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Insurance UK
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September 04, 2024
Cap On Push-Payment Fraud Payouts To Plummet To £85K
The payments watchdog said Wednesday that it plans to cut the cap on compulsory reimbursement by companies of authorized push payment fraud from £415,000 ($546,000) to £85,000.
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September 04, 2024
Sackers, HSF Guide £1.3B Coats UK Pension Insurance Deal
British textiles manufacturer Coats Group PLC said Wednesday that it has offloaded its retirement savings plan liabilities to Pension Insurance Corp. in a deal worth up to £1.3 billion ($1.7 billion), steered by Sacker & Partners LLP and Herbert Smith Freehills LLP.
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September 03, 2024
Vet Gets Suspended Sentence For Allianz Pet Insurance Fraud
A crown court handed a veterinary nurse from West Sussex a suspended sentence after she admitted to making over £13,000 ($17,000) worth of fraudulent insurance claims from Allianz subsidiaries for her pets using the systems at her workplace.
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September 03, 2024
Norton Rose Hires Insurance Pro From Eversheds Sutherland
Norton Rose Fulbright said Tuesday that it has hired an insurance specialist as a partner from Eversheds Sutherland to boost its strengths representing companies in the sector on corporate and regulatory matters.
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September 03, 2024
Pensions Reform Could Fuel £200K Savings Boost
The government could boost the long-term savings of workers by £217,000 ($285,000) per person by increasing minimum pension contributions, an insurer said, as the U.K. wrestles with the prospect of a retirement savings crisis.
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September 03, 2024
Nearly Half Of Employers Advertise Legal Rights As 'Perks'
Nearly half of U.K. employers promoted legal entitlements such as pensions and sick pay as perks in job advertisements in August, according to research published on Tuesday.
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September 03, 2024
Half Of Women Unsure They Will Have Enough For Retirement
More than half of women in Britain do not believe they will have enough money to support their income in retirement, findings by an investment management company suggest, amid concerns over the gender pension gap.
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September 03, 2024
Pay To Play: The 2-Tier Legal Route For Crypto-Fraud Victims
More people are falling victim to cryptocurrency scams, but their options for recovering money are few and expensive, which creates a two-tier approach — one for those who have the means to pay lawyers and consultants and another for those who don't.
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September 02, 2024
SRA Rebukes Solicitor For Trading Without Insurance
The Solicitors Regulation Authority said Monday that it has rebuked a lawyer for operating without professional indemnity insurance and had failed to close his firm before the expiration of run-off cover.
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September 02, 2024
Greensill, Gupta Deny Conspiracy In Zurich Insurance Row
Financier Lex Greensill and steel magnate Sanjeev Gupta have denied conspiring to deceive underwriters at insurance giant Zurich over allegedly fake debts, amid a $400 million court battle in London over trade credit insurance.
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September 02, 2024
UK Underwriter Dual Buys Specialist Travel Insurance Co.
Underwriter Dual UK said Monday that it has acquired International Passenger Protection, a managing general agency, as it plots further expansion into the travel insurance sector.
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September 02, 2024
EU Asset Managers Seek Strong Governance On Data Feeds
A trade body for European asset managers called on Monday for strong governance of providers of consolidated tapes, which set out prices and volumes of shares and bonds in bloc-wide feeds for investors.
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September 02, 2024
National Grid Pension Plan Outsources Executive Services
The trustee of the National Grid UK Pension Scheme has outsourced several executive services to consultancy Lane Clark & Peacock LLP in a move designed to provide flexibility for the retirement savings plan of the electric power transmission network as it matures.
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August 30, 2024
UK Litigation Roundup: Here's What You Missed In London
This past week in London has seen television property developer Kambiz Babaee hit with a fraud claim, a Bitcoin podcaster reignite a dispute with Australian computer scientist Craig Wright and football club owner Massimo Cellino's company file a claim against ClearBank. Here, Law360 looks at these and other new claims in the U.K.
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August 30, 2024
Ireland Urged To Step In Over Insurance Reform 'Profiteering'
Insurance companies in Ireland have been accused of "profiteering" from personal injury reforms rather than passing savings on to customers in the form of lower premiums.
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August 30, 2024
Record Numbers With Pet Insurance In 2023, ABI Says
Some 4.4 million pet owners in Britain took out insurance to protect their animals in 2023 in an all-time high for the sector, according to the latest figures from the Association of British Insurers.
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August 30, 2024
Teachers Fired For Refusing New Pension Scheme Win Case
A school operator unfairly fired two teachers that refused to ink new employment contracts with a less favorable pension scheme, a tribunal has ruled.
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August 30, 2024
Standard Life Named 'Safe Haven' For Defrauded Pensioners
Insurer Standard Life has been appointed as a "safe haven" pension provider for members of retirement schemes that have lost out to fraud, the company said.
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August 29, 2024
Pension Consolidator Would Be Useful, Broadstone Says
Proposals put forward by the previous government to launch a public sector consolidator of retirement savings plans run by the pensions lifeboat fund would be a "welcome addition" to the market, Broadstone said Thursday.
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August 29, 2024
EU Warns That Greenwashing Risk Could Hit Investment
The European Union's markets watchdog said Thursday in its latest risk monitoring report that greenwashing and related malpractices are undermining investor trust and the credibility of green finance.
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August 29, 2024
Another British Steel Pension Adviser Declared In Default
A financial adviser connected to the British Steel pension scandal has been declared in default by the U.K.'s lifeboat scheme.
