Insurance UK

  • July 29, 2024

    BMS To Acquire Rival UK Insurance Broker From PE Biz

    Independent insurance and reinsurance broker BMS Group said Monday that it is set to purchase David Roberts & Partners Insurance Brokers Ltd. from Inflexion Private Equity Partners LLP.

  • July 26, 2024

    Virgin Loses Court Battle To Keep Pension Plan Changes

    An appeals court has ruled that regulations on contracted-out retirement savings plans require written confirmation from a scheme's actuary for changes affecting beneficiaries' future rights, not just past benefits, rejecting Virgin Media's challenge to a decision voiding decades-old changes to one of its pensions.

  • July 26, 2024

    Ellex-Led ERGO To Buy €80M Baltic Biz Of European Insurer

    European insurance heavyweight ERGO Group has agreed to acquire Norwegian nonlife insurer Gjensidige Forsikring ASA's Lithuania-based subsidiary ADB Gjensidige for €80 million ($87 million).

  • July 26, 2024

    FCA To Overhaul Prospectus Rules To Boost Capital Markets

    The Financial Conduct Authority set out plans to shake up the U.K.'s prospectus regime Friday, including new rules for public offers and risk disclosures, to help boost the country's ailing capital markets.

  • July 26, 2024

    EU Banks Must Improve Cyberattack Protection, ECB Says

    Lenders in the eurozone still suffer from "shortcomings" in fighting against and recovering from a severe — but plausible — cyberattack, the European Central Bank said Friday after it conducted a resilience stress test.

  • July 26, 2024

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

    This past week in London has seen U.K. band The 1975 face action by Future Sound Asia after its performance in Malaysia resulted in a festival's cancelation, Spectrum Insurance hit by The Motoring Organization following their dispute over information misuse, and a former police constable pursue defamation against a colleague for allegedly instigating a campaign of harassment against her. Here, Law360 looks at these and other new claims in the U.K.

  • July 26, 2024

    Fraudster Sentenced For Instagram Motor Insurance Scam

    A man who made almost £18,000 by operating as a "ghost broker" and selling invalid car insurance policies on Instagram has been handed a suspended prison sentence of 24 months at a London court, City Police has said.

  • July 25, 2024

    Insurer Can't Link Secrets Suit To $47M Claim, Ex-Worker Says

    A former worker for British insurance company Beazley urged a Florida federal court Thursday to toss claims alleging trade secrets theft, saying the company's suit doesn't show how he supposedly caused it to incur $47 million in damages from an arbitration case over a Brazilian thermoelectric plant.

  • July 25, 2024

    Audit Watchdog Sanctioned Firms £48M Last Year

    The Financial Reporting Council revealed Thursday that it fined firms a total of £48.2 million ($62 million) in the financial year ended March 31, including a £21 million fine against auditor KPMG related to its accounting for construction giant Carillion prior to its collapse in 2018.

  • July 25, 2024

    Insurance Trade Bodies Launch Sustainability Data Standard

    Two insurance trade bodies have released a resource designed to standardize the way underwriters ask clients about their sustainability data to address fragmented approaches across the industry.

  • July 25, 2024

    ITV Gets Regulatory Nod On Box Clever Pension Resolution

    The Pensions Regulator said Thursday that it has inked a preliminary agreement with British broadcaster ITV to provide full pension benefits to members of the Box Clever retirement savings plan after a lengthy legal tussle.

  • July 25, 2024

    Labour Gov't Faces 'Tricky Balancing Act' On Policy Priorities

    The Labour government faces a "tricky balancing act" in implementing policies that meet the financial needs of different generations, pensions provider Aegon said Thursday,

  • July 25, 2024

    Freeholders Face Homeowners' Action Over Insurance Fees

    Freehold owners are facing a class action from leasehold homeowners for allegedly charging hidden commissions on building insurance premiums for years, the law firm bringing the claim has said.

  • July 25, 2024

    FCA Consumer Duty Deadline May Spark Clash With UK Gov't

    The new Labour government and the Financial Conduct Authority could be heading for a clash over what constitutes a vulnerable consumer and how the laws protecting them from abuse should be enforced.

  • July 24, 2024

    EU Trade Body Warns Against FCA Enforcement Plans

    A trade body for European financial firms has warned that the Financial Conduct Authority's proposed naming of companies in enforcement investigations would make the U.K. an international outlier, damaging competitiveness.

  • July 24, 2024

    Parsley Producer Sues Broker For £1.3M Over Fire Damage

    A herbs and spice producer has sued an insurance broker for nearly £1.3 million ($1.7 million) for allegedly failing to organize sufficient cover that left it short when a fire broke out at its farm.

  • July 24, 2024

    Russia Sanctions Enforcement Lacks Bite, UK Charity Says

    Britain must develop a clearer sanctions enforcement strategy, an anti-corruption charity said on Wednesday, as it revealed that the government has issued no fines for breaches of rules since Russia invaded Ukraine in February 2022, more than two years ago.

  • July 24, 2024

    UK Insurer Warns Over Collisions With Russian 'Shadow Fleet'

    A marine insurer has warned that sanctions imposed on the Kremlin because of its invasion of Ukraine might prevent it from paying claims over collisions involving vessels insured by Russian rival IPJSC Ingosstrakh.

  • July 24, 2024

    Watchdog Steps In Over Misleading Health Insurance Adverts

    The advertising regulator said Wednesday that it has upheld complaints against two ad campaigns run by a nonprofit mutual insurance company on radio and TV, which it found to be misleading.

  • July 24, 2024

    British Steel Pension Redress Scheme Pays Out £8.7M

    The Financial Conduct Authority said Wednesday that its redress program for steelworkers given poor pensions advice has paid out a total of just £8.7 million ($11.2 million) in compensation.

