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Insurance UK
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June 27, 2025
UK Litigation Roundup: Here's What You Missed In London
This past week in London has seen the British Basketball Federation sued by members of the men's professional basketball league for alleged competition breaches, songwriter Coco Star file an intellectual property claim against Universal Music Publishing, and the Solicitors Regulation Authority file a claim against the Post Office amid ongoing investigations into law firms linked to the Horizon IT Scandal. Here, Law360 looks at these and other new claims in the U.K.
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June 27, 2025
Aon Denies Ex-Exec's $1.3M Bonus Bid Over Early Exit
Aon has rejected its former insurance consulting chief's $1.3 million claim for bonus and stock options, arguing that his employment contract ended before the payout date.
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June 27, 2025
ICO Secures Guilty Verdicts In Massive Data Misuse Case
The director of a legal funding company and seven other men have been convicted over a personal injury data conspiracy at an English court, the U.K.'s data regulator has said.
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June 27, 2025
Preventing Financial Crisis Best Thing For Growth, BoE Says
The government's growth agenda should not equate to throwing out all safeguards, because preventing a major financial crash is vital for ensuring Britain is competitive, a senior member of the Bank of England said Friday.
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June 27, 2025
Eversheds Leads £44M Deal With Industrial Co.'s Pension Plan
Industrial manufacturer Milliken has secured its U.K. employee pension scheme through a bulk purchase annuity transaction valued at £44 million ($60 million) with Royal London, Britain's largest mutual life insurer said Friday.
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June 26, 2025
Tokio Marine Unit Hit In £46M Case Over Mayfair Development
A Jersey-based property development company has sued a Tokio Marine HCC unit and an insolvent construction contractor for around £46 million ($63.2 million) for a string of alleged failures linked to the building of an apartment block and luxury hotel in Mayfair, west London.
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June 26, 2025
Ex-Consultant Wants £1.4M Over Botched Insurance Cover
A former consultant has sued a wealth management and benefits consultancy for £1.4 million ($1.9 million) for allegedly failing to arrange adequate insurance cover, which she claims left her short of money during serious illness and surgery.
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June 26, 2025
BoE Launches Forum For Financial Firms And Policy Body
The Bank of England said Thursday it has set up a forum for senior individuals in large financial services firms to liaise with the central bank's Monetary Policy Committee, which sets interest rates.
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June 26, 2025
Audit Watchdog Sets New Guidance For 'Black Box' AI
Britain's accounting watchdog warned Thursday in new guidance on using artificial intelligence in audits that the opacity of AI models makes it crucial for firms to document how they are controlled.
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June 26, 2025
Gov't Mulls Mandating Climate Plans From Banks, Insurers
Large banks and insurance companies in Britain could be forced to develop and publish a strategy for how they plan to align their business with global climate targets under proposals floated by the U.K. government.
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June 26, 2025
PIC Inks £900M Pension Deals For Energy Tech Biz
Pension Insurance Corp. PLC said Thursday that it has completed buy-ins with three plans sponsored by Baker Hughes Co., a global energy technology business, covering liabilities worth £900 million ($1.2 billion).
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June 25, 2025
Solicitor Hit With £30K Court Bill Over Fake Car Claims
A solicitor has been handed an eight-month suspended sentence and a £30,874 ($40,871) bill for filing false claims that city potholes in Stoke-on-Trent were damaging cars, following an investigation that uncovered anomalies in his invoices.
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June 25, 2025
EU Watchdog Pushes To Expand Digital Asset Program
The European Union's market watchdog advised lawmakers Wednesday to make a pilot scheme for tokenizing securities on digital ledger technology more flexible for investors and permanent.
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June 25, 2025
EU Insurers Push For Simplified Cybersecurity Regulation
A trade body for European insurers urged the European Commission on Tuesday to streamline the bloc's potentially counter-productive rule book on cybersecurity and digital resilience to help reduce duplication as the compliance burdens on the sector increase.
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June 25, 2025
Insurance Reforms Offer No Benefit, Irish Cos. Claim
Almost all businesses in Ireland claim they have not benefited from sweeping insurance reforms introduced by the country's government in recent years, campaigners said Wednesday.
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June 25, 2025
Adviser Wren Sterling Expands In Scotland With Acquisition
Financial and pensions advisory business Wren Sterling said Wednesday that it has acquired City Financial (Aberdeen) Ltd., expanding its presence in Scotland.
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June 25, 2025
Geopolitical Instability Tops Aviation Insurers' Concerns
The threat of further geopolitical instability is the biggest headache that aviation insurers anticipate over the next five years, according to a survey published Wednesday.
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June 24, 2025
UK Insurers Back Gov't Plan For Long-Term Growth
The Association of British Insurers has publicly backed the government's decade-long industrial strategy designed to promote business investment and growth in the U.K.
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June 24, 2025
Groups Urge EU To Trim Sustainable Finance Reporting Rules
Top global financial services industry trade bodies have urged European lawmakers in its review of the Sustainable Finance Disclosure Regulation to cut duplication with other sustainability reporting rules and reflect derivatives more clearly.
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June 24, 2025
Gateley Denies Housing Developer's Negligence Claim
Gateley PLC has denied that a law firm it acquired gave negligent advice to a housing developer during the purchase of two sites in southeast England and said that alleged legal restrictions on the land have not rendered the plots unprofitable.
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June 24, 2025
Insurers Hike Marine Premiums Due To Iran-Israel War
Insurers have hiked premiums for ships traveling in the waters around the Middle East amid the risk of insurance industry losses stemming from the Iran-Israel war, according to an analyst's report published Tuesday.
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June 24, 2025
Treasury Official Tapped As Interim Pensions Regulator Chair
The government has revealed Civil Service veteran Kirstin Baker as the next interim chair of Britain's retirement savings watchdog.
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June 24, 2025
Danish Pensions Fintech Biz Expands Into UK Market
Festina Finance, a Danish financial technology company, said it has begun fully operating its retirement savings platform for administrators of British pension plans.
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June 23, 2025
EU Fund Managers Could See Simplified Data Reporting
The European Union's financial watchdog on Monday released proposals to simplify how asset managers report data to regulators.
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June 23, 2025
Campaigners Agree Cost Cap In State Pension Redress Row
Campaigners said Monday they have agreed to cap legal costs with the Department for Work and Pensions in their fight against the government's decision not to pay compensation for historic failures around women's state pensions.
Expert Analysis
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Lessons To Be Learned From 2023's Bank Failures
This year’s banking collapses, coupled with interest rate rises, inflation and geopolitical instability have highlighted the need for more robust governance, and banks and regulators have learned that they must adequately monitor and control liquidity risk to protect against another financial crisis, say Juliette Mills and Alix Prentice at Cadwalader.
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The Top 7 Global ESG Litigation Trends In 2023
To date, ESG litigation across the world can largely be divided into seven forms, but these patterns will continue developing, including a rise in cases against private and state actors, a more complex regulatory environment affecting multinational companies, and an increase in nongovernmental organization activity, say Sophie Lamb and Aleksandra Dulska at Latham.
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PPI Ruling Spells Trouble For Financial Services Firms
The Supreme Court's recent decision in Canada Square v. Potter, which found that the claimant's missold payment protection insurance claim was not time-barred, is bad news for affected financial services firms, as there is now certainty over the law on the postponement of limitation periods, rendering hidden commission claims viable, say Ian Skinner and Chris Webber at Squire Patton.
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DC Ruling Provides Support For Builders Risk Claim Recovery
To deny coverage for builders risk claims, insurers have been increasingly relying on two arguments, both of which have been invalidated in the recent U.S. District Court for the District of Columbia decision, South Capitol Bridgebuilders v. Lexington, say Greg Podolak and Cheryl Kozdrey at Saxe Doernberger.
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Navigating The Novel Challenges Facing The Legal Profession
The increasing prominence of ESG and AI have transformed the legal landscape and represent new opportunities for lawyers, but with evolving regulations and the ever-expanding reach of the Solicitors Regulation Authority, law firms should ensure that they have appropriate policies in place to adapt to these challenges, say Scott Ashby and Aimee Talbot at RPC.
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New Fixed Costs Rules May Have Unforeseen Consequences
The recent changes to fixed recoverable costs, which were intended to reduce costs and increase certainty, have profound implications for civil claims, but may unintentionally prompt more litigation and reduce access to justice as lawyers leave the market, says Paul Squires at Sedgwick Legal.
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Sustainable Finance Consultations May Signal Key Changes
The European Commission's recently launched consultations on the sustainable finance disclosure regulation point to important changes, including the potential introduction of a new product categorization system, and illustrate that there are clearly issues with the existing framework, say Ferdisha Snagg and Andreas Wildner at Cleary.
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Deal Over Jets Stranded In Russia May Serve As Blueprint
In the face of a pending "mega-trial" over leased airplanes held in Russia after its invasion of Ukraine, a settlement between leading aviation lessor AerCap Holdings NV and NSK, the Russian state-controlled insurance company, could pave the way for similar deals, say Samantha Zaozirny and Timeyin Pinnick at Browne Jacobson.
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What The Auto-Enrollment Law Means For UK Workforce
In a welcome step to enhance retirement savings, the U.K. government is set to extend the automatic enrollment regime by lowering the eligibility age and reducing the lower qualifying earnings limit, but addressing workers' immediate financial needs remains a challenge, says Beth Brown at Arc Pensions.
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Protecting The Arbitral Process In Russia-Related Disputes
Four recent High Court and Court of Appeal rulings concerning anti-suit injunction claims illustrate that companies exposed to litigation risk in Russia may need to carefully consider how to best protect their interests and the arbitral process with regard to a Russian counterparty, say lawyers at Linklaters.
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RSA Insurance Ruling Clarifies Definition Of 'Insured Loss'
A London appeals court's recent ruling in Royal & Sun Alliance Insurance v. Tughans, that the insurer must provide coverage for a liability that included the law firm's fees, shows that a claim for the recovery of fees paid to a firm can constitute an insured loss, say James Roberts and Sophia Hanif at Clyde & Co.
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Key Takeaways From ICO Report On Workforce Monitoring
The Information Commissioner's Office recently published guidance on workplace monitoring, highlighting that employers must strike a balance between their business needs and workers' privacy rights to avoid falling afoul of U.K. data protection law requirements, say lawyers at MoFo.
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Firms Should Prepare For New DEI Reporting Requirements
While the Financial Conduct Authority and Prudential Regulation Authority's recent proposals on diversity and inclusion in the financial sector are progressive, implementing reporting requirements will pose data collection and privacy protection challenges for employers, say lawyers at Fieldfisher.
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Shifting From Technical To Clear Insurance Contract Wordings
Recent developments on insurance policies, including the Financial Conduct Authority's new consumer duty, represent a major shift for insurers and highlight the importance of drafting policies that actively improve understