Insurance UK

FCA's Tokenization Plan May Heighten Financial Crime Risk

The Financial Conduct Authority's planned tokenization regime to help asset managers trade investment funds as digital assets could expose investors to financial criminals lurking in crypto-markets, with the regulator's "targeted support" rules multiplying the risk, lawyers have warned.

Surface of polluted water reflecting sunlight with a leaf.

'Forever Chemicals' Pollution Claims Seeping Into UK Courts

Litigation over widely used "forever chemicals" that has led to big payouts in the U.S. could become a source of significant exposure for insurers and their policyholders in the U.K. following a recent settlement.

View of the wheels of a row of cars lined up.

Senior Managers At Risk In FCA's £8B Motor Finance Plan

The Financial Conduct Authority's proposed £8.2 billion ($11 billion) car finance redress scheme would force senior managers of lenders to put their heads on the block by attesting that they have adequate systems to identify customers for compensation, with wrong decisions risking enforcement action by the regulator, lawyers have warned.

FCA's Crypto Rules Risk Abuse Without Tailored Safeguards

The proposed U.K. crypto-asset regime risks abuse because it tries to clamp traditional finance rules on to a digital asset class, leaving gaps which expose unwary investors to criminals unless new safeguards are added, legal experts have warned.

October 27, 2025
Finance Sector Asks BoE To Clarify Settlement Extensions

A financial trade body warned the Bank of England on Monday to clarify its roadmap for extending settlement times on high-value CHAPS payments and to improve technical support if the system is to work.
October 27, 2025
UK Civil Service Pension Plan Marked By 'Successive Failures'

The Cabinet Office has not effectively managed the outsourced administration of the Civil Service Pension Plan, a parliamentary committee has found, ruling that the government has "successively" failed in its oversight of the scheme.
October 27, 2025
Slaughter & May-Led L&G Seals £4.6B Ford Pension Buy-Ins

Legal & General said Monday it has completed a £4.6 billion ($6.1 billion) buy-in of two pension plans for motor manufacturer Ford, taking on liability for the retirement benefits of more than 35,000 members.
October 27, 2025
Asset Managers Oppose EU Centralized Supervision

A trade body warned Monday that proposals by the European Union to centralize regulation of asset managers would prove ineffective or add complexity without improving the current passporting regime.
October 27, 2025
Insurance Staffer Loses Reconsideration Bid Over Resignation

An employment tribunal has rejected a bid by an executive assistant to have a ruling that found an insurance broker did not force her to resign reconsidered because there is "no reasonable prospect" of the judgment being varied or revoked.
October 24, 2025
MPs Warn Gov't Against Cutting £20K Cash ISA Limit

Government plans to place limits on cash individual savings accounts are unlikely to push savers to put their money in stocks, a cross-party group of MPs warned on Saturday, as Britain seeks to boost equity investment to fuel corporate activity.
October 24, 2025
Fraud Cost UK Victims £629M In 1st Half Of 2025, Study Finds

U.K. fraudsters stole £629.3 million ($836.3 million) in the first half of 2025, marking a 3% rise from the same period in 2024, according to a U.K. financial trade body's midyear fraud report, published Friday.
October 24, 2025
UK Regulators Launch Unit To Help Finance Firms Scale Up

The British government on Friday unveiled a new unit to help high-potential financial firms navigate regulatory challenges and "cut through the noise," steered by the country's top regulators.
October 24, 2025
Evergreen Marine Sues Lloyd's In $725K Cargo Payment Row

The owners and operators of the container ship Ever Forward, which ran aground after leaving Baltimore in 2022, have sued Lloyd's of London for approximately $725,000.
October 24, 2025
UK Litigation Roundup: Here's What You Missed In London

This past week in London has seen the Financial Conduct Authority launch legal action against a Chinese cryptocurrency exchange, The Londoner magazine face a defamation claim from an entrepreneur accused of "scamming" Knightsbridge landlords, and Gucci sued by its cosmetics supplier as L'Oréal announces plans to buy the Italian fashion house's beauty brand. Here, Law360 looks at these and other new claims in the U.K.
October 24, 2025
Bank Of England General Counsel Exits After 10 Years

The Bank of England has lost its lead lawyer, a former partner at Clifford Chance LLP, after she spent a decade managing and mitigating its legal risks.
October 24, 2025
Rodent Damage Motor Claims Rise By 28%, Aviva Says

Motor insurance claims in the U.K. for damage caused by rodents surged 28% between the 2023 and 2024 calendar years, according to new data from Aviva.
October 23, 2025
UK Local Government Pension Scheme Valued At £402B

