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Insurance UK
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July 09, 2025
Authorities Urged To Stagger Local Gov't Pension Fixes
The U.K. government should stagger the raft of proposed fixes to the Local Government Pension Scheme so as not to overwhelm administrators, Hymans Robertson has warned, calling for expectations to be realistic.
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July 09, 2025
BoE Flags Cyber Risk Blind Spots In Stress Test
The Bank of England's regulatory arm has warned companies that financial firms are ill-prepared for a cyberattack that threatens timely settlements.
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July 09, 2025
Zurich Loses Appeal For Software Patent At EPO
Zurich Insurance has lost its latest attempt to secure a patent over its software that helps multiple users work on a project, failing to convince a European appeals board that the technology is inventive.
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July 09, 2025
CMS Guides Utmost On 4 Pension Deals Worth £177M
Utmost Life and Pensions said on Wednesday that it has penned four retirement savings deals worth £177 million ($240 million) since the start of 2025.
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July 08, 2025
Howden Teams Up With Law Firm For Crypto Theft Product
Broking giant Howden has released a cryptocurrency theft insurance and recovery product in partnership with law firm Lawrence Stephens, in what it called a first-of-its-kind solution for the sector.
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July 08, 2025
EU Markets Regulator Unveils Plan To Cut Emissions By 2030
Europe's financial markets watchdog published Tuesday its first climate transition plan as a step toward meeting the European Union's climate objectives.
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July 08, 2025
2 Firms Steer Insurance Group CRC's Lloyd's Underwriter Buy
The wholesale insurance broker CRC Group has agreed to acquire the U.K.-based underwriting business Atrium from private equity firm Stone Point Capital.
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July 08, 2025
Underwriters Back FCA Move To Pare Back Insurance Rules
A trade group representing underwriters in London has backed plans floated by the Financial Conduct Authority to ax unnecessary requirements from its insurance rule book, but said areas of the proposals require clarification.
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July 08, 2025
Insurance Consultancy BW Acquires Cybersecurity Firm
Barnett Waddingham said Tuesday it has acquired advisory business Risk Evolves, a move the insurance consultancy expects will strengthen its offering for clients.
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July 07, 2025
PRA Flags Risks In Pension Deals Over Solvency Clauses
The regulatory arm of the Bank of England has warned the insurance industry that certain clauses in the terms of bulk purchase annuity transactions could expose them to risks totaling approximately £50 billion ($68 billion).
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July 07, 2025
Pension Regulator Teams With Industry On Net-Zero Transition
The Pensions Regulator said Monday it will work with workplace pension schemes and financial advisers to develop a format for occupational pension schemes to develop voluntary transition plans in line with the government's aim to reach net-zero by 2050.
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July 07, 2025
First Valuation Submitted Under New Pension Funding Code
Barnett Waddingham said Monday it had filed the first pension valuation of a retirement scheme under the new defined benefit funding code introduced by The Pensions Regulator last year.
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July 07, 2025
UK Regulators To Speed Up Lloyd's Agent Approvals
U.K. finance regulators and Lloyd's of London said Monday that they had agreed to changes to accelerate the authorization process for managing agents at the London insurance market.
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July 07, 2025
FCA Amends Exposed-Persons Definition In AML Guidance
The City watchdog published amended guidance on Monday on politically exposed persons that loosen the rules for holders of prominent public positions in the U.K., in a bid to make the safeguards more proportionate.
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July 07, 2025
Actuaries Warn Over Safeguards In Pension Surplus Rules
Most consulting actuaries do not believe that there should be a level at which pension plan trustees are required to release surplus funds tied up in their plans, in line with measures announced by the government, a trade body said Monday.
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July 07, 2025
Gov't Pension Reforms Could Add £29K To Workers' Savings
Millions of U.K. savers on average salaries could see their pension pots rise by up to £29,000 ($39,400) by their retirement date once proposed reforms that aim to "revolutionize" the sector are enacted, the government revealed on Monday.
