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Insurance UK
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June 30, 2025
Finance Gender Gap Progress Too Slow, Gov't Report Warns
A body set up by HM Treasury to increase the representation of women at senior levels in finance warned Monday that improving gender parity in the sector remains too slow and urged companies to "accelerate" their efforts.
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June 30, 2025
Insurer Competition Drives Down Pension Plan Costs
Increased competition in the pensions insurance market has driven down costs to their lowest level in two years, professional services company Aon said Monday.
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June 30, 2025
EU Eyes Adding ESG Risk In Stress Tests For Banks, Insurers
Three European Union finance watchdogs have proposed rules to ensure that national banking and insurance regulators integrate environmental, social and governance risks into supervisory stress-testing in a more harmonized way.
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June 30, 2025
BP Marsh Raises Stake In RPC-Advised Broker To 39%
Private equity investor B.P. Marsh said Monday that it has snapped up an additional 2% interest in Pantheon for £5.5 million ($7.5 million), expanding its holding in the Lloyd's market broker to 39%.
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June 30, 2025
FCA's New Enforcement Regime Threatens Firms, Individuals
The Financial Conduct Authority could damage the reputations of businesses and individuals under investigation in cases that it publicizes anonymously as an unintended consequence of a new enforcement policy, lawyers have warned.
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June 29, 2025
FCA Presents Targeted Support Rules For Finance Firms
The Financial Conduct Authority said Monday it has set out a fast-track plan to allow financial services firms to provide a new type of "targeted support" to unadvised customers about pensions and investments.
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June 27, 2025
EU Watchdog Floats Allowing Funds Some Riskier Investing
The European Union's market watchdog has recommended that the European Commission should reform the rule book governing the bloc's retail investors, calling for a more relaxed stance on alternative assets investments and improved regulatory harmonization across member states.
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June 27, 2025
Pensions Admin Staff To Strike Amid Takeover Plan
A union for public sector workers announced a six-week-long strike action Friday against the management of pension administrator MyCSP, ahead of a planned takeover of the administration of civil service pensions by professional services company Capita.
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June 27, 2025
UK Litigation Roundup: Here's What You Missed In London
This past week in London has seen the British Basketball Federation sued by members of the men's professional basketball league for alleged competition breaches, songwriter Coco Star file an intellectual property claim against Universal Music Publishing, and the Solicitors Regulation Authority file a claim against the Post Office amid ongoing investigations into law firms linked to the Horizon IT Scandal. Here, Law360 looks at these and other new claims in the U.K.
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June 27, 2025
Aon Denies Ex-Exec's $1.3M Bonus Bid Over Early Exit
Aon has rejected its former insurance consulting chief's $1.3 million claim for bonus and stock options, arguing that his employment contract ended before the payout date.
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June 27, 2025
ICO Secures Guilty Verdicts In Massive Data Misuse Case
The director of a legal funding company and seven other men have been convicted over a personal injury data conspiracy at an English court, the U.K.'s data regulator has said.
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June 27, 2025
Preventing Financial Crisis Best Thing For Growth, BoE Says
The government's growth agenda should not equate to throwing out all safeguards, because preventing a major financial crash is vital for ensuring Britain is competitive, a senior member of the Bank of England said Friday.
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June 27, 2025
Eversheds Leads £44M Deal With Industrial Co.'s Pension Plan
Industrial manufacturer Milliken has secured its U.K. employee pension scheme through a bulk purchase annuity transaction valued at £44 million ($60 million) with Royal London, Britain's largest mutual life insurer said Friday.
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June 26, 2025
Tokio Marine Unit Hit In £46M Case Over Mayfair Development
A Jersey-based property development company has sued a Tokio Marine HCC unit and an insolvent construction contractor for around £46 million ($63.2 million) for a string of alleged failures linked to the building of an apartment block and luxury hotel in Mayfair, west London.
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June 26, 2025
Ex-Consultant Wants £1.4M Over Botched Insurance Cover
A former consultant has sued a wealth management and benefits consultancy for £1.4 million ($1.9 million) for allegedly failing to arrange adequate insurance cover, which she claims left her short of money during serious illness and surgery.
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June 26, 2025
BoE Launches Forum For Financial Firms And Policy Body
The Bank of England said Thursday it has set up a forum for senior individuals in large financial services firms to liaise with the central bank's Monetary Policy Committee, which sets interest rates.
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June 26, 2025
Audit Watchdog Sets New Guidance For 'Black Box' AI
Britain's accounting watchdog warned Thursday in new guidance on using artificial intelligence in audits that the opacity of AI models makes it crucial for firms to document how they are controlled.
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June 26, 2025
Gov't Mulls Mandating Climate Plans From Banks, Insurers
Large banks and insurance companies in Britain could be forced to develop and publish a strategy for how they plan to align their business with global climate targets under proposals floated by the U.K. government.
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June 26, 2025
PIC Inks £900M Pension Deals For Energy Tech Biz
Pension Insurance Corp. PLC said Thursday that it has completed buy-ins with three plans sponsored by Baker Hughes Co., a global energy technology business, covering liabilities worth £900 million ($1.2 billion).
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June 25, 2025
Solicitor Hit With £30K Court Bill Over Fake Car Claims
A solicitor has been handed an eight-month suspended sentence and a £30,874 ($40,871) bill for filing false claims that city potholes in Stoke-on-Trent were damaging cars, following an investigation that uncovered anomalies in his invoices.
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June 25, 2025
EU Watchdog Pushes To Expand Digital Asset Program
The European Union's market watchdog advised lawmakers Wednesday to make a pilot scheme for tokenizing securities on digital ledger technology more flexible for investors and permanent.
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June 25, 2025
EU Insurers Push For Simplified Cybersecurity Regulation
A trade body for European insurers urged the European Commission on Tuesday to streamline the bloc's potentially counter-productive rule book on cybersecurity and digital resilience to help reduce duplication as the compliance burdens on the sector increase.
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June 25, 2025
Insurance Reforms Offer No Benefit, Irish Cos. Claim
Almost all businesses in Ireland claim they have not benefited from sweeping insurance reforms introduced by the country's government in recent years, campaigners said Wednesday.
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June 25, 2025
Adviser Wren Sterling Expands In Scotland With Acquisition
Financial and pensions advisory business Wren Sterling said Wednesday that it has acquired City Financial (Aberdeen) Ltd., expanding its presence in Scotland.
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June 25, 2025
Geopolitical Instability Tops Aviation Insurers' Concerns
The threat of further geopolitical instability is the biggest headache that aviation insurers anticipate over the next five years, according to a survey published Wednesday.
Expert Analysis
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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.
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Legal Technology Is Likely To Flourish In The UK
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.
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Opinion
Legal Operations Teams Are Gaining Popularity In EU
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.
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Why Proper Document Redaction May Be An Ethical Duty
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.
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Why The Flood Of GDPR Litigation Has Been Delayed
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.
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Opinion
Law Schools Should Be More Like Medical Centers
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.
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Opinion
Courts Are Getting It Right On Litigation Funding Discovery
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.
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Worldwide Freezing Orders Can Backfire Without Proper Care
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.
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UK Litigation And Guidance Highlight Cybersecurity Risk
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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2 BVI Cases Explore Scope Of Proper Purpose Test
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.