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August 29, 2024
UK Teetering On Pensions Crisis, Mercer Warns
The U.K. needs pension reform to avert a looming crisis that threatens a secure retirement for pensioners, according to a report by American consultancy firm Mercer LLC released Thursday.
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August 29, 2024
Ombudsman Reports 70% Surge In Financial Complaints
Users of financial products lodged 70% more complaints in the first quarter of the 2024/25 financial year compared with the corresponding previous period, the Financial Ombudsman Service reported on Thursday, a jump from almost 44,000 to approximately 75,000.
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August 29, 2024
Pensions Watchdog Calls For Early Take-Up Of Value Rules
The pensions watchdog urged the country's largest retirement plans on Thursday to adopt draft rules on providing value for money before they are officially implemented to help iron out technical kinks before they are rolled out to the wider sector.
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August 28, 2024
Lloyd's Says $5M NJ Settlement Fight Must Be Arbitrated
Lloyd's of London underwriters have told a New Jersey federal court that a man who was falsely imprisoned must arbitrate his dispute over the payment of a $5 million settlement from the city of Trenton, saying a provision in the city's policy requires arbitration.
Expert Analysis
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UK Antitrust Watchdog Proposals Would Bolster Enforcement
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.
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Guest Feature
Preet Bharara On The Human Factor In The Justice System
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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Considering A More Cost-Effective Future For The SFO
In light of multiple recent examples of U.K. Serious Fraud Office investigations yielding far less than the agency may have hoped for, a new approach to prosecuting individuals and corporations may be a smart investment, says Azizur Rahman of Rahman Ravelli.
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Lessons From Carphone Warehouse's Partial FCA Settlement
In the first case decided under the U.K. Financial Conduct Authority's new partial settlement process, Carphone Warehouse demonstrates not only the possible value of cooperating with authorities but also the cost of failing to right previous wrongs, says Syedur Rahman of Rahman Ravelli Solicitors.
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Collective Redress In The EU: Past, Present And Future
Legislative processes harmonizing collective redress throughout the European Union have accelerated, leading to a proposed requirement that all member states establish collective action mechanisms, but some worry that the directive lacks sufficient guarantees against abusive litigation, say Philippe Métais and Elodie Valette of White & Case LLP.
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Lenders Score Major High Court Victory In Foreclosure Case
The U.S. Supreme Court's unanimous ruling on Wednesday in Obduskey v. McCarthy & Holthus LLP removes nearly all activities taken by creditors seeking nonjudicial foreclosure of liens and mortgages from the ambit of the Fair Debt Collection Practices Act, says John Baxter of Nelson Mullins Riley & Scarborough LLP.
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3 Brexit Scenarios And Their Implications For US-UK Trade
Brexit negotiations are likely to result in one of three scenarios later this month: a Brexit deal, no Brexit at all or a "hard" no-deal Brexit. Each possibility will have different implications for the prospects of a U.S.-U.K. free trade agreement, says Dean Pinkert of Hughes Hubbard & Reed LLP.
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Frustrating Events: Are Your Contracts Brexit-Proof?
In Canary Wharf v. European Medicines Agency, the U.K. High Court recently ruled that the U.K.'s withdrawal from the European Union will not discharge the EMA's lease obligations. Following Brexit, most similar arguments invoking force majeure or frustration are unlikely to succeed, say Rebecca Dipple and Wayne Hofer of Orrick Herrington & Sutcliffe LLP.
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Simple Secrets For Writing A Killer Brief
These days, the legal profession offers meager opportunity for oral argument, so we need to focus on being better, brighter, tighter writers. And the key to writing a better brief is grabbing your judge's attention with a persuasive, well-crafted story, says Daniel Karon of Karon LLC.
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What 2019 Has In Store For UK Data Protection
Many of the big data protection compliance themes of 2018 will continue on this year, including even General Data Protection Regulation preparation, but the possibility of a no-deal Brexit may complicate matters, says Stewart Room of PwC LLP.
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Opinion
Brexit International Arbitration Clause Is Misunderstood
Much of the criticism aimed at the international arbitration clause in the recent Brexit withdrawal agreement unfairly identifies a perceived lack of transparency and appears to be based on a lack of understanding about the process, says Margarita Michael of O'Melveny & Myers LLP.
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The Lawyer's Daily
How To Requalify As A Lawyer In Canada
Becoming a lawyer in Canada is a challenging experience for foreign qualified lawyers. In addition to the bar exam, hurdles include obtaining certification from the National Committee on Accreditation, and complications from moving to Canada halfway through the process, says Kyle Abrey, in-house counsel at the Royal Bank of Canada.
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Legal Technology Is Likely To Flourish In The UK
The U.K. may soon surpass the U.S. in legal technology, thanks to regulatory reform, law firm investment and an entrepreneurial environment, says Bridget Deiters of InCloudCounsel.
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Opinion
Legal Operations Teams Are Gaining Popularity In EU
As the European and global economies continue to change, any legal department that does not want to get outflanked by faster, more agile competitors should consider the value that legal operations teams have to offer, says Hans Albers, president of the Association of Corporate Counsel Europe.
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Why Proper Document Redaction May Be An Ethical Duty
Paul Manafort's attorneys recently filed a court document containing incompletely redacted information, highlighting the need for attorneys to become competent at redaction — or at least at verifying that redaction has been performed correctly. Failure to do either could be construed as legal malpractice, says Byeongsook Seo of Snell & Wilmer LLP.