Try our Advanced Search for more refined results
Insurance UK
-
Featured
Plan To Recast £2.5T Pensions Sector Raises New Risks
The government unveiled a set of reforms Tuesday designed to tap the U.K.'s £2.5 trillion ($3.2 trillion) pension sector for investment in new technology startups — but experts say the shakeup could lead to an uncertain future for millions of workers saving for retirement.
-
May 09, 2024
AmTrust Loses Cap Costs Fight In Lloyd's Syndicate Deal
A London court ruled Thursday that two reinsurers are entitled to cap at £1 million ($1.25 million) a range of expenses they are required to pay after they acquired AmTrust's economic interests in a Lloyd's syndicate.
-
May 09, 2024
Insurer Beats Engineering Co.'s New Bid For $10M Payout
England's Court of Appeal said Thursday that an insurer should not be on the hook for $10.4 million (£8.3 million) after a ship crashed into an oil platform, throwing out a legal challenge by a French engineering company.
-
May 09, 2024
Pension Watchdog In Talks With Gov't Over New Remit
The U.K.'s retirement savings watchdog said it is in talks with the government on formally extending its remit to encompass pension scheme administrators.
-
May 09, 2024
Aviva Takes On Construction Co. Pension Scheme In Full
Insurance giant Aviva has secured the benefits of all uninsured final salary members of a pension plan sponsored by a British construction group in a deal guided by CMS.
-
May 09, 2024
Watchdog Preps Rules For Banks To Repay High-Value Fraud
The payments watchdog has set out plans to extend its fraud reimbursement scheme to high-value bank transfers through the CHAPS system, reducing the risk that fraudsters will move there to avoid detection.
-
May 09, 2024
Home Insurance Premiums Rise But Below Peaks, Says ABI
Home insurance premiums rose 3% in the first quarter of 2024 because of harsh weather conditions, according to data published on Thursday by the Association of British Insurers.
-
May 09, 2024
Fall In Inflation To Slow Insurance Price Hikes, EY Says
British insurers will not make as much money from selling policies in the next three years because of an expected fall in inflation, Ernst & Young LLP said on Thursday, even though demand for car and home cover has risen.
-
May 09, 2024
BBVA €12B Offer For TSB Owner Sabadell Turns Hostile
Spanish banking giant BBVA launched a hostile takeover of Banco de Sabadell on Thursday, approaching shareholders directly with a €12 billion ($12.8 billion) all-share deal after being rebuffed by the rival bank's board.
-
May 08, 2024
Marsh Can't Duck Chemical Co.'s Negligence Claim
A London court on Wednesday refused Marsh's bid to strike out a global chemicals group's claim alleging the insurance broker negligently arranged faulty motor insurance cover.
-
May 08, 2024
FCA Mulls 'Enforcement Watch' As Naming Alternative
The Financial Conduct Authority's top executives on Wednesday vigorously defended its plans to name firms under investigation, but saw value in a potential alternative move to publish an "enforcement watch" newsletter giving an overview.
-
May 08, 2024
HSF, Ashurst-Led Ardonagh Buys Insurer For $1.5B
U.K. insurance broker Ardonagh Group Ltd. said on Wednesday it has agreed to acquire Australia-based PSC Insurance Group Ltd. in a transaction worth $2.25 billion Australian dollars ($1.48 billion), to help it expand into new markets.
-
May 08, 2024
Insurer Claims 400 Pension Deals Penned In 12 Years
Insurer Just Group said Wednesday it has completed 400 pension transfer deals since it launched in 2012, adding that the year ahead is poised to break more records in the retirement savings de-risking market.
-
May 08, 2024
'Inertia' Fears Over FCA's Pension Anti-Scam Safeguards
The anti-scam safeguards proposed by the Financial Conduct Authority on new pension online portals could inadvertently hinder workers from taking action to improve their retirement savings, an insurer warned Wednesday.
-
May 08, 2024
Investment Cos. Ask Gov't To Settle Disclosure Uncertainties
A trade body has asked the U.K. Treasury to decide now whether to remove investment companies from its planned post-Brexit regime covering disclosures firms must make before selling certain products to investors to resolve a current misleading cost figure.
-
May 08, 2024
South Africa Immune To Sunken WWII Silver Salvage Claim
Britain's highest court ruled Wednesday that South Africa has sovereign immunity against a salvage repayment claim from a company that recovered around $43 million worth of silver bullion from a cargo ship sunk during the Second World War.