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July 04, 2025
UK Litigation Roundup: Here's What You Missed In London
The past week in London has seen the owner of Crystal Palace and the troubled Olympique Lyonnais football clubs sue its current chief executive John Textor, Fieldfisher faces a claim by Georgian businessman Zaza Okusahvili, and a dispute partner at Travers Smith file a personal injury claim against the firm.
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July 04, 2025
Financial Trade Body Sets Out Proposals For Growth To Gov't
A trade body for financial institutions published on Friday its recommendations on HM Treasury's plans to support growth and reinforce Britain's position as a global financial center, including reconsideration of the Consumer Duty.
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July 04, 2025
UK Pensions Body Warns Over £15M Lifeboat Scheme Levy
The U.K. government should abolish an administration levy for the pension compensation scheme, a trade body has warned, after it emerged that retirement savings plans faced an unexpected £15 million ($20.5 million) bill.
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July 04, 2025
UK Pension Funds Braced For Further Trump Tariff Volatility
The U.K. pensions sector could face further market volatility in the second half of 2025 because of renewed trade tariffs or geopolitical conflicts, a consultancy warned Friday.
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July 04, 2025
Wider FCA Misconduct Rule Risks Over-Reporting Of Staff
The rule change proposed by the Financial Conduct Authority on non-financial misconduct for 37,000 companies outside the banking sector will generate pressure on businesses to protectively report employees to the regulator rather than risk later accusations of noncompliance.
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July 04, 2025
Sidley, A&O Shearman Steer Athora's £5.7B Pensions Biz Buy
Retirement group Athora Holding Ltd. will buy U.K. buyout specialist Pension Insurance Corp. for £5.7 billion ($7.8 billion) from an investment consortium, the companies have confirmed, a transaction that will create an insurance savings heavyweight in Europe.
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July 03, 2025
UK Insurance Agency M&A Down 35% In 1st Half
The pace of domestic mergers and acquisitions in the U.K. insurance market slowed down considerably in the first half of 2025, making it the slowest six-month period for M&A activity in the sector since the first half of 2019, a financial services consultancy said Thursday.
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July 03, 2025
EU Regulators Close Ranks To Fight Money Laundering
Europe's financial regulators said on Thursday they would work with the bloc's new central anti-money laundering watchdog to ensure the effective exchange of information to combat white-collar crime.
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July 03, 2025
Ex-Pensions Ombudsman Urges Gov't To Sustain Funding
The former head of the Pensions Ombudsman has praised the work of an anti-fraud unit established four years ago after it emerged that the government was pulling funding for the service.
Expert Analysis
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Examining Senior Managers' Accountability For AI Use
With the Financial Conduct Authority's artificial intelligence update and the Prudential Regulation Authority’s letter to the government offering key guidance on the Senior Managers and Certification Regime, Senior Managers in these organizations need to show they have taken steps to prevent breaching requirements in order not to be held personally accountable, says Jennifer Holyoake at DLA Piper.
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What Cos. Should Know About The EU Greenwashing Rules
The EU's recently proposed Green Claims Directive introduces new rules to improve the transparency and honesty of environmental claims in advertising, which will help ensure that consumers receive accurate and reliable information to make informed purchasing decisions, says Daja Apetz-Dreier at Morgan Lewis.
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The Art Of Corporate Apologies: Crafting An Effective Strategy
Public relations challenges often stop companies from apologizing amid alleged wrongdoing, but a recent U.K. government consultation seeks to make this easier, highlighting the importance of corporate apologies and measures to help companies balance the benefits against the potential legal ramifications, says Dina Hudson at Byfield Consultancy.
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Dissecting Recent Developments Against The Misuse Of NDAs
The U.K. government's recent plans to nullify nondisclosure agreements that prevent victims from reporting crimes should remind lawyers to proactively consider the necessity of such agreements, especially in light of the Solicitors Regulation Authority's warning notice on drafting improper NDAs, say Clare Davis and Macaela Joyes at RPC.
