Insurance UK

  • 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.

  • February 10, 2025

    BoE Sets Out Pro-Growth Priorities For Finance Infrastructure

    The Bank of England this year will focus on regulating financial market infrastructures to help underpin growth, as it benefits from technology such as artificial intelligence, a senior BoE official said Monday.

  • February 10, 2025

    Ombudsman To Charge Claims Firms For Dispute Referrals

    The Financial Ombudsman Service has said that it will impose a charge on claims companies for referring disputes as it attempts to deal with a surging caseload.

  • February 10, 2025

    Direct Line Directors Back £3.7B Aviva Acquisition Deal

    The directors of Direct Line Insurance Group PLC said Monday that they unanimously recommend that shareholders back the £3.7 billion ($4.6 million) cash and stock takeover offer tabled by Aviva.

  • February 07, 2025

    FCA Doubles Withdrawals, Changes To Misleading Ads In 2024

    The Financial Conduct Authority said Friday its interventions led to authorized businesses withdrawing or amending 19,766 misleading advertisements in 2024 — up from 10,008 the previous year.

  • February 07, 2025

    UK Litigation Roundup: Here's What You Missed In London

    This past week in London has seen Investec Bank PLC sue two diamond tycoons, London florist Nikki Tibbles file a claim against an "imitator company," a direct descendant of the Cartier family launch a claim, and a Coronation Street actor hit footballer Joe Bunney with a defamation claim. Here, Law360 looks at these and other new claims in the U.K.

  • February 07, 2025

    Blowback From Name And Shame Plan Hurts FCA Credibility

    An embarrassing rebuke for the City watchdog's controversial proposal to "name and shame" companies under investigation for financial misconduct at an early stage has undermined its regulatory credibility as well as efforts to boost London's competitiveness as a financial center.

  • February 07, 2025

    Goldman-Backed Clear Expands In Ireland With Broker Buy

    Insurance broker Clear Group has said it has bought Phelan Caswell Insurances Ltd. to broaden its footprint in the Irish market — following a string of other purchases by the U.K. company.

  • February 07, 2025

    EU Finance Watchdog Seeks Ways To Ease Reporting Burden

    The European Securities and Markets Authority unveiled plans on Friday to streamline and reduce the reporting burden for the financial sector as it aims to cut down on costs and complexity.

  • February 07, 2025

    Pension Plans Urged To Eye Bulk Annuity Sustainability

    The U.K. retirement savings watchdog has told pension trustees to weigh sustainability guidelines when they enter into a bulk annuity deal.

  • February 07, 2025

    Clifford Chance Helps L&G Sell US Insurance Biz For $2.3B

    Legal & General said Friday that it will sell its U.S. protection insurance business to Meiji Yasuda, a Japanese insurer, for $2.3 billion in cash in a move to grow its pensions risk transfer business and allow it to reward shareholders.

  • February 06, 2025

    Allianz UK Detects £157M 'Record' Level Of Fraud In 2024

    Allianz UK on Thursday said it uncovered a total of £157.24 million ($195.94 million) worth of insurance fraud in 2024 — a 10% year-on-year increase in part driven by the rising cost of living increasing the number of consumers turning to scams.

  • February 06, 2025

    Pension Funds Warned Of Impact Of Global Trade War

    Pension providers should consider the potential impact on their funding levels of a global trade war in the coming months, a consultancy warned Thursday.

  • February 06, 2025

    UK Car Insurers Named And Shamed For Claims Delays

    Two out of five car insurance customers experience delays in getting paid by their insurers, a U.K. consumer group said Thursday, as it urged the Financial Conduct Authority to crack down on poor claims handling.

  • February 06, 2025

    Global Commercial Insurance Rates Drop 2% In Late 2024

    The average price of commercial insurance in global markets fell by 2% in the last three months of 2024, Marsh has said, marking the second consecutive quarterly decrease after seven years of rising rates.

  • February 06, 2025

    Weil Guides BCI's £1B Offer For Luxembourg Investor

    Canadian asset manager British Columbia Investment Management Corp. plans to take investor BBGI Global Infrastructure SA of Luxembourg private in a cash deal worth £1 billion ($1.24 billion), the companies said Thursday.

  • February 05, 2025

    FCA Told To Shelve Controversial Investigation Plans

    The Financial Conduct Authority should not go ahead with controversial plans to name firms under investigation at an earlier stage unless it can ensure the proposals sufficiently balance increased transparency and managing the potential risks to firms, a House of Lords committee said Thursday.

  • February 05, 2025

    Ryanair Loses €1B TAP State Aid Challenge

    Low-cost Irish airline Ryanair has lost yet another attempt to stop state aid from being delivered to its rivals in the airline industry after a European Union court on Wednesday batted away its challenge to a €1.2 billion ($1.249 billion) aid package for the parent company of TAP Air Portugal.

  • February 05, 2025

    Insurers Say Stranded Jets Not Covered By War Risks Policies

    War-risk insurers argued Wednesday that they should not have to cover losses of aircraft stranded in Russia after the invasion of Ukraine, arguing airlines retaining the aircraft were not covered by the leasing airlines' insurance policy.

  • February 05, 2025

    Insurers Call For Tougher Line On Cladding After Grenfell

    The U.K. government should consider amending regulations to require the additional removal of flammable cladding from apartment buildings if it wants to cut the cost of insurance for leaseholders, a trade body warned.

  • February 05, 2025

    Audit Watchdog Seeks Rules For Sustainability Opinions

    Britain's accounting regulator called Wednesday for the regulation of sustainability assurance reports by auditors and others to iron out current inconsistencies in quality.

  • February 05, 2025

    Man Sentenced Over £60K COVID Travel Insurance Fraud

    A man who pretended he was forced to cancel 14 holidays because of COVID-19 restrictions so he could claim more than £61,000 ($76,500) in insurance payouts has been sentenced at a London court to two years in prison, suspended for 18 months.

  • February 04, 2025

    Sustainable Growth Must Take Pensions Priority, LCP Says

    Government plans to drive growth in the U.K. through redirected investment from retirement savings schemes must prioritize environmental concerns and sustainability, a consultancy said Tuesday.

  • February 04, 2025

    MPs Launch Inquiry Into AI Use In Financial Services

    A cross-party group of members of Parliament has started an inquiry into the use of artificial intelligence in financial services, after recent revelations about Chinese AI startup DeepSeek showed the market's volatility.

  • February 04, 2025

    HSF Steers Reinsurance Broker Buy For Miller

    Insurance broker Miller said it has agreed to acquire specialist reinsurance broker AHJ Holdings Ltd. for an undisclosed sum, reaching a "major milestone," in a deal guided by Herbert Smith Freehills LLP and Stephenson Harwood LLP.

Expert Analysis

  • 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.

  • 2 BVI Cases Explore Scope Of Proper Purpose Test

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    Two recent cases in the Eastern Caribbean Court of Appeal have presented British Virgin Island courts an opportunity to develop a local jurisprudence regarding the BVI Business Companies Act and provide guidance on how the proper purpose test is to be applied, says Rosalind Nicholson of Walkers Global.

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