Insurance UK

  • May 24, 2024

    No Easy Fix For Pensions Marketing Rules, Minister Warns

    The government has said that there is no straightforward way to fix a quirk of privacy rules that discourages pension providers from sending emails to retirement savers.

  • May 24, 2024

    Ex-Aviva Staffer's Tribunal Outbursts Not A Bar To Fair Trial

    Aviva must face a former employee's discrimination claim even though her actions during hearings — including accusations of institutional racism in employment cases — is likely to prevent the trial being fair, a tribunal has ruled.

  • May 23, 2024

    Insurer Warns Of Surge In 'Crash For Cash' Fraud

    Insurer Allianz UK has urged motorists to watch out for dangerous scams, as it warned of a 6,250% rise in 2023 of "crashes" involving motorbikes and scooters.

  • May 23, 2024

    Legal Alliance Warns Of Growing FCA Burden On Insurers

    British regulators are pressuring the insurance industry in the name of consumer protection, but at the expense of business growth and security, a report by an alliance of global insurance-focused law firms said Thursday.

  • May 23, 2024

    Trader Denies Using 'Magic Money Tree' At £1.4B Fraud Trial

    Sanjay Shah, a former hedge fund owner who is accused of defrauding Denmark's tax authority out of £1.4 billion ($1.8 billion), denied using a "magic money tree" in his trading at a London court Thursday.

  • May 23, 2024

    Pension Plans Must Get Handle On Data Quality, TPR Says

    Retirement savings plans in the U.K. face increased regulatory scrutiny to ensure that Britain has the best possible standards on safeguarding the personal data of clients, the pensions watchdog has said.

  • May 23, 2024

    Tech Resilience Regime Ambiguous, European Banks Say

    A trade body representing banks in Europe warned on Thursday that new regulations requiring finance firms to prevent risks arising from cyberattack or systems failure are ambiguous and could create differing approaches to compliance.

  • May 23, 2024

    FCA Fines HSBC £6.2M For Mistreating Customers In Arrears

    The Financial Conduct Authority said Thursday that it has fined HSBC £6.2 million ($7.9 million) for inadequate treatment of customers in financial difficulty. 

  • May 30, 2024

    White & Case Hires 2 Latham Partners In Germany

    White & Case LLP has added two partners from Latham & Watkins LLP with more than three decades worth of experience between them in capital markets to its Frankfurt office.

  • May 22, 2024

    Insurers Lose Appeal Over $15M Hanjin Shipping Settlement

    Insurers should not be entitled to recover a portion of recoveries for uninsured losses, a London appeals court ruled Wednesday, in a dispute over a $15 million settlement following the collapse of Hanjin Shipping.

  • May 22, 2024

    Shipping Losses Hit All-Time Low Despite Growing Risks

    Losses of vessels exceeding 100 gross tons hit a historic low of 26 ships in 2023, down from 41 in 2022, according to a report published on Wednesday by Allianz SE.

  • May 22, 2024

    UK Gov't Calls Elections For July 4 Despite Poor Polls

    Prime Minister Rishi Sunak on Wednesday called an early general election to be held on July 4, advancing the electoral timetable even though his Conservative Party lags decisively behind the opposition Labour Party.

  • May 22, 2024

    City Group Warns Financial Fraud Still Major Problem

    A City trade body for financial institutions said Tuesday that payment fraud remains a major problem, with criminals stealing more than £1 billion ($1.27 billion) in 2023, shifting into growth areas such as mobile banking.

  • May 22, 2024

    EU Watchdog Seeks New Powers For Markets Regulation

    The European Union's financial markets watchdog called Tuesday for more regulatory powers and a simplified rulebook to improve the bloc's declining global competitiveness.

  • May 22, 2024

    Gov't Dismisses 'Arbitrary Deadline' On Pensions Redress

    The government on Wednesday shrugged off calls to draw up plans by the summer for a redress program for millions of women who have been underpaid under state pension plans.

  • May 21, 2024

    13 Clyde & Co. Lawyers Defect To Kennedys In Madrid

    Kennedys has hired 13 lawyers including a trio of insurance partners from Clyde & Co. LLP for its Madrid office, with the firm intent on strengthening its footing in one of Europe's key arenas.

  • May 21, 2024

    EU Gives Final Approval To World's First AI Rulebook

    European Union law negotiators gave the final green light on Tuesday to the first worldwide rules on artificial intelligence across most sectors including financial services, classifying its usage in bank lending risk assessments or insurance underwriting for EU citizens as high-risk.

  • May 21, 2024

    I Am An Honest Man, British Trader Tells £1.4B Fraud Trial

    Sanjay Shah, a former hedge fund owner who is accused of defrauding Denmark's tax authority out of £1.4 billion ($1.8 billion), told a London court on Tuesday that he is an "honest man" who traded using a legal "loophole."

  • May 21, 2024

    Finance Pros 'Too Afraid' To Blow Whistle On Fraud

    More than three-quarters of finance professionals in the U.K. stayed silent after spotting or suspecting internal fraud in their workplaces, a survey published on Tuesday showed, with nearly half saying they feared a backlash.

  • May 21, 2024

    UK Pension Reform Could Create 'Too Big To Fail' Providers

    The proposed government fix for the spiraling number of retirement savings pots could create pension giants that are too big to fail, an industry body warned on Tuesday.

  • May 21, 2024

    Ex-Insurance Exec's Wife Denies Knowledge Of Illegal Money

    The wife of a former executive at Gable Insurance has denied cashing in on unauthorized payments from her husband who, the Liechtenstein insurer alleges, siphoned off millions of pounds from the company to accounts he had links to.

