Insurance UK

  • 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.

  • 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.

  • 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.

  • 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.

  • 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.

  • 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.

  • 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.

  • 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.

  • 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.

  • 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.

  • 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.

  • February 12, 2025

    Financial Ombudsman's Sudden Exit Draws MP Scrutiny

    A cross-party group of MPs is scrutinizing the sudden and unexplained resignation of the chief executive of Britain's Financial Ombudsman Service after failing to get answers from the body's board.

  • February 12, 2025

    Watchdog Warns Pension Providers Over Climate Lethargy

    The U.K. retirement savings watchdog issued a warning to pension providers Wednesday after campaigners found the sector to be dragging its heels on climate action.

  • February 12, 2025

    Pension Holders OK With AI Customer Support, Survey Shows

    U.K. retirement savers are amenable to the use of artificial intelligence in customer services for pension provision, citing AI's advantages of round-the-clock availability, automation and improved accuracy, a study has found.

  • February 12, 2025

    QIC Denies COVID Cover For Franco Manca Owner

    QIC Europe Ltd. has argued that it is not obliged to cover alleged losses sustained by the owner of a restaurant chain after it temporarily closed sites at the height of the COVID-19 pandemic because there were no cases of the virus "within the immediate vicinity" of the premises.

  • February 12, 2025

    Gowling Steers £250M Pension Deal For Machinery Co.

    A U.K. machinery dealership has passed £250 million ($311 million) of its pension liabilities to Standard Life, the insurer said Wednesday, in a deal advised by law firm Gowling WLG.

  • February 11, 2025

    Audit Watchdog Signals More Support For Stewardship Code

    Britain's audit watchdog on Tuesday said there are now 297 companies signed up to its stewardship code as it looks to finalize the latest iteration of the regime for investors this year.

  • February 11, 2025

    Insurers Ask EU Watchdog To Ease Up On Mass-Lapse Cover

    Europe's insurance federation has warned the European Union's industry regulator to refrain from applying overly rigid requirements on reinsurance protection for insurers if many policyholders cancel cover quickly.

  • February 11, 2025

    Pension Providers Step Up Illiquid Investments In UK

    The largest defined contribution pension providers are aiming to allocate up to 40% of their illiquid portfolios to U.K. assets, a consultancy said Monday, after years of pressure from the government to encourage more domestic investment in long-term projects.

  • February 11, 2025

    Gender Pension Gap Set To Keep Rising, Analysts Predict

    Some 23% of men aged 16 and above are actively contributing to their work-place defined contribution pension plans, compared with only 19% of women, a financial services consultancy said Tuesday, adding to fears that the retirement savings gap between the genders is growing.

  • February 11, 2025

    Pension Schemes 'Healthier' Since 2022 Bond Crisis

    More than half of the pension schemes in Britain are likely to "run on" because of improvements in funding since the liquidity crisis caused by a bond market crash three years ago, a professional services company has said.

  • February 10, 2025

    Haulage Co. Seeks To Shift Crane Damage Liability To Insurer

    A British haulage company has said that its insurer must pay out to cover £1.26 million (£1.56 million) claimed by the owner of a property in an Essex industrial estate if it is found liable for damage caused by a crane one of its employees operated.

  • February 10, 2025

    Gov't Prompted To Prioritize Fighting Economic Crime

    The U.K. government was urged by a financial services group on Monday to spend more on fighting economic crime and to require that tech companies contribute to fraud reimbursement.

  • February 10, 2025

    Pension Deal Adviser Isio Buys Rival Broking Specialist

    Pension advisory business Isio Group Ltd. has formally confirmed its acquisition of rival insurance and risk settlement specialist K3 Advisory Ltd. for an undisclosed fee.

  • February 10, 2025

    Gov't Introduces Reforms To UK Terrorism Reinsurer

    The government rubber-stamped a deal with the U.K.'s state-backed terrorism reinsurer on Monday that it said will minimize the risk to the taxpayer of any future loss.

Expert Analysis

  • Lenders Score Major High Court Victory In Foreclosure Case

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    The U.S. Supreme Court's unanimous ruling on Wednesday in Obduskey v. McCarthy & Holthus LLP removes nearly all activities taken by creditors seeking nonjudicial foreclosure of liens and mortgages from the ambit of the Fair Debt Collection Practices Act, says John Baxter of Nelson Mullins Riley & Scarborough LLP.

  • 3 Brexit Scenarios And Their Implications For US-UK Trade

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    Brexit negotiations are likely to result in one of three scenarios later this month: a Brexit deal, no Brexit at all or a "hard" no-deal Brexit. Each possibility will have different implications for the prospects of a U.S.-U.K. free trade agreement, says Dean Pinkert of Hughes Hubbard & Reed LLP.

  • Frustrating Events: Are Your Contracts Brexit-Proof?

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    In Canary Wharf v. European Medicines Agency, the U.K. High Court recently ruled that the U.K.'s withdrawal from the European Union will not discharge the EMA's lease obligations. Following Brexit, most similar arguments invoking force majeure or frustration are unlikely to succeed, say Rebecca Dipple and Wayne Hofer of Orrick Herrington & Sutcliffe LLP.

  • Simple Secrets For Writing A Killer Brief

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    These days, the legal profession offers meager opportunity for oral argument, so we need to focus on being better, brighter, tighter writers. And the key to writing a better brief is grabbing your judge's attention with a persuasive, well-crafted story, says Daniel Karon of Karon LLC.

  • What 2019 Has In Store For UK Data Protection

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    Many of the big data protection compliance themes of 2018 will continue on this year, including even General Data Protection Regulation preparation, but the possibility of a no-deal Brexit may complicate matters, says Stewart Room of PwC LLP.

  • Opinion

    Brexit International Arbitration Clause Is Misunderstood

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    Much of the criticism aimed at the international arbitration clause in the recent Brexit withdrawal agreement unfairly identifies a perceived lack of transparency and appears to be based on a lack of understanding about the process, says Margarita Michael of O'Melveny & Myers LLP.

  • The Lawyer's Daily

    How To Requalify As A Lawyer In Canada

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    Becoming a lawyer in Canada is a challenging experience for foreign qualified lawyers. In addition to the bar exam, hurdles include obtaining certification from the National Committee on Accreditation, and complications from moving to Canada halfway through the process, says Kyle Abrey, in-house counsel at the Royal Bank of Canada.

  • Legal Technology Is Likely To Flourish In The UK

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    The U.K. may soon surpass the U.S. in legal technology, thanks to regulatory reform, law firm investment and an entrepreneurial environment, says Bridget Deiters of InCloudCounsel.

  • Opinion

    Legal Operations Teams Are Gaining Popularity In EU

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    As the European and global economies continue to change, any legal department that does not want to get outflanked by faster, more agile competitors should consider the value that legal operations teams have to offer, says Hans Albers, president of the Association of Corporate Counsel Europe.

  • Why Proper Document Redaction May Be An Ethical Duty

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    Paul Manafort's attorneys recently filed a court document containing incompletely redacted information, highlighting the need for attorneys to become competent at redaction — or at least at verifying that redaction has been performed correctly. Failure to do either could be construed as legal malpractice, says Byeongsook Seo of Snell & Wilmer LLP.

  • Why The Flood Of GDPR Litigation Has Been Delayed

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    Eight months into the General Data Protection Regulation regime, we have not yet seen the expected deluge of U.K. class actions, but be warned — the floodgates will not remain closed, says Bryony Hurst of Bird & Bird LLP.

  • Opinion

    Law Schools Should Be More Like Medical Centers

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    Medical centers and their faculty matter to the practice of medicine. Law schools and their faculty do not matter to the practice of law, says J.B. Heaton of J.B. Heaton PC.

  • Opinion

    Courts Are Getting It Right On Litigation Funding Discovery

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    Earlier this month, a California federal court denied discovery into the identification of third-party funders with a financial interest in the outcome of an underlying patent infringement action. This decision in MLC v. Micron follows a long line of well-reasoned precedent across U.S. federal courts, say Matthew Harrison and Sarah Jacobson of Bentham IMF.

  • Worldwide Freezing Orders Can Backfire Without Proper Care

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    Worldwide freezing orders, which preserve a respondent's assets until the outcome of the substantive case, are an important weapon in the arsenal of a commercial litigant. However, as FSDEA v. Dos Santos demonstrates, courts lay heavy obligations upon WFO applicants, says Nicola McKinney of Grosvenor Law Ltd.

  • UK Litigation And Guidance Highlight Cybersecurity Risk

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    Recent developments in the United Kingdom emphasize the importance of companies implementing cybersecurity measures proactively both to prevent incidents and to argue in mitigation when, not if, the company does suffer a data breach, say Guillermo Christensen of Ice Miller LLP and Anupreet Amole of Brown Rudnick LLP.

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