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Insurance UK
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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.
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April 03, 2025
Property Co. Sues Broker For £2M Over Fire Claim Refusal
A property developer has sued an insurance broker for almost £2 million ($2.6 million) for its allegedly bungled handling of an insurance policy that resulted in Aviva refusing to cover for a fire that destroyed a Grade II listed building.
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April 03, 2025
Gowling, Police Team Up To Recoup Fraud Victims' Assets
City of London Police said Thursday that it has teamed up with international law firm Gowling WLG to support victims of fraud through a civil asset recovery program.
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April 03, 2025
Pensions Watchdog Issues £98K In Fines Over 'Value' Reports
The retirement savings watchdog said Thursday that it has fined small pension plans almost £98,000 ($129,000) for breaches of governance regulations introduced in 2021.
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April 03, 2025
Insurance Trade Body Names Swinburne New Chair
The Association of British Insurers said Thursday that it has named former member of the European Parliament Jacqueline Swinburne as its new independent chairperson to succeed Nicky Morgan, with immediate effect.
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April 03, 2025
UK Trustee Firms Face New Regulatory Oversight
Britain's retirement savings watchdog has unveiled plans formally to regulate professional trustee firms amid significant growth in the sector.
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April 03, 2025
Ireland Warns On Premiums After Fall In Injury Claims Value
The government of Ireland has warned insurers over the price of cover after official figures revealed a drop in the value of injury claims.
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April 03, 2025
Pinsent Masons Promotes 24 Partners In Latest Global Round
Pinsent Masons said Thursday that it has promoted 24 lawyers to its partnership, a slight rise from 2024's numbers, with women accounting for more than half of those who made the grade.
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April 02, 2025
City Seeks Regulatory Talks With US Amid Trade Tension
A U.K. financial services trade body called on the government Wednesday to enter stronger financial regulatory dialogues with the U.S. and other countries amid trade uncertainties, boosting investment in high-growth companies.
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April 02, 2025
Management Biz. Loses Costs Bid Over Consultant's Theft
An employment tribunal has refused to force a director to pay the £12,060 ($15,645) that a workforce management firm incurred in defending his claims of unfair dismissal, ruling he didn't sue vexatiously.
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April 02, 2025
FCA 'Thinking Radically' On Savings Welcome, LCP Says
The Financial Conduct Authority "thinking radically" about allowing savers to use accrued pension pots for house deposits is "very encouraging," Lane Clark & Peacock LLP has said.
Expert Analysis
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3 Insurance Issues Raised By The Notre Dame Cathedral Fire
The devastating Notre Dame Cathedral fire provides a rare opportunity to consider the many unique factors that owners and insurers must consider when insuring national treasures, say attorneys at Zelle.
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Where The Post-Libor Litigation Tsunami Will Hit
The permanent cessation of the Libor rate in 2021 will likely trigger a flood of litigation over many existing contracts that lack effective replacements. Marc Gottridge of Hogan Lovells identifies the types of products that may be most susceptible to disputes.
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Despite Decline In Cyberattacks, UK Cos. Should Stay Vigilant
The U.K. Department for Digital, Culture, Media and Sport's latest cybersecurity survey shows that U.K. cyberattacks have decreased in the last 12 months, likely thanks in part to the General Data Protection Regulation. But companies' cybersecurity efforts should continue to evolve, say experts at PriceWaterhouseCoopers.
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UK Antitrust Watchdog Proposals Would Bolster Enforcement
The U.K. Competition and Markets Authority's proposals for reshaping competition enforcement and consumer protection would shift the historical balance in U.K. competition policy, increasing regulatory burden on companies while weakening judicial scrutiny of CMA actions, says Bill Batchelor of Skadden.
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Guest Feature
Preet Bharara On The Human Factor In The Justice System
A key theme in Preet Bharara's new book is the enormous role the human element plays in the administration of justice. The former U.S. attorney for the Southern District of New York discussed this theme, among other topics, in a recent conversation with White and Williams attorney Randy Maniloff.
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Considering A More Cost-Effective Future For The SFO
In light of multiple recent examples of U.K. Serious Fraud Office investigations yielding far less than the agency may have hoped for, a new approach to prosecuting individuals and corporations may be a smart investment, says Azizur Rahman of Rahman Ravelli.
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Lessons From Carphone Warehouse's Partial FCA Settlement
In the first case decided under the U.K. Financial Conduct Authority's new partial settlement process, Carphone Warehouse demonstrates not only the possible value of cooperating with authorities but also the cost of failing to right previous wrongs, says Syedur Rahman of Rahman Ravelli Solicitors.
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Collective Redress In The EU: Past, Present And Future
Legislative processes harmonizing collective redress throughout the European Union have accelerated, leading to a proposed requirement that all member states establish collective action mechanisms, but some worry that the directive lacks sufficient guarantees against abusive litigation, say Philippe Métais and Elodie Valette of White & Case LLP.
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Lenders Score Major High Court Victory In Foreclosure Case
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.
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3 Brexit Scenarios And Their Implications For US-UK Trade
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.
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Frustrating Events: Are Your Contracts Brexit-Proof?
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.
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Simple Secrets For Writing A Killer Brief
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.
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What 2019 Has In Store For UK Data Protection
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.
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Opinion
Brexit International Arbitration Clause Is Misunderstood
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.
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The Lawyer's Daily
How To Requalify As A Lawyer In Canada
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.