Insurance UK

  • February 01, 2023

    BoE To Issue Rules On LDI Liquidity Next Month

    The Bank of England vowed Wednesday to set out long-term minimum liquidity buffers for liability-driven investment funds by the end of March, saying it has learned lessons from the bond market crisis last year that spilled over into the pension sector.

  • February 01, 2023

    State-Sponsored Online Attacks On The Rise, Insurer Says

    Online attacks on companies and attacks triggered by governments against political foes were among the top digital risks across the world in 2022, an insurer said on Wednesday.

  • February 01, 2023

    EU Eyes New Guidelines For Data Sharing Among Regulators

    European Union finance watchdogs on Wednesday floated proposals helping regulators across the bloc swap information on whether individuals with significant influence in firms are fit and proper.

  • February 01, 2023

    Smith Gambrell, Freeborn Eye UK Growth In Merger

    Smith Gambrell & Russell LLP and fellow U.S. law firm Freeborn & Peters LLP expect their impending merger to give them a leg up for dispute resolution and insurance work in the U.K., citing the opportunity for international expansion as a key driver behind their decision to join forces in an interview with Law360.

  • February 01, 2023

    Clifford Chance, DLA Steer £762M Pension Deal For Morrisons

    WM Morrison Supermarkets Ltd. has offloaded £762 million ($940 million) of pension liabilities to insurer Rothesay Life, in a deal guided by Clifford Chance LLP and DLA Piper.

  • January 31, 2023

    Gov't Can't Recoup £17B Error From Pensions, Unions Argue

    The U.K. government cannot change the way it regulates public-sector pension schemes to recoup the costs of fixing age discrimination breaches against scheme members, a trade union for firefighters argued to the High Court on Tuesday.

  • January 31, 2023

    UK Gov't Floats Plans To Regulate Cryptoassets

    The government announced proposals Tuesday to regulate crypto-assets similarly to other financial services and protect consumers, including a market abuse regime to weed out and punish market manipulators.

  • January 31, 2023

    Insurers Win Appeal To Keep $40M COVID Dispute Out Of UK

    An appellate court ruled Tuesday that a dispute over a Middle Eastern retail giant's $40 million pandemic disruption claim only belonged in the U.K. if local courts wouldn't take the case.

  • January 31, 2023

    Firms Ask FCA For Extension To Consumer Rules Deadline

    Some financial companies have urged the Financial Conduct Authority to give them more time to comply with new rules coming into force on Wednesday for assessing clients as high-net-worth or sophisticated before they can invest in high-risk products, according to consultants.

  • January 31, 2023

    Asset Manager Can't Kick $870M Fraud Suit To Switzerland

    An investment manager accused of bribing the former head of Kuwait's public pensions authority cannot escape litigation in England after a London judge ruled Tuesday that the proceedings shouldn't be heard in Switzerland alongside an $870 million corruption case already underway there.

  • January 31, 2023

    Aegon Completes €42.5M Buyback For Compensation Plans

    Aegon NV on Tuesday said it had completed its €42.5 million ($46 million) share buyback plan, which was initiated earlier in January to pass on the shares to its senior management.

  • January 31, 2023

    Landmark Ruling Could Boost Personal Injury Claimant Sector

    A landmark test case has opened a path for people suffering from personal injuries after road accidents to move forward with compensation, although experts say it could push up the cost of motor insurance for policyholders.

  • January 31, 2023

    Looming Pension Portal Launch Stoking Worry, Survey Shows

    Only one in 20 pension scheme trustees and in-house scheme managers expect to be able to provide pensions data for all their members by the launch of the long-awaited retirement savings portal program, according to a poll published Tuesday.

  • January 31, 2023

    Ex-Exec Denies Poaching Clients From Insurance Brokerage

    A former director of an insurance broker has denied soliciting the company's clients after he took up a new role at a competitor, saying he did not misuse any confidential information.

  • January 31, 2023

    SME Group Backs Rules Tackling Late Payments, Insurance

    A trade body on Tuesday welcomed plans by the government to remove barriers that prevent small businesses from bidding on public sector contracts.

  • January 31, 2023

    HMRC Repaid £1B In Emergency Tax On Pension Withdrawals

    The government has repaid nearly £1 billion ($1.2 billion) since the introduction of pension freedom rules in 2015 in the emergency tax it levied against pension withdrawals, according to figures published on Tuesday.

  • January 31, 2023

    Ince Group Delays Financial Results For 2nd Time

    Ince Group PLC said on Tuesday that it will again push back publication of its results for the last financial year until February, as the publicly listed law firm said that its auditors need longer to complete their work.

  • January 30, 2023

    Exec Says Sullivan & Cromwell Sold Him Out For Allianz Deal

    A former portfolio manager for Allianz SE's U.S. unit claims that his old counsel at Sullivan & Cromwell LLP sold him out and used his privileged communications against him in order to secure a favorable $6 billion deal for the financial services firm.

  • January 30, 2023

    Liberty Defends Refusal To Cover Dept. Store's COVID Closure

    Insurance giant Liberty Mutual has hit back at a luxury department store operator's £18 million ($22 million) claim for pandemic business interruption coverage, arguing that COVID-19 was not a danger within one mile of the business as required under its policy.

  • January 30, 2023

    Lawyers Less Keen Than Firms On More Time In The Office

    Nearly half of lawyers aren't even being asked to spend most of their time in person, even as law firms have been fighting to get their employees to start spending more time in the office again, a new Law360 UK Pulse survey shows, as they struggle to get the right balance in a tight labor market.

  • January 30, 2023

    Financial Stability? Many UK Attys Aren't Feeling It

    Despite a drumbeat of news about increasing London salaries for newly qualified attorneys, the majority of U.K. lawyers consider themselves less financially stable than stereotypes might suggest, according to a new survey by Law360 UK Pulse.

  • January 30, 2023

    Lawyering More Stressful, Less Profitable For Women

    Female attorneys reported lower levels of satisfaction compared to their male peers over everything from finances to stress levels and billable-hour requirements, according to a new survey by Law360 UK Pulse.

  • January 30, 2023

    The 2023 UK Lawyer Satisfaction Survey

    Lawyers for the most part view their financial stability as average, and a good portion are likely to seek a new job in the coming year, according to the inaugural Law360 UK Pulse Lawyer Satisfaction Survey.

  • January 30, 2023

    FCA Reappoints Manzoor As Financial Ombudsman Chair

    The Financial Conduct Authority announced on Monday the reappointment of Zahida Manzoor as chair of Britain's financial dispute resolution agency for another term.

  • January 30, 2023

    AmTrust Hits Back At Legal Funder's £56M Insurance Suit

    AmTrust has argued that it doesn't owe Novitas £55.6 million ($68.9 million) for after-the-event litigation insurance policies, saying it actually already overpaid the troubled legal funder by £6.3 million in solicitors' fees.

Expert Analysis

  • Has The Liberalization Of Legal Services Achieved Its Aims?

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    Although there is still some way to go, alternative business structures are now an increasingly prominent feature of the legal services landscape, and clients can expect greater choice, improved quality and more manageable costs, as was intended by this shake-up of the profession's regulatory frameworks 15 years ago, says Dana Denis-Smith at Obelisk Support.

  • 5 Gen X Characteristics That Can Boost Legal Leadership

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    As Generation X attorneys rise to fill top roles in law firms and corporations left by retiring baby boomers, they should embrace generational characteristics that will allow them to become better legal leaders, says Meredith Kahan at Whiteford Taylor.

  • ECJ Beneficial Owners Ruling Leaves Uncertainty In Its Wake

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    The European Court of Justice's recent ruling in the WM and Sovim cases, holding that making information on a register of beneficial owners publicly available interferes with the Charter of Fundamental Rights of the EU, has been criticized as a step backward in the fight against money laundering and financing of terrorism, and its impact is not yet clear, say Michael Marschall and Verena Krikler at Schoenherr.

  • What Slovak Labor Code Changes Will Mean For Employers

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    With newly effective amendments to the Slovak Labor Code strengthening employees’ rights in a number of ways, the default mindset of the employee being the weaker party may no longer be the right approach, says Katarina Pfeffer at Bird & Bird.

  • An ICO Reminder On Managing Subject Access Requests

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    Although the U.K. Information Commissioner's Office’s recent seven reprimands regarding mismanagement of data subject access requests are unusual, it is worth organizations considering what resources and training may be available to ensure these are properly managed in the future, says Ross McKenzie at Addleshaw Goddard.

  • Opinion

    Increasing Law Firm Polarization Will Degrade Rule Of Law

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    As evidenced in recent instances of law firms separating from attorneys who represented certain industries or espoused certain views, firms and the legal practice itself have grown troublingly polarized and intolerant of dissent, says Rebecca Roiphe at New York Law School.

  • The FTX Fallout So Far And What May Come Next

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    While the downfall of FTX is likely to cause substantial losses and lead to extensive litigation, it will hopefully precipitate a renewed focus on regulating the crypto market in a responsible way that gives more protection to consumers, says Dan Wyatt at RPC.

  • Hard Insurance Market Will Influence Legal Industry, Economy

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    As the cost of claims starts to outstrip the value of premiums, insurers are denying more claims and considering scaling back coverage, leading to an influx of legal work and potential holes in the market, says Bruce Hepburn at Mactavish.

  • Digital Nomads: Key Considerations For Global Businesses

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    As employers and employees embrace remote, location-independent work arrangements enabled by technology, they must be mindful of the employment law and tax consequences such arrangements may trigger, say Hannah Wilkins and Audrey Elliott at Eversheds Sutherland.

  • New License Eases Sanctioned Clients' Legal Fee Payments

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    The general license recently issued by the U.K. Office of Financial Sanctions Implementation permitting the payment of legal fees owed by a sanctioned company or individual will potentially reduce the agency's backlog and is welcome news for both lawyers and OFSI staff, say Zulfi Meerza and Syed Rahman at Rahman Ravelli.

  • Preparation Is Key To Businesses Minimizing Cyber Breaches

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    A recently published report by the U.K. Department for Digital, Culture, Media and Sport on organizational experiences of cybersecurity breaches highlights the importance of having breach response policies in place and being able to demonstrate that reasonable preventive and risk management steps were taken, says Lawson Caisley at White & Case.

  • UK Policyholders Can Expect Better COVID Claims Handling

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    The U.K. Financial Conduct Authority recently outlined some best practices for COVID-19 business interruption claims handling, which, along with recent High Court of Justice decisions, will likely lead to faster claims handling and clearer insurer communication, say Gurpreet Sanghera and Charlie Edwards at Simkins.

  • A Recovery Option For Lenders With Planes Stuck In Russia

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    For aircraft lessors considering insurance coverage litigation to recover for losses of equipment leased to Russian airlines, negotiating an assignment of rights may provide a faster pathway to recovery, say David Klein and Jose Lua-Valencia at Pillsbury.

  • Series

    My Favorite Law Prof: How I Learned To Argue Open-Mindedly

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    Queens College President Frank Wu reflects on how Yale Kamisar’s teaching and guidance at the University of Michigan Law School emphasized a capacity to engage with alternative worldviews and the importance of the ability to argue for both sides of a debate.

  • 4 Key Skills For An Effective Attorney Coaching Conversation

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    As BigLaw firms are increasingly offering internal coaching as one of many talent strategies to stem ongoing lawyer attrition, Stacey Schwartz at Katten discusses how coaches can help attorneys achieve their goals.

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