  • July 24, 2024

    Can New Pensions Minister 'Serve Two Masters'?

    A new British pensions minister with a foot in two competing government departments could help create a more coherent pensions reforms, although some analysts warn of a potential Treasury takeover of pensions policy to prioritize economic stimulus.

  • July 23, 2024

    EU Urged To Give Finance Watchdogs More Powers

    A financial trade body on Tuesday called on European Union legislators to give regulators the power to modernize financial markets and make them more globally competitive.

  • July 23, 2024

    Consumer Group Calls For Crackdown On Insurance Practices

    The consumer group Which? called Tuesday for a crackdown by regulators after finding that half of insurance customers report a bad experience trying to claim on their policies.

  • July 23, 2024

    Employees Fight 'Harsh' Penalty In Bad Faith Resignation Test

    Three former employees of asset recovery companies urged Britain's top court on Tuesday to reconsider the "harsh" remedy against people who quit their jobs to pursue business opportunities said to belong to their employers, a case with potentially wide implications for "bad faith resignations."

  • July 30, 2024

    Bird & Bird Hires 2 Ex-Hogan Lovells Finance Pros In Milan

    Bird & Bird LLP has recruited two senior finance partners as part of a team of seven lawyers moving from Hogan Lovells in Milan, boosting growth in the firm's international finance and financial regulation practice.

Expert Analysis

  • 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.

  • Roundup

    Pursuing Wellness

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    In this Expert Analysis series, leaders at some of the law firms that committed to the American Bar Association's 2018 pledge to improve mental health and well-being in the legal industry explain how they put certain elements of the initiative into action.

  • Series

    Why I Became A Lawyer: Expanding The Meaning Of Diversity

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    My conservative, Catholic parents never skipped a beat when accepting that I was gay, and encouraged me to follow my dreams wherever they might lead. But I did not expect they would lead to the law, until I met an inspiring college professor, says James Holmes of Clyde & Co.

  • 2 Perspectives On Navigating The Litigation Funding Process

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    Paul Martenstyn of Vannin Capital and Daniel Spendlove of Signature Litigation share their top tips on how to get a case funded, drawing from their respective experience as a funder and a lawyer.

  • Answers To Key Legal Finance Ethics Questions

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    While there is discussion in some quarters about new regulations on commercial legal finance, the hands-off approach taken by the majority of courts and legislatures is an implicit recognition that it is already sufficiently regulated, says Danielle Cutrona of Burford Capital.

  • Competing Legal Factors Vex Insurance Arbitration Disputes

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    The Fifth Circuit ruled in May that international arbitration policy trumped state insurance law in McDonnel Group v. Great Lakes Insurance. But the courts have been inconsistent in applying conformity-to-statute clauses, the McCarran-Ferguson Act and a related U.S. treaty in the battle between federal preemption and state reverse preemption, says Gilbert Samberg at Mintz.

  • Cannabis Investors Should Beware Money Laundering Risk

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    Even if marijuana-related businesses are in compliance with local laws, their investors are not free of legal risk so long as cannabis remains a controlled drug in other countries, such as the U.K., say Robert Dalling and Wade Thomson of Jenner & Block.

  • Real-Life Lessons For Lawyers From 'Game Of Thrones'

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    What lessons can the various hands, maesters, council members and other advisers in "Game of Thrones" impart to real-life lawyers? Quite a few, if we assume that the Model Rules of Professional Conduct were adopted by the Seven Kingdoms, says Edward Reich of Dentons.

  • UK Firms Should Be Prepared For Government Raids

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    Recent enforcement activity from the Financial Conduct Authority and other regulators highlight the penalties firms face for procedural breaches, and the value in ensuring that employees are well-equipped to handle unannounced inspections, say James Marshall and Sonja Hainsworth of Bryan Cave.

  • Series

    Why I Became A Lawyer: Completing The Journey Home

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    My mother's connection to her Native American heritage had a major influence on my career — my decision to enter the legal profession was driven by the desire to return to my tribal community and help it in any way I could, says Jason Hauter of Akin Gump.

  • 3 Insurance Issues Raised By The Notre Dame Cathedral Fire

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    The devastating Notre Dame Cathedral fire provides a rare opportunity to consider the many unique factors that owners and insurers must consider when insuring national treasures, say attorneys at Zelle.

  • Where The Post-Libor Litigation Tsunami Will Hit

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    The permanent cessation of the Libor rate in 2021 will likely trigger a flood of litigation over many existing contracts that lack effective replacements. Marc Gottridge of Hogan Lovells identifies the types of products that may be most susceptible to disputes.

  • Despite Decline In Cyberattacks, UK Cos. Should Stay Vigilant

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    The U.K. Department for Digital, Culture, Media and Sport's latest cybersecurity survey shows that U.K. cyberattacks have decreased in the last 12 months, likely thanks in part to the General Data Protection Regulation. But companies' cybersecurity efforts should continue to evolve, say experts at PriceWaterhouseCoopers.

  • UK Antitrust Watchdog Proposals Would Bolster Enforcement

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    The U.K. Competition and Markets Authority's proposals for reshaping competition enforcement and consumer protection would shift the historical balance in U.K. competition policy, increasing regulatory burden on companies while weakening judicial scrutiny of CMA actions, says Bill Batchelor of Skadden.

  • Guest Feature

    Preet Bharara On The Human Factor In The Justice System

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    A key theme in Preet Bharara's new book is the enormous role the human element plays in the administration of justice. The former U.S. attorney for the Southern District of New York discussed this theme, among other topics, in a recent conversation with White and Williams attorney Randy Maniloff.

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