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What To Know About The Russia-Stranded Plane Ruling
The High Court's recent decision in Zephyrus Capital Aviation v. Fidelis Underwriting, rejecting reinsurers' U.K. jurisdiction challenges in claims over stranded planes in Russia, has broad implications for cross-border litigation involving exclusive jurisdiction clauses, says Samantha Zaozirny at Browne Jacobson.
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3 Notable Pensions Reforms In Spring Budget
The U.K. government’s spring budget introduced reforms to improve pension outcomes through the value for money framework and the lifetime provider model, as well as to encourage investments in Britain — three interlinked areas that could pressure trustees and providers to rethink how they approach investments, say Liz Ramsaran and Marcus Fink at DWF.
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UK Arbitration Ruling Offers Tips On Quelling Bias Concerns
An English court's recent decision in H1 v. W to remove an arbitrator because of impartiality concerns offers several lessons on mitigating bias, including striking a balance between arbitration experience and knowledge of a particular industry, and highlights the importance of careful arbitrator appointment, says Paul-Raphael Shehadeh at Duane Morris.
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Bias Ruling Offers Guidance On Disqualifying Arbitrators
An English court's recent decision in H1 v. W, removing an arbitrator due to bias concerns, reaffirms practical considerations when assessing an arbitrator's impartiality, and highlights how ill-chosen language by an arbitrator can clear the high bar for disqualification, say Andrew Connelly and Ian Meredith at K&L Gates.
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Insurance Policy Takeaways From UK Lockdown Loss Ruling
An English court's recent decision in Unipolsai v. Covea, determining that insurers' losses from COVID-19 lockdowns were covered by reinsurance, highlights key issues on insurance policy wordings, including how to define a "catastrophe" in the context of the pandemic, says Daniel Healy at Brown Rudnick.
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What COVID Payout Ruling Means For Lockdown Loss Claims
While the High Court's recent COVID-19 payout decision in Gatwick v. Liberty Mutual, holding that pandemic-related regulations trigger prevention of access clauses, will likely lead to insurers accepting more business interruption claims, there are still evidentiary challenges and issues regarding policy limits and furlough, say Josianne El Antoury and Greg Lascelles at Covington.
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Spartan Arbitration Tactics Against Well-Funded Opponents
Like the ancient Spartans who held off a numerically superior Persian army at the Battle of Thermopylae, trial attorneys and clients faced with arbitration against an opponent with a bigger war chest can take a strategic approach to create a pass to victory, say Kostas Katsiris and Benjamin Argyle at Venable.
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Top Court Hire Car Ruling Affects 3rd-Party Negligence Cases
The U.K. Supreme Court's recent decision in Armstead v. Royal & Sun Alliance, finding that an insurer was responsible for lost car rental income after an accident, has significant implications for arguing economic loss and determining burden of proof in third-party negligence cases that trigger contractual liabilities, say lawyers at Macfarlanes.
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Unpacking The Building Safety Act's Industry Overhaul
Recent updates to the Building Safety Act introduce a new principal designer role and longer limitation periods for defects claims, ushering in new compliance challenges for construction industry stakeholders to navigate, as well as a need to affirm that their insurance arrangements provide adequate protection, say Zoe Eastell and Zack Gould-Wilson at RPC.
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A Rare Look At Judicial Interpretation Of LEG Exclusions
A Florida federal court’s order last month in Archer Western-De Moya v. Ace American Insurance and an earlier decision from a D.C. federal court offer insight into how courts may interpret defects exclusion clauses developed by the London Engineering Group — filling a void in case law in the area, says Jonathan Bruce at Holman Fenwick.
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Ruling In FCA Case Offers Tips On Flexible Work Requests
In Wilson v. Financial Conduct Authority, the Employment Tribunal recently found that the regulator's rejection of a remote work request was justified, highlighting for employers factors that affect flexible work request outcomes, while emphasizing that individual inquiries should be considered on the specific facts, say Frances Rollin, Ella Tunnell and Kerry Garcia at Stevens & Bolton.