The value of Britain's local government pension plans increased by 2.7% to £402.3 billion ($536 billion) over the year to March, government statistics show.
October 23, 2025
UK Government Refuses To Commit To Pension Tax Lock

The British government has refused to commit to a lock on pension tax policy, despite renewed consumer uncertainty in the run-up to the budget.
October 23, 2025
Companies Hit With 1.85M Complaints In 6 Months, FCA Says

Complaints to financial services companies rose in the first half of 2025, as the Financial Conduct Authority reported there were 1.85 million cases, up almost 4% from the 1.78 million logged in the second half of 2024.
October 23, 2025
FCA Chief Warns Of UK Cyber-Insurance Protection Gap

The head of the Financial Conduct Authority has warned that U.K. businesses are woefully under-insured against the risk of a massive cyberattack.
October 23, 2025
Pensions Provider TPT Launches £600M Global Equity Fund

The investment management arm of pensions provider TPT Retirement Solutions has launched a £600 million ($800 million) global equity fund for U.K. retirement savings plans.
October 22, 2025
French Insurer CNP To Take 40% Stake In Brazil's Embracon

French multinational insurance company CNP Assurances SA said Wednesday it has agreed to ultimately acquire a 40% stake in Brazilian financing company Embracon by first merging their alternate credit businesses to create "a major player in this fast-growing segment."
October 22, 2025
FCA Secures £442M For Consumers, Urges More Co-operation

The Financial Conduct Authority has said that it secured more than £442 million ($590 million) for investors and consumers through redress arrangements, settlements and civil proceedings in the last financial year, and pressed home the benefits of companies taking responsibility for their mistakes.
October 22, 2025
£1.9B Jaguar Cyberattack UK's 'Most Economically Damaging'

The cyberattack that hit car giant Jaguar Land Rover in August triggered a ripple effect that cost the U.K. an estimated £1.9 billion ($2.5 billion) due to disrupted supply chains, experts said Wednesday, making it the "most economically damaging" digital incident to ever affect Britain.
October 22, 2025
Gov't Greenlights New 'Collective' Pension Scheme Rules

The government said Wednesday it will push forward with rules to allow more businesses to join new collective pension plans, which could boost the retirement savings of millions of workers.
October 22, 2025
PE Companies Finalize Deal For UK Insurance Broker JMG

Private equity companies GTCR and Synova have confirmed their acquisition of JMG Group five months after announcing their intention to buy the British insurance broker.
October 22, 2025
State Pension To Rise By 4.8% In 2026 Under Triple Lock

Pensioners are in line for an inflation-busting rise in state pension benefits next year, experts said Wednesday, a move that would pile additional pressure on the U.K. government's pledge to maintain the triple lock.
October 21, 2025
Vaccine Skeptic Wins Sick Pay Battle With Insurance Biz

An employment tribunal rejected a health insurance worker's claims that his skepticism about the COVID-19 jab caused bosses to discriminate against him and treat him unfairly, but agreed that the company forced him to quit by cutting off his sick pay for chronic anxiety.
October 21, 2025
Equitas Loses £3.8M Dispute Over RSA Asbestos Settlements

A High Court judge ruled Tuesday that London-based reinsurer Equitas Insurance Ltd. wrongly refused to pay out over asbestos-related claims to three RSA Insurance Group companies in a £3.8 million ($5.1 million) row.

Editor's Picks

Top Court Ruling In 'Whiplash' Test Case Could Hit Premiums

Personal injury claimants could get higher payouts from their motor insurance as a result of a test case ruling at Britain's highest court on Tuesday, although analysts warn that insurers could respond with higher premiums to cover the cost of bigger claims.
FCA Begins Crackdown On Poor-Value Insurance Products

The move by the Financial Conduct Authority to restrict sales of guaranteed asset protection insurance is a sign of a faster approach to market intervention, and could lead the regulator to scrutinize other underperforming products, consultants say.
Post-Election UK Pension Changes Could Be In The Fine Print

Regulatory lawyers are not expecting radical overhaul in pension policies if the government changes after this year's general election. But lawyers say that signals in the opposition Labour Party's policy language could hint at possible shifts in investment priorities for retirement savings.

