Insurance UK

  • April 15, 2024

    Pension Protection Fund Has 'Crucial' Future Role, LCP Says

    The Pension Protection Fund could play a crucial role in the "endgame" for defined benefit pension schemes as a state-backed consolidator of smaller retirement plans, a consultancy has said.

  • April 12, 2024

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

    This past week in London has seen footwear brand Dr. Martens hit online retailer Temu with a passing off claim, Welsh soccer club Swansea sue its former head coach Russell Martin, Russian diamond tycoon Dmitry Tsvetkov file a claim against his former business Equix Group Ltd., and U.S. bank Omega Financial Corporation hit African oil and gas company Tende Energy with a claim. Here, Law360 looks at these and other new claims in the U.K.

  • April 12, 2024

    Denmark's £1.4B Tax Fraud Trial Heads For 'Uncharted Waters'

    Denmark will open its £1.4 billion ($1.7 billion) dividend fraud case in London on Monday, beginning a yearlong trial that will have wide implications for other disputes arising out of the cum-ex trading scandal that has swept Europe.

  • April 12, 2024

    Insurers, FCA To Face Grilling Over Rising Car Premiums

    British insurers and regulators are due to be quizzed by senior MPs on April 17 on the reasons behind spiraling increases in motor insurance premiums.

  • April 12, 2024

    Pension Body Warns Of 'Burdensome' New Reporting Rules

    A U.K. pension industry body has called for new reporting regulations on the sector to be toned down, warning that the additional red tape could deter smaller schemes from taking steps to improve their investment strategies.

  • April 12, 2024

    SocGen To Sell Moroccan Units To Investment Firm For €745M

    Societe Generale SA said on Friday that it has agreed to sell its Moroccan banking and insurance businesses to private investor Saham Group SA for €745 million ($794 million) as part of its long-term ambition to streamline the company.

  • April 11, 2024

    Squire Patton Advises Broadstone Buy Of Credit Risk Co.

    Broadstone said on Thursday it had acquired credit risk company Vestigo Partners Ltd., in a deal steered by Squire Patton Boggs and Harrison Clark Rickerbys.

  • April 11, 2024

    Biggest Insurers Failing On Climate Plans, Says UK Charity

    Lloyd's of London is among the worst insurance players in the world in terms of providing cover to fossil fuel polluters, climate activists said Thursday.

  • April 11, 2024

    Pension Schemes Moving Toward Net Zero, Watchdog Says

    Britain's pensions watchdog said in a review published Thursday that retirement savings schemes have moved closer to achieving net-zero emissions standards in their portfolios by updating investment strategies and boosting allocations to low-carbon funds.

  • April 11, 2024

    £500K Injury Fraudster Sentenced After TV Appearance

    A woman who sought to claim almost £500,000 ($627,000) for injuries that she said left her unable to walk unaided has been sentenced for fraud after being spotted on a daytime reality TV talk show.

  • April 11, 2024

    Squire Patton Steers £130M Mitsubishi Pension Deal

    Insurer Just Group said Thursday it has signed off on a £130 million ($163 million) buy-in transaction for a scheme sponsored by Mitsubishi Chemical UK Ltd. in a deal guided by Squire Patton Boggs LLP.

  • April 10, 2024

    Insurer Aviva Expands Bulk Purchase Pilot For Small Pensions

    Insurance giant Aviva said Wednesday it has launched a streamlined bulk purchase annuity service to support smaller pension schemes with assets of less than £100 million ($126 million) to de-risk their plans.

  • April 10, 2024

    Pensions Watchdog Spurs Trustees On Climate Transition

    The Pensions Regulator on Wednesday urged trustees to consider official guidance for transitioning their investment portfolios to net-zero emissions standards.

  • April 10, 2024

    Insurers Say Regs Tweaks Make Accountant Cover Affordable

    Insurers welcomed on Wednesday revised regulations on accountants over the terms of their professional indemnity cover, saying the changes will keep costs down for firms.

  • April 10, 2024

    Compensation For Poor Pensions Advice At Record Low

    Compensation for retirement savers who were wrongly advised to transfer out of their defined benefit pension has hit a record low, a consultancy said on Wednesday.

  • April 10, 2024

    FCA Eyes Revisions To Payments For Investment Research

    The Financial Conduct Authority on Wednesday said it plans to revise how asset managers pay for investment research, seeking to simplify and expand access across the sector.