-
May 07, 2024
Banks, Regulators Holding Back SMEs, Lawmakers Say
A parliamentary committee urged the financial watchdogs on Wednesday to review their approach to helping small and midsized businesses gain access to money, arguing that banks are making it "needlessly tougher" to take out loans and unfairly closing accounts of legitimate companies.
-
May 07, 2024
Ombudsman Wants Pressure On Gov't On Female Pensions
The public sector ombudsman said Tuesday that it took the unusual step of issuing its report on systemic failures on women's state pension to Parliament because it was concerned that more retirees would die before the government acted on compensation.
-
May 07, 2024
Pension Schemes Weigh Halting Employer Contributions
Sustained improvements in funding levels for private sector pensions in the U.K. means that many defined benefit schemes are considering stopping contributions from sponsors to avoid overfunding, PwC has said.
-
May 07, 2024
EU Watchdog Mulls Opening Funds To Riskier Investments
The European Union's markets watchdog called Tuesday for market views on whether to expand the range of assets in which the most widely used type of investment fund can legally invest, to include crypto-assets as well as risky shares and bonds.
-
May 07, 2024
FCA Bans Investment Firm's Ex-CEO For Misleading Clients
The Financial Conduct Authority has fined the former chief executive of a London-based investment firm for misleading clients about cash held by the group and handed him a ban, according to a statement published Tuesday.
-
May 07, 2024
PwC, EY Hit With Fines Over LC&F Audit Failures
The Financial Reporting Council said Tuesday that it has handed out fines totaling approximately £10 million ($12.5 million) to PwC, EY and a third accounting firm for failures during audits they carried out on London Capital & Finance before the investment company's high-profile collapse.
-
May 03, 2024
SRA Warns Law Firms On Improper Practices In Mass Claims
The Solicitors Regulation Authority voiced concerns on Friday about law firms and legal professionals that handle mass claims involving financial services or products, saying that some are running up costs before they have even been instructed to act.
-
May 03, 2024
UK Litigation Roundup: Here's What You Missed In London
The past week in London has seen rapper Ivorian Doll hit with a copyright claim, private members club Aspinalls file a claim against a Saudi sheikh, and Motorola Solutions file a claim against the British government on the heels of its dispute over losing a £400 million ($502 million) government contract. Here, Law360 looks at these and other new claims in the U.K.
-
May 03, 2024
EU Regulators To Report AML Suspects To Central Database
The European Union's banking watchdog has said that national regulators can start reporting information on named individuals to the bloc's centralized anti-money laundering database from May, in a step further strengthening the fight against financial crime.
-
May 03, 2024
Pensions Watchdog Targets More Scheme Consolidation
The Pensions Regulator detailed on Friday 22 "priority outcomes" that will drive its work for the next three years, with policies reflecting its vision of "fewer, larger schemes" in the market, which a trade body described as ambitious.
Editor's Picks
-
Litigation Funding Demand Rises As Pandemic Suits Percolate
More corporate clients than ever have pursued third-party litigation funding in England this year, as the COVID-19 pandemic has forced businesses to think more conservatively and try to prioritize the cash on their balance sheets.
-
Reforms Abroad For Litigation Funders Raise Questions In UK
Australia's recent decision to introduce a licensing regime for its litigation funders has stirred up attention across the industry, but experts say it appears unlikely that the U.K. will move beyond its current combination of light-touch regulation and court oversight.
-
Coronavirus: The Latest EU Court Closures And Restrictions
UPDATED March 22, 2021, 10:35 AM GMT | As courts across the region take measures to prevent the spread of the novel coronavirus, some are restricting access and altering their procedures. Here is a roundup of changes.
Expert Analysis
-
The Art Of Corporate Apologies: Crafting An Effective Strategy
Public relations challenges often stop companies from apologizing amid alleged wrongdoing, but a recent U.K. government consultation seeks to make this easier, highlighting the importance of corporate apologies and measures to help companies balance the benefits against the potential legal ramifications, says Dina Hudson at Byfield Consultancy.
-
Dissecting Recent Developments Against The Misuse Of NDAs
The U.K. government's recent plans to nullify nondisclosure agreements that prevent victims from reporting crimes should remind lawyers to proactively consider the necessity of such agreements, especially in light of the Solicitors Regulation Authority's warning notice on drafting improper NDAs, say Clare Davis and Macaela Joyes at RPC.
-
What To Know About The Russia-Stranded Plane Ruling
The High Court's recent decision in Zephyrus Capital Aviation v. Fidelis Underwriting, rejecting reinsurers' U.K. jurisdiction challenges in claims over stranded planes in Russia, has broad implications for cross-border litigation involving exclusive jurisdiction clauses, says Samantha Zaozirny at Browne Jacobson.