  • May 21, 2024

    Investor Launches Property JV With USS Pension Scheme

    Real estate investor Assura PLC said on Tuesday it has agreed to a £250 million ($318 million) joint venture with the U.K.'s largest private pension scheme to support investment in National Health Service buildings for community care services.

  • May 21, 2024

    Freshfields Helps Warburg Pincus Buy Insurance Intermediary

    Private equity giant Warburg Pincus and Temasek of Singapore will buy Specialist Risk Group, a London-headquartered company that has brokered more than £1 billion ($1.3 billion) worth of insurance risk, the companies said on Tuesday.

  • May 20, 2024

    Lessors File Russia-Stranded Planes Cases After Major Ruling

    Two aircraft lessors have filed details of claims against insurers in London for a combined total of $62.1 million over planes stranded in Russia because of the invasion of Ukraine after a landmark ruling tossed attempts to move the cases and others to Russia.

  • May 20, 2024

    Watchdog Finds Pensions Minister Broke Rules On Expenses

    Paul Maynard, the pensions minister, broke parliamentary rules on expenses when he failed to properly manage the use of his taxpayer-funded office for political campaigning, a standards body has ruled.

Expert Analysis

  • How Courts Are Encouraging Mediation In England And Wales

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    As the judiciary braces for widespread pandemic-driven contractual disputes, courts in England and Wales are showing enthusiastic support for mediation, both when determining the implications of a party's refusal to mediate and when assessing whether normal restrictions on the use of mediation-derived information apply, says Leah Alpren-Waterman at Watson Farley.

  • Opinion

    EU Class Action Policy Guided By Wrong Measure Of Success

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    The political agreement obtained last month on the first European Union-wide rules on collective redress illustrates the fact that the main goal of the authorities is to increase the number of class action claims rather than focus on the application of standard civil liability principles, says Sylvie Gallage-Alwis at Signature Litigation.

  • An Attractive Regime For Governing Jurisdiction Post-Brexit

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    As indicated by the U.K.'s recent application to join the Lugano Convention, this is an "oven-ready" option for the U.K. for governing questions of jurisdiction and the enforcement of judgments with European Union countries after Brexit — but not without important differences from the current regime, say attorneys at Latham.

  • Reinsurance Implications Of COVID-19 Biz Interruption Laws

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    In light of legislative and public pressure in the U.S. and U.K. on insurers to cover business interruption losses related to COVID-19, reinsurers will face new questions regarding their obligation to cover claim payments, say Robin Dusek at Saul Ewing and Susie Wakefield at Shoosmiths.

  • UK Appellate Rulings Clarify Arbitral Choice Of Law

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    Two recent U.K. Court of Appeal decisions have changed the operation of the choice-of-law test for arbitration — a resolution as significant as changing the test itself because it affects the implied choices of the contracting parties, say attorneys at Squire Patton.

  • Post-Pandemic Litigation To Expect In England And Wales

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    Globally, we are already starting to see insolvency-related claims and a number of insurance, breach of ‎contract, employment and securities class actions across numerous sectors. These and other claims will likely increase for U.K. businesses, say Tracey Dovaston and Fiona Huntriss at Boies Schiller.

  • UK Lawyers Can Adapt Due Diligence To Screen New Clients

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    As COVID-19-related fraud gains pace, U.K.-based practitioners should help combat money laundering by using alternative methods to verify that new clients are who they say they are, says Christopher Convey, a barrister at 33 Chancery Lane and chair of the Bar Council's Money Laundering Working Group.

  • A UK Business View Of COVID-19's Economic Fallout

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    Covington attorneys Alex Leitch and Harry Denlegh-Maxwell provide a bird's-eye view of how U.K. businesses will navigate the legal and economic aftermath of the pandemic, including discussion of where litigation funding, class actions, insurance disputes and force majeure fit it.

  • Remote Depositions Bring Ethics Considerations For Lawyers

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    Utilizing virtual litigation technologies and participating in remote depositions require attorneys to beware of inadvertently violating their ethical obligations, including the principal duty to provide competent representation, say attorneys at Troutman Sanders.

  • Time For Presumptive Virtual Mediation In The UK

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    While the COVID-19 outbreak is a real-time test of the U.K. justice system’s adaptability and innovation, it is also an opportunity to deliver alternative dispute resolution through virtual technology — and there are two ways in which this could be achieved, says Suzanne Rab at Serle Court.

  • UK 'Property' Classification Boosts Confidence In Bitcoin

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    In AA v. Persons Unknown, the English High Court classified bitcoins as property that can be the subject of proprietary injunctions, indicating the slow but growing acceptance of virtual currencies within the U.K., say Steven De Lara and Colin Grech at Signature Litigation.

  • 3 EU And UK Data Protection Tips During COVID-19

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    Though EU and U.K. data protection laws should not impede the fight against COVID-19, companies must continue to protect individuals' data, and the challenges of managing a remote workforce and the desire for information about the virus’s impact have significant implications for that responsibility, say attorneys at Debevoise.

  • Novolex Case Brings Lessons On R&W Insurance

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    A New York state court dispute between Novolex and a few of its insurers concerning coverage under a representations and warranties policy for a $267 million loss offers a rare glimpse into how a court might interpret acquisition agreements and insurance policy provisions, say attorneys at Hunton.

  • How Proposed EU Class Action Directive Could Affect Insurers

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    Insurers should beware the explosive potential of the EU's proposed directive providing for cross-border class actions and third-party funding for such actions, although it also bears strict requirements that will limit the number of cases, say Emmanuèle Lutfalla and Simon Fitzpatrick at Signature Litigation.

  • COVID-19 Insurance Considerations For UK Cos.

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    Though a new U.K. regulation recently made it easier for businesses to claim losses related to COVID-19, potential points of contention when seeking insurance coverage include whether the government ordered the business to close and whether an outbreak occurred at the premises, say attorneys at Covington.

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