Insurance UK

  • January 24, 2025

    Gov't Stats Reveal 13% Of Pensioners Living In Poverty

    The government has said that approximately 13% of pensioners are living in poverty, publishing figures that shine further light on the issue of retirement deprivation that is now under parliamentary scrutiny.

  • January 23, 2025

    Aspen Sued For £4.2M Over Wood Pellet Equipment Damage

    A company claiming to be one of the largest wood pellet manufacturers in the U.K. has sued Aspen Insurance UK Ltd. for over £4.2 million ($5.2 million) for allegedly failing to cover losses the company says it sustained after damage to its production equipment.

  • January 23, 2025

    Actuaries Body Wants Separate Inheritance Tax For Pensions

    The government must consider a separate inheritance tax regime for pension assets, a trade body said, warning that proposed reforms were unworkable as currently drafted.

  • January 23, 2025

    FCA Finds Gaps In Brokers' Money Laundering Defenses

    The Financial Conduct Authority on Thursday urged brokers to tighten anti-money laundering controls, after a review it ran found gaps in their defenses against the flow of tainted cash through Britain's capital markets.

  • January 23, 2025

    Watchdog Restricts Scottish Broker Over Premium Concerns

    The Financial Conduct Authority has restricted a Scotland-based insurance broker from carrying out regulated activities over "concerns" the business has sold policies but failed to pass on payments to insurers.

  • January 23, 2025

    Archaeology Trust Sues Blake Morgan Over Pensions Advice

    An archaeological trust has accused Blake Morgan LLP of providing negligent advice on the closure of its pensions plan, telling a London court that a failure to validly shut the savings scheme led to £2.5 million ($3.1 million) in extra payouts.

  • January 23, 2025

    Gov't Floats Tweak To Pension Tax As £49M Returned

    The government confirmed Thursday that it will close a controversial loophole that has resulted in retirees being overtaxed to the tune of £1.3 billion ($1.6 billion) over the past decade.

  • January 23, 2025

    5 Questions For Katten Partner Nathaniel Lalone

    The Digital Operational Resilience Act has set tough new rules for financial businesses in the European Union to prevent disruptions in digital services from external providers. Here, Nathaniel Lalone, of Katten Muchin Rosenman LLP, tells Law360 about how the act could have an impact on some financial entities in Britain.

  • January 22, 2025

    Tyson Foods' Insurer Can Sue Over Fire Payout In England

    Tyson Foods' captive insurer can pursue litigation against a reinsurer in England for payouts following a fire at one of the food giant's Alabama plants, after a London court found the companies had chosen the English jurisdiction to take priority over arbitration in New York.

  • January 22, 2025

    Steakhouse Settles With QIC Europe Over COVID-19 Payout

    A steakhouse restaurant chain has reached a settlement with its insurer in a multimillion-pound dispute over its business interruption policies in connection with the national lockdowns imposed during the COVID-19 pandemic.  

  • January 22, 2025

    UK Gov't To Tap Into Bank Accounts Of Benefits Fraudsters

    Benefits cheats who fail to reimburse taxpayers could have cash owed taken directly from their bank accounts, as part of the U.K. government's plan to launch the "biggest fraud crackdown in a generation."

  • January 22, 2025

    UK Gov't Maintains Pensions Enrollment Earning Trigger

    The government has said it will retain the current earnings threshold at which workers are automatically enrolled into pension plans, despite an intention to reform the rules.

  • January 22, 2025

    UK Insurance Premium Tax Haul Up 10%, Hits Record £6.7B

    The U.K. government raised a record £6.7 billion ($8.3 billion) in insurance premium tax in the first nine months of the financial year ending March, up 10% from the corresponding period a year earlier, according to HMRC figures released Wednesday.

  • January 21, 2025

    La. Judge Lifts Arbitration Order In $7M Ida Damage Case

    A Louisiana federal judge lifted a stay and vacated an order to arbitrate a $7 million Hurricane Ida damage claim against domestic surplus insurers, ruling that a recent decision from Louisiana's top court represents an "'intervening change in the controlling law.'"

