Insurance UK

  • 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.

  • April 24, 2024

    Osborne Clarke Guides Canada Life's £46M Lexmark Deal

    Insurer Canada Life has agreed to a £46 million ($57 million) buy-in with the pension scheme of printing business Lexmark Holdings Inc. in a transaction guided by Osborne Clarke LLP.

  • April 24, 2024

    PRA Asks Banks To Review Private Equity Exposure

    The Prudential Regulation Authority asked banks to review and assess their current practices to ensure they align with the regulator's expectations for effective risk management concerning private equity-linked credit and counterparty exposures.

  • April 24, 2024

    AXA, Zurich Deny Liability In £26M Bakery Fire Claim

    A group of six insurers has denied that it unlawfully refused to pay out at least £26 million ($32 million) to cover damage and losses caused by a blaze at a bakery, saying the food business did not comply sufficiently with fire procedures to justify a payout.

  • April 23, 2024

    Tax Experts Want Cut To Healthcare Insurance Levy

    Tax experts on Tuesday urged the U.K. government to partially suspend a levy on healthcare insurance products, after it revealed record premium tax revenue of £8.1 billion ($10.1 billion) last year.

  • April 23, 2024

    UK Rules Sri Lanka Ship Insurance Row Must Be In London

    A U.K. judge ruled Tuesday that a Sri Lankan shipping company cannot sue a London-based insurer in its home country over liability for a sunken container ship because the insurance contract is governed by English law.

  • April 23, 2024

    COVID-19 Has Disrupted Pension Life Expectancy Models

    Pension schemes have faced significant disruption to the way they calculate life-expectancy of their members as a result of the pandemic, a consultancy warned Tuesday.

  • April 23, 2024

    FCA Clarifies Greenwashing Rule, Extends ESG regime

    The Financial Conduct Authority has published clarifying final guidance on its anti-greenwashing rule for all regulated firms, saying on Tuesday that it will also extend its broader sustainability regime to include portfolio managers.

  • April 23, 2024

    15 Pension Mega-Deals Forecast In Coming Months

    The U.K. pension deals market is set for another record year, with around 15 mega transactions worth up to £30 billion ($37 billion) expected to go ahead in the next few months, a retirement savings consultancy said Tuesday.

  • April 22, 2024

    Trader Behind £1.4B Tax Fraud Thought Trades Were Valid

    A British trader accused of being the mastermind of a fraudulent trading scheme that cost Denmark's tax authority £1.4 billion ($1.7 billion) genuinely believed that the trades worked, his lawyer told a London court on Monday.

  • April 22, 2024

    Complaints Of Closed Bank Accounts To Ombudsman Surge

    Customer complaints to the Financial Ombudsman Service about closure of or refusal to open bank accounts have risen sharply in the last year, particularly from businesses, according to figures recently released by a select group of members of Parliament.

  • April 22, 2024

    Aviva Paid Over £413M In Group Protection Claims In 2023

    Aviva paid out more than £413.7 million ($509.6 million) in group protection claims to employees and their dependents in 2023, up from £373.9 million in 2022, according to a company report published Monday.

  • April 22, 2024

    FCA To Consider Big Tech Data-Sharing With Finance Firms

    The Financial Conduct Authority said on Monday it will examine how Big Tech's access to data could be valuable to firms in the finance sector if it reveals consumers' preferences, and will consider setting out incentives to encourage information-sharing.

  • April 22, 2024

    FCA Defends Response To British Steel Pension Scandal

    The Financial Conduct Authority on Monday said it took "appropriate regulatory action" amid complaints over its handling of the British Steel Pension Scheme transfer scandal and would not uphold any of the grievances it has received over its approach.

  • April 22, 2024

    Pension Lifeboat Says Gov't Plans Could Create £10B Finance

    The pensions compensation fund said that plans to give it a new role as a consolidator of smaller retirement schemes could result in an additional £10 billion being plowed into U.K. growth assets.

  • April 22, 2024

    FCA Urged To Halt Plan To Publicize Enforcement Probes

    The Financial Conduct Authority's plan to name the firms it probes and publish information about investigations at an earlier stage risks an unjustified departure from the "fundamental principle" of being innocent until proven guilty, a House of Lords committee warned in a letter published Monday.

  • April 19, 2024

    Insurers Push To Arbitrate Hurricane Damage Case

    An arbitrator should decide whether a Louisiana property owner's hurricane damage claims must be arbitrated, a group of surplus lines insurers argued in urging the Second Circuit to reject a New York district court's reliance on the circuit's precedent to find the arbitration clause at issue unenforceable.

  • April 19, 2024

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

    This past week in London has seen U.K. holiday resort chain Butlins target Aviva and a huddle of insurers, Meta and WhatsApp tackle a patents claim by telecommunications company Semitel, an ongoing construction dispute between Essex County Council and Balfour Beatty, and Formycon AG hit a pharmaceutical company for infringing medical products. Here, Law360 looks at these and other new claims in the U.K.

  • April 19, 2024

    Car Insurance Still 'Historically High' Despite Price Dip

    British motorists are still paying "historically high prices" for car insurance despite the cost of cover falling by 5% on average during the first quarter of 2024, broker WTW has said.