Expert Analysis

What EBA Report Means For Non-EU Financial Firms

In a recent report concerning unregulated third country banks, the European Banking Authority decided not to extend a bank-to-bank exemption under the Capital Requirements Directive, raising a number of compliance issues for cross-border services, say lawyers at A&O Shearman.
What To Note From FCA, Gov't Financial Growth Proposals

Recent Financial Conduct Authority and government proposals for financial services reform are positive developments for firms, signaling a drive to push forward growth and a willingness to be flexible in areas of regulation that the industry has long raised as barriers, say lawyers at Simmons & Simmons.
FCA Misconduct Guide Will Expand Firms' Duty To Investigate

The Financial Conduct Authority's recent proposals on workplace nonfinancial misconduct will place a greater onus on compliance and investigations teams, clarifying that the question to ascertain is whether the behavior is justifiable and proportionate, say lawyers at Ashurst.
Mansion House Speech Heralds New Financial Regulatory Era

The chancellor of the exchequer's recent Mansion House speech introduced a sweeping commitment to modernize regulation, which will require U.K. retail banks and building societies to revisit core assumptions, and allow lawyers to play a key role in shaping the new rules, say lawyers at Addleshaw Goddard.
Key Points From EU Proposals To Ease Securitization Rules

The European Commission’s recently proposed securitization framework amendments aim to relax existing rules, such as by reducing due diligence requirements and removing the need for investors to conduct certain prescribed compliance verifications by sponsors or original lenders, say lawyers at McDermott.
What To Expect As FCA Preps To Launch AI Testing Service

The Financial Conduct Authority’s forthcoming artificial intelligence live testing service will provide participants with access to appropriate regulatory expertise, but to gauge the tool’s potential utility, it is important to understand how it fits in with what the regulator is already doing, says Omar Salem at Fox Williams.
EU Banking Watchdog Regulations Herald New AML Era

The European Banking Authority’s forthcoming anti-money laundering package will set a framework for compliance across the European Union by redefining the rules of engagement between financial institutions and supervisors, setting a new standard for transparency and accountability, say lawyers at A&O Shearman.
What To Expect As UK, US Gov'ts Develop Stablecoin Policies

While the U.K. and U.S. governments’ policies both suggest that fiat-backed stablecoins can improve efficiency and safety in payments systems, a perception that crypto-assets remain high risk means consumers are unlikely to use them in significant volume anytime soon, say lawyers at Cadwalader.
What Insurers Can Do To Prepare For PRA 'Solvent Exit' Rules

With less than a year until the Prudential Regulation Authority's new solvent exit rules for insurers come into force, it is critical that firms prepare to meet the imminent deadline by outlining an execution plan and establishing clear governance arrangements, say lawyers at Holman Fenwick.
How Regulators Want Online Platforms To Fight Finance Fraud

Recent statements from the International Organization of Securities Commissions and the European Securities and Markets Authority make clear that online platform providers are expected to adopt proactive measures to prevent the promotion of unauthorized financial services and related misconduct, say lawyers at Taylor Wessing.
FCA Notes Industry Criticism But Keeps Transparency Focus

The Financial Conduct Authority’s recently updated enforcement guide finally gives up the "naming and shaming" public interest test, demonstrating that the regulator has recognized the industry's serious concerns while maintaining less contentious aspects of its proposals to improve transparency in investigations, say lawyers at Irwin Mitchell.
Court Backing Of FCA Pensions Ruling Sends Key Message

The Upper Tribunal’s recent upholding of the Financial Conduct Authority's decisions against CFP Management directors serves as a judicial endorsement of the regulator’s approach to defined benefit transfers, underscoring that where the advisory model is fundamentally flawed, the consequences for those in control can be severe, say lawyers at RPC.
Pension Schemes Bill's Most Notable, Controversial Measures

The long-awaited Pension Schemes Bill recently introduced to Parliament creates a framework for harnessing money saved in U.K. workplace pension funds to grow the country’s economy, but provisions relating to local government pension scheme investment, and scale and asset allocation, are controversial, says Claire Dimmock at Squire Patton.
Decoding Arbitral Disputes: Prestige's Jurisprudential Legacy

The U.K. Supreme Court's recent denial of appeal ended Spain's decades-long quest to enforce an €855 million arbitral judgment against a London insurer, throwing into stark relief the increasingly complex relationship between arbitral sovereignty, foreign state immunity and the shifting terrain of post-Brexit private international law, says Josep Galvez at 4-5 Gray's Inn.
UK Securities Tax Reform Will Be Welcomed By Investors

The proposed reforms resulting from HM Revenue & Customs' recent consultation on modernizing stamp taxes on shares, suggesting a single digital tax on securities to replace stamp duty and stamp duty reserve tax, are expected to reduce complexity for investors transacting in U.K. securities, say lawyers at Ropes & Gray.