  • January 21, 2025

    Royal London Data Boss Loses Early Battle Over Redundancy

    A data privacy lead can't revive a bid to reinstate his job until trial because he failed to provide an employment tribunal with any new evidence showing that the Royal London Mutual Insurance Society made him redundant by punishing him.

  • January 21, 2025

    Climate-Related Financial Reporting 'Inconsistent,' FRC Says

    Britain's audit watchdog on Tuesday said the quality of the first round of mandatory climate-related finance disclosures by large British businesses was "inconsistent," but is set to mature as companies adapt to the requirement.

  • January 21, 2025

    Insurers Fight To Slash COVID Biz Interruption Claims

    Insurers sought on Tuesday to drastically scale back payouts for hospitality businesses closed during COVID-19 pandemic lockdowns five years ago, in a test case that could have a much wider impact on hundreds of other policyholders.

  • January 21, 2025

    Investment Bosses Lose Appeal Of £37M Fraud Convictions

    Two directors of an ethical-investment scheme failed to overturn their convictions for defrauding investors out of £37 million ($45.5 million), as a London appeals court ruled Tuesday that the charges against them were clear and well understood at trial.

  • January 21, 2025

    Moderate Retirement Pension Gap Rises To More Than £31K

    U.K. households face a £31,500 ($38,700) average pension shortfall compared with the amount needed for a moderate standard of living in retirement, according to a report by Hargreaves Lansdown published on Tuesday.

  • January 21, 2025

    Reach Newspaper Group To Fill £5M Hole In Pension Fund

    Publisher Reach PLC has confirmed it will plug a £5 million ($6.2 million) funding gap in one of its retirement saving plans after it discovered a "historical error" during preparations for a pension buyout.

  • January 27, 2025

    Ashurst Expands Consulting Team With New UK Head

    Ashurst said on Monday that it has hired a new chief for its risk advisory business in the U.K. as clients increasingly face challenges that require more than legal advice, with concerns about cybersecurity and environmental, social and governance matters at the top of their list.

  • January 20, 2025

    Florida Reinsurance Broker Launches London Offering

    The reinsurance brokerage arm of Florida-based Baldwin Group has said it has entered the London market in what the business called a "major milestone."

  • January 20, 2025

    COVID Biz Insurance Litigation Returns With Test Case Appeal

    A group of insurers will challenge test-case litigation over business interruption insurance in connection with the COVID-19 pandemic at the Court of Appeal in London on Tuesday, a hearing that lawyers say could have a long-term impact on disputes over cover.

  • January 20, 2025

    Gov't Urged To Act On Rising Pensioner Poverty

    The government must take immediate and targeted action to halt growing poverty among the oldest in society, by supporting those failed by the means-tested benefits system and legacy state retirement savings plans, a left-wing advocacy group has said.

  • January 20, 2025

    BoE Backs Gov't Call For Growth-Friendly Regulation

    The Bank of England's regulatory arm told the government in a letter published on Monday that it will support economic growth by simplifying some rules for banks and insurers.

Expert Analysis

  • UK Privacy Rules That Can Catch You Off Guard

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    The recent data breach scandal involving the Leave.EU campaign shows that the U.K. Privacy and Electronic Communications Regulations is often overlooked by businesses, says Alexander Edwards of Rosling King LLP.

  • Autonomous Vehicles And UK Product Liability Law: Part 2

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    With autonomous vehicles expected to hit the streets of the United Kingdom soon, manufacturers, insurers and their legal counsel face the challenge of determining how the U.K.'s product liability laws will be applied to questions of negligence, evidence and contracts raised by self-driving vehicles, says Michaela Herron of Bristows LLP.

  • Autonomous Vehicles And UK Product Liability Law: Part 1

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    Autonomous vehicles present a number of challenges to the United Kingdom's product liability legal framework, especially with regard to the vehicles' heavy reliance on software, consumers' expectations of safety and the need for compliance with varying local traffic rules, says Michaela Herron of Bristows LLP.