  • April 19, 2024

    Gov't Urged To Drop Plans For Small UK Pension Pots

    The government must abandon its controversial plans to tackle the proliferation of small pension pots and instead revisit a solution that was passed into law a decade ago, a consultancy said Friday.

  • April 19, 2024

    EU Firms Say Strict ESG Rules Risk Chasing Off Clients

    Large banks have warned the European Union's banking regulator that its proposed guidelines for managing sustainability risks are too demanding and could drive clients away to banks outside the bloc.

  • April 18, 2024

    Insurers Face Appeal Over Refusal To Cover Bribery Loss

    A holding company took its fight for an insurance payout to the Court of Appeal on Thursday, urging justices to force its insurers to cover its claim for losses it sustained when its acquisition of a construction contractor went south due to bribery and corruption allegations.

Expert Analysis

  • Surefire Marketing Methods To Build Your Legal Practice

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    Attorneys who take the time and the risk to showcase their talents through speaking, writing and teaching will find that opportunities will begin building upon themselves, says Daniel Karon of Karon LLC.

  • Mandatory Mediation May Lie Ahead For England And Wales

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    The U.K. Court of Appeals' decision in Lomax v. Lomax, among other recent developments, show significant judicial support for compulsory mediation of appropriate civil and commercial cases in England and Wales, say Margarita Michael and Grace Spurgeon of O'Melveny.

  • Key Risks And Developments For UK Law Firm Culture In 2020

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    In 2020, law firms throughout the U.K. will be increasingly reshaped by rapid changes in societal expectations and advances in technology, say Helen Rowlands and Niya Phiri of Clyde & Co.

  • Cos. Can Start Preparing Now For Immigration Beyond Brexit

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    Ahead of the U.K.'s likely departure from the European Union on Jan. 31, 2020, companies should use the one-year transition period to help workers understand any new registration requirements, evaluate budgetary concerns and expedite any employee relocations, say Julia Onslow-Cole and Charlotte Wills at Fragomen.

  • #MeToo Pressure On UK Businesses Is Set To Rise

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    Recent declarations by the Financial Conduct Authority and Prudential Regulation Authority indicate that sexual harassment in the U.K.'s financial services industry may lead to consequences under the newly expanded Senior Managers and Certification Regime, and other sectors are facing growing scrutiny as well, say attorneys at Covington.

  • Opinion

    UK's Insurer Investigations May Not Help Policyholders

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    The U.K. Ministry of Justice's recent investigations into insurers suspected of not passing on savings to consumers suggests insurers may see consequences for their hollow promises, but only if the government follows through to hold insurers accountable, says Tom Jones of Thompsons Solicitors.

  • The Outlook For Autonomous Vehicles In The UK And US

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    As both the U.K. and U.S. governments continue to develop regulatory frameworks for autonomous vehicles, manufacturers can take certain steps to avoid litigation and manage risk, say attorneys at FaegreBD.

  • Brexit's Impact On London As A Top Int'l Arbitration Seat

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    Despite concerns that London may be considered a less attractive place to do business post-Brexit, there are many reasons to believe that the city will retain its position as a globally favored arbitral seat, say Adrian Jones and James Wagner at FaegreBD.

  • Post-Brexit UK Likely To Conform With EU On Human Rights

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    In a recent speech, U.K. Foreign Secretary Dominic Raab stated his intent to expand sanctions for human rights violations by extending the so-called Magnitsky amendment, strongly indicating that Britain's exit from the EU would be unlikely to disrupt coordinated efforts to address international transgressions against human rights, says Stephen Baker at Baker & Partners.

  • The Evolution Of GDPR Enforcement Across The EU

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    With the last few months bringing significant fines to major businesses that have breached the European Union's General Data Protection Regulation, it is clear that regulators are moving away from the light-touch approach they employed during the transition to the new rules, says James Simpson of Blaser Mills.

  • Series

    Why I Became A Lawyer: Being There For Families In Trouble

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    My parents' contentious, drawn-out divorce was one of the worst experiences of my life. But it taught me how to be resilient — and ultimately led me to leave corporate litigation for a career in family law, helping other families during their own difficult times, says Sheryl Seiden of Seiden Family Law.

  • 3 Ways To Leverage Vulnerability For Lawyer Well-Being

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    Admitting to imperfection is an elusive construct in the legal industry, but addressing this roadblock by capitalizing on vulnerabilities can increase personal and professional power, says life coach and attorney Julie Krolczyk.

  • Zurich Case Brings Clarity To Complex Contempt Proceedings

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    The U.K. Court of Appeal's recent decision in Zurich v. Romaine provides insight into the meaning of "in the public interest" in the context of bringing contempt proceedings against a party or witness who verifies false claims, says Matt Peacock of Signature Litigation.

  • What A No-Deal Brexit Would Mean For Dispute Resolution

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    In the event of a no-deal Brexit, arbitration may become a more attractive option as a dispute resolution mechanism, as it offers relatively easy enforcement and clauses that could negate some uncertainty caused by Brexit, says Donna Goldsworthy of BDB Pitmans.

  • The Problem — And Opportunity — Of Implicit Bias In The Bar

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    Law firms are beginning to recognize implicit bias as a problem. But too few recognize that it is also an opportunity to broaden our thinking and become better legal problem solvers, says Daniel Karon of Karon LLC.

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