-
3 Notable Pensions Reforms In Spring Budget
The U.K. government’s spring budget introduced reforms to improve pension outcomes through the value for money framework and the lifetime provider model, as well as to encourage investments in Britain — three interlinked areas that could pressure trustees and providers to rethink how they approach investments, say Liz Ramsaran and Marcus Fink at DWF.
-
UK Arbitration Ruling Offers Tips On Quelling Bias Concerns
An English court's recent decision in H1 v. W to remove an arbitrator because of impartiality concerns offers several lessons on mitigating bias, including striking a balance between arbitration experience and knowledge of a particular industry, and highlights the importance of careful arbitrator appointment, says Paul-Raphael Shehadeh at Duane Morris.
-
Bias Ruling Offers Guidance On Disqualifying Arbitrators
An English court's recent decision in H1 v. W, removing an arbitrator due to bias concerns, reaffirms practical considerations when assessing an arbitrator's impartiality, and highlights how ill-chosen language by an arbitrator can clear the high bar for disqualification, say Andrew Connelly and Ian Meredith at K&L Gates.
-
Insurance Policy Takeaways From UK Lockdown Loss Ruling
An English court's recent decision in Unipolsai v. Covea, determining that insurers' losses from COVID-19 lockdowns were covered by reinsurance, highlights key issues on insurance policy wordings, including how to define a "catastrophe" in the context of the pandemic, says Daniel Healy at Brown Rudnick.
-
What COVID Payout Ruling Means For Lockdown Loss Claims
While the High Court's recent COVID-19 payout decision in Gatwick v. Liberty Mutual, holding that pandemic-related regulations trigger prevention of access clauses, will likely lead to insurers accepting more business interruption claims, there are still evidentiary challenges and issues regarding policy limits and furlough, say Josianne El Antoury and Greg Lascelles at Covington.
-
Spartan Arbitration Tactics Against Well-Funded Opponents
Like the ancient Spartans who held off a numerically superior Persian army at the Battle of Thermopylae, trial attorneys and clients faced with arbitration against an opponent with a bigger war chest can take a strategic approach to create a pass to victory, say Kostas Katsiris and Benjamin Argyle at Venable.
-
Top Court Hire Car Ruling Affects 3rd-Party Negligence Cases
The U.K. Supreme Court's recent decision in Armstead v. Royal & Sun Alliance, finding that an insurer was responsible for lost car rental income after an accident, has significant implications for arguing economic loss and determining burden of proof in third-party negligence cases that trigger contractual liabilities, say lawyers at Macfarlanes.
-
Unpacking The Building Safety Act's Industry Overhaul
Recent updates to the Building Safety Act introduce a new principal designer role and longer limitation periods for defects claims, ushering in new compliance challenges for construction industry stakeholders to navigate, as well as a need to affirm that their insurance arrangements provide adequate protection, say Zoe Eastell and Zack Gould-Wilson at RPC.
-
A Rare Look At Judicial Interpretation Of LEG Exclusions
A Florida federal court’s order last month in Archer Western-De Moya v. Ace American Insurance and an earlier decision from a D.C. federal court offer insight into how courts may interpret defects exclusion clauses developed by the London Engineering Group — filling a void in case law in the area, says Jonathan Bruce at Holman Fenwick.
-
Ruling In FCA Case Offers Tips On Flexible Work Requests
In Wilson v. Financial Conduct Authority, the Employment Tribunal recently found that the regulator's rejection of a remote work request was justified, highlighting for employers factors that affect flexible work request outcomes, while emphasizing that individual inquiries should be considered on the specific facts, say Frances Rollin, Ella Tunnell and Kerry Garcia at Stevens & Bolton.
-
Breaking Down The New UK Pension Funding Regs
Recently published U.K. pension regulations, proposing major changes to funding and investing in defined benefit pension schemes, raise implementation considerations for trustees, including the importance of the employer covenant, say Charles Magoffin and Elizabeth Bullock at Freshfields.
-
Decoding UK Case Law On Anti-Suit Injunctions
The English High Court's forthcoming decision on an anti-suit injunction filed in Augusta Energy v. Top Oil last month will provide useful guidance on application grounds for practitioners, but, pending that ruling, other recent decisions offer key considerations when making or resisting claims when there is an exclusive jurisdiction clause in the contract, says Abigail Healey at Quillon Law.