scheme of corrupt payments in excess of $1 billion, saying he believed the payments were legitimate and above-board.
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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.
Expert Analysis
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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.
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Answers To Key Legal Finance Ethics Questions
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.
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Competing Legal Factors Vex Insurance Arbitration Disputes
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.
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Cannabis Investors Should Beware Money Laundering Risk
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.
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Real-Life Lessons For Lawyers From 'Game Of Thrones'
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.
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UK Firms Should Be Prepared For Government Raids
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.
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Series
Why I Became A Lawyer: Completing The Journey Home
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.