  • A Victory For Legal Privilege In Cross-Border Investigations

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    The U.K. Court of Appeal's recent decision in Serious Fraud Office v. Eurasian Natural Resources is a substantial step toward confirming the application of legal privilege in internal investigations, and has significantly reduced the divergence in U.K. and U.S. privilege law, say attorneys with Milbank Tweed Hadley & McCloy LLP.

  • UK And EU Crawl Toward Virtual Currency Regulation

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    The lack of a harmonized approach to regulation of initial coin offerings in the EU is leading to a piecemeal approach across member states that will hamper blockchain developments, say Jacqui Hatfield and Rebecca Kellner of Orrick Herrington & Sutcliffe LLP.

  • Is Equifax Data Breach Penalty A Sign Of Fines To Come?

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    Recently, the U.K. Information Commissioner's Office fined Equifax £500,000 for falling victim to a cyberattack — the highest penalty available. Some speculate that this decision is a sign that the ICO is already assuming a tougher stance following the commencement of the General Data Protection Regulation, say James Castro-Edwards and Eaven Prenter of Wedlake Bell LLP.

  • Ensure That Dispute Resolution Mechanisms Are Brexit-Proof

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    With only five months remaining for the U.K. to make a deal with the EU and the possibility of a "no-deal" Brexit looking increasingly plausible, now is the time to take proactive steps to protect your clients’ positions and to make sure that their contracts are effective and enforceable, say Claire Stockford and Caitlin McLean of Shepherd & Wedderburn LLP.

  • 5 Cyber Insurance Pitfalls To Avoid In The UK

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    Faced with the opportunity to purchase cyber risk insurance to mitigate the damage caused by cyber events, prospective policyholder companies need all the help they can get in order to navigate this increasingly complex part of the U.K. insurance market, says Richard Mattick of Covington & Burling LLP.

  • UK Unexplained Wealth Orders: More Bark Than Bite So Far

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    This month, the U.K. National Crime Agency successfully resisted a challenge to its first unexplained wealth orders. This is a victory, but the agency has some way to go to show that UWOs will be a meaningful tool in the U.K.'s anti-money laundering arsenal, says Fred Saugman of WilmerHale.

  • GDPR Compliance Questions For Blockchain Firms

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    The General Data Protection Regulation applies to blockchain networks that directly store personal information. However, blockchain technology can make compliance challenging, and also raises questions regarding who bears responsibility for compliance, say attorneys at Covington & Burling LLP.

  • Knowledge Management: An Unsung Hero Of Legal Innovation

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    As technology evolves, law firms are increasingly looking for ways to improve communication, transparency and service for their clients. Firms should put knowledge management at the core of their value proposition to create a competitive advantage, says Rob MacAdam at HighQ.

  • Uncertainty Concerning The UK's Proper Purpose Rule?

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    The U.K. Supreme Court's judgment in Eclairs v. JKX seemingly opened the door for a broad interpretation of the proper purpose rule, but despite the confusion, the rule will continue to operate as a useful legal safeguard for shareholders, say Nick Hoffman and Conal Keane of Harney Westwood & Riegels LLP.

  • How Europe's AML Regime Is Tackling Virtual Currencies

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    The use and provision of virtual currency services have remained largely unregulated in the European Union, but its newest anti-money laundering directive could be the first step to tougher regulation, say Chris Warren-Smith and Paul Mesquitta of Morgan Lewis & Bockius LLP.

  • UK Ruling Signifies Greater Cross-Border Sharing Of Data

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    In KBR v. SFO, the U.K. High Court confirmed that the Serious Fraud Office can require foreign companies to produce documents held outside the U.K. as long as there is a sufficient connection between the company and the jurisdiction. This judgment will embolden other agencies with similar compulsory document production powers, says Andrew Smith of Corker Binning.

  • Why Law Firms Should Monitor The Dark Web

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    Dark web monitoring allows law firms to see what sensitive information may have made its way onto the thriving global underground marketplace where cybercriminals buy and sell exposed data. It can also help lawyers advise clients on a wide range of legal and business matters, say Anju Chopra and Brian Lapidus of Kroll.

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