  • April 10, 2024

    Lifeboat Fund Opens Probe Into British Steel Pension Adviser

    The compensation program for financial services said it has opened an investigation into an advice firm in connection with the British Steel Pension Scheme scandal.

  • April 09, 2024

    Pension Scheme End-Game Options Rising, Consultancy Says

    A rise in funding means U.K pension schemes have more end-game options, consultancy Broadstone said Tuesday, as the aggregate surplus of thousands of defined benefit schemes increased to £455.5 billion ($578.4 billion) by the end of March.

  • April 09, 2024

    Insurance Director Denies Inducing Employees' Defection

    The director of an insurance startup incubator has denied allegations that he induced a managing general underwriter's employees to violate their duties when they left to found a new business, saying he believed the establishment of the new company was lawful.

  • April 09, 2024

    UK's Aviva Completes £453M Acquisition Of AIG's UK Biz

    U.K.-based insurance giant Aviva Life Ltd. said on Tuesday it had completed the purchase of an American International Group Inc. subsidiary for £453 million ($575 million), in a deal guided by Skadden Arps Slate Meagher & Flom LLP.

  • April 09, 2024

    Gov't Urged To Drop Plans For UK Pension Consolidator

    The government should abandon plans to transform the Pension Protection Fund into a state-backed consolidator of smaller retirement plans, a consultancy has warned.

  • April 09, 2024

    Gov't Urged To Ban Cash Incentives For Pension Switching

    The government should ban pension providers from offering cash incentives for savers to switch plans because the practice encourages people to ignore the "fine print" and move over to a worse option, new research by a provider of retirement savings plans suggests.

  • April 08, 2024

    Texas School District Not Immune In Arbitration Row

    A Texas school district isn't immune from a lawsuit by its insurers seeking to appoint an umpire in a $10 million hurricane damage dispute, a New York federal court ruled Monday, finding the district doesn't meet the standards set under the 11th Amendment.

  • April 08, 2024

    £54M Claimed From Failed Financial Services Last Year

    The U.K.'s lifeboat scheme said Monday it has recovered £54 million ($68 million) in the financial year ended March 31 from the estates of failed financial services companies.

  • April 08, 2024

    UK Eyes Reforms To Ease Corporate Apologies To Victims

    The government opened a new consultation on Monday into potential reforms that would make it easier for companies to apologize to alleged victims of wrongdoing, including in cases where organizations might be vicariously liable for the actions of an employee or a member.

Expert Analysis

  • Lessons From Carphone Warehouse's Partial FCA Settlement

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    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.

  • Collective Redress In The EU: Past, Present And Future

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    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.

  • Lenders Score Major High Court Victory In Foreclosure Case

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    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.

  • 3 Brexit Scenarios And Their Implications For US-UK Trade

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    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.

  • Frustrating Events: Are Your Contracts Brexit-Proof?

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    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.

  • Simple Secrets For Writing A Killer Brief

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    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.

  • What 2019 Has In Store For UK Data Protection

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    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.

  • Opinion

    Brexit International Arbitration Clause Is Misunderstood

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    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.

  • The Lawyer's Daily

    How To Requalify As A Lawyer In Canada

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    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.

  • Legal Technology Is Likely To Flourish In The UK

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    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.

  • Opinion

    Legal Operations Teams Are Gaining Popularity In EU

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    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.

  • Why Proper Document Redaction May Be An Ethical Duty

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    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.

  • Why The Flood Of GDPR Litigation Has Been Delayed

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    Eight months into the General Data Protection Regulation regime, we have not yet seen the expected deluge of U.K. class actions, but be warned — the floodgates will not remain closed, says Bryony Hurst of Bird & Bird LLP.

  • Opinion

    Law Schools Should Be More Like Medical Centers

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    Medical centers and their faculty matter to the practice of medicine. Law schools and their faculty do not matter to the practice of law, says J.B. Heaton of J.B. Heaton PC.

  • Opinion

    Courts Are Getting It Right On Litigation Funding Discovery

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    Earlier this month, a California federal court denied discovery into the identification of third-party funders with a financial interest in the outcome of an underlying patent infringement action. This decision in MLC v. Micron follows a long line of well-reasoned precedent across U.S. federal courts, say Matthew Harrison and Sarah Jacobson of Bentham IMF.

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