Insurance UK

  • April 30, 2024

    UK Pension Deal Market Sees Surge In Smaller Transactions

    The number of pension deals worth less than £100 million ($125 million) rose 10% in 2023, according to data released on Tuesday by Aon PLC, as doubts grow over the need for a state-backed consolidator of retirement savings plans.

  • April 30, 2024

    Insured Disaster Losses Already At $17B In 2024, Broker Says

    Losses from natural disasters covered by insurance reached $17 billion in the first three months of 2024, reinsurance broker Aon has reported, with devastating storms in the U.S. and Europe driving up the costs for the sector.

  • April 29, 2024

    Butlins Sues Insurers For £60M After Flood Damage

    A major holiday resort is suing a number of its insurers, including Aviva and QBE, for failing to pay out on losses sustained when a vacation park was flooded, causing the closure of many of its lodges.

  • April 29, 2024

    UK Car Insurance Cost Up 33% Over Year, ABI Says

    The average cost of car insurance was around 33% higher in the first three months of 2024 than the same period a year ago, figures published by the Association of British Insurers on Monday show.

  • April 29, 2024

    Trade Bodies Want Gov't Action Over 'Damaging' FCA Rules

    A group of 16 financial services trade bodies has called on HM Treasury to intervene over recent Financial Conduct Authority proposals to name companies under investigation, saying the plans could have "damaging consequences" for the U.K.

  • April 29, 2024

    Russia Sanctions Creating 'Shadow Fleet,' Insurers Warn

    The increasing compliance burdens that come from a price cap on Russian oil has led to the exodus of 800 tankers from the Western insurance market, a trade association has warned.

  • April 29, 2024

    FCA To Get Extra Data To Police Consumer Credit Lending

    The City watchdog set out on Monday final rules that will require consumer credit lenders to give it more detailed data, enabling it to act against problem companies.

  • April 26, 2024

    UK Gov't Rejects Lawmakers' Criticism Of Edinburgh Reforms

    The U.K. government has rejected criticisms from the Treasury Committee that the post-Brexit financial services reform program is moving too slowly, claiming the changes are on track in a letter published Friday.

  • April 26, 2024

    UK Workers Back Gov't 'Pot For Life' Pension Proposals

    Proposals for single pension pots for life have cross-generational support from U.K. workers, according to the results of a survey by a cross-party policy think tank that were published Friday.

  • May 03, 2024

    Ex-Mishcon Head Of Risk Joins Litigation Boutique

    Stokoe Partnership Solicitors has appointed Jarret Brown as its new head of compliance in a role he hopes is "going to be a little less frenetic" at a place with less "infrastructure to shift."

  • April 26, 2024

    Insurer Signs First Settlement Over Russia-Stranded Planes

    An aircraft lessor and an insurer have settled their fight over payouts for planes stranded in Russia after its invasion of Ukraine, the first agreement out of dozens of battles worth billions of dollars involving major insurers.

  • April 26, 2024

    BoE To Include Funded Re In Life Insurance Stress Test

    The Bank of England has said it will consider the risks posed by offshore reinsurance contracts when it carries out a stress test on life insurers in 2025.

  • April 26, 2024

    FCA Defends Naming Firms Under Investigation

    The Financial Conduct Authority on Friday defended its proposed naming of companies under investigation in a letter to a House of Lords committee.

  • April 26, 2024

    UK Litigation Roundup: Here's What You Missed In London

    This past week in London has seen budget airline Ryanair file a claim against NATS PLC after the air traffic controller's system collapsed, Mastercard and Visa Europe face group claims from Christian Dior and dozens of other beauty retailers, an intellectual property clash between the publisher of The Sun and ITV, and ISC Europe sue a former director for alleged money laundering. Here, Law360 looks at these and other new claims in the U.K.

  • April 26, 2024

    Law Firm Racine Advises On €26M Sale Of Healthcare Unit

    Wilmington PLC said Friday it has offloaded its healthcare business APM for €26 million ($28 million) to Philia Medical Editions SAS, which was advised by French law firm Racine.

  • April 26, 2024

    PI Lawyer Rebuked Over Rejected Settlement Offers

    A personal injury lawyer has been rebuked after he misled opposing solicitors into thinking that his client had rejected two offers to settle a legal claim, the Solicitors Regulation Authority said Friday.

  • April 25, 2024

    Higher Greek Limit For Fire Claim No Reason To Stay UK Case

    A London court refused Thursday to let the owner of a boat that sank in a Corfu marina pause English proceedings over liability for the accident in favor of pursuing the matter in Greece, where the payout cap would be higher.

  • April 25, 2024

    UN Insurance Climate Group Relaunched After Backlash

    An alliance of global insurers formed to accelerate the sector's move to a carbon-neutral economy was replaced on Thursday by a group encompassing less stringent requirements, after attempts to establish shared climate efforts prompted legal and regulatory backlash last year.

  • May 02, 2024

    RPC Hires 4-Lawyer Risks Team From Mayer Brown

    Reynolds Porter Chamberlain LLP has boosted its professional liability disputes and regulatory offering with the hire of four specialists from Mayer Brown LLP to its office in London.

  • April 25, 2024

    Firms Urge Delays To 'Unclear' FCA Greenwashing Guidance

    Financial companies are urging the City watchdog to slow its anti-greenwashing rule that comes in force in May as legal experts warn that it has failed to clarify all its expectations in final guidance, putting businesses that make the wrong call at risk of enforcement action.

  • April 25, 2024

    Watchdog Urges Caution On New Types Of Pension Schemes

    The Pensions Regulator called on Thursday for a pause in the development of new types of retirement savings plans as it weighs whether they offer members sufficient levels of protection.

  • April 25, 2024

    UK Insurers To Curb Premium Finance 'Tax On Poor'

    Insurers said Thursday that they will take steps to reduce the additional expense incurred on policyholders which rely on finance arrangements to pay annual premiums.

  • April 24, 2024

    Klarna Trims Down Basque Bank's European Logo TM

    Buy-now, pay-later giant Klarna has won its fight to restrict trademark registration for a Spanish bank's logo, blocking protection in a myriad of categories ranging from laundry detergent to musical instruments.

  • April 24, 2024

    Regulator Says Half Of Retirement Plans Ready For Buyout

    Half of the 5,000-plus defined benefit pension schemes in Britain are expected to have exceeded their estimated buyout funding levels, the Pensions Regulator said Wednesday, giving trustees and employers a chance to reassess their long-term objectives.

  • April 24, 2024

    Network Rail Rejected Pension Expert Due To Age Bias

    An employment tribunal has ruled that Network Rail discriminated against an applicant to the pensions team because he was in his mid-50s, saying that the manager processing submissions barely glanced at his curriculum vitae.

Expert Analysis

  • 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.

  • UK Group Data Breach Claims Pose Big Financial Risks

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    Recent English court decisions appear to make it easier for data breach victims to bring collective actions, and consequently companies may find they are liable for huge sums in addition to fines under the General Data Protection Regulation, say attorneys at Morrison & Foerster.

  • A Crucial Chance For UK Supreme Court To Clarify Arbitrator Bias

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    In Halliburton v. Chubb, the U.K. Supreme Court has an opportunity to tackle uncomfortable questions and support confidence in London's arbitration sector by policing effectively against bias and impartiality when arbitrators are involved in multiple tribunals, says Rosie Wild at Cooke Young.

  • Rebuttal

    Legal Industry Should Pursue AI Prediction Progress

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    As part of the debate prompted by my recent Law360 guest article on legal prediction using artificial intelligence, I would like to unpack four issues and suggest that attorneys and technologists continue to tackle the problems presently within reach, says Joseph Avery at Claudius Legal Intelligence.

  • Rebuttal

    AI Can't Accurately Predict Case Length And Cost — Yet

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    A recent Law360 guest article argued that artificial intelligence can precisely estimate the length and cost of a new case, but several limitations will likely delay truly accurate predictions for years to come, says Andrew Russell at Shaw Keller.

  • What To Expect During The Brexit Transition Period

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    While all formal ratification procedures for the U.K.'s departure from the European Union have been completed, the transitional period will bring an enormous range of trade, customs and regulatory issues, say attorneys at Mayer Brown.

  • Opinion

    Legal Prediction Is Demanding But Not Impossible

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    The New Jersey Supreme Court’s recent decision in Balducci v. Cige incorrectly concluded that predicting the length and cost of a case is nearly impossible, and overlooked artificial intelligence's ability to do so, says Joseph Avery with Claudius Legal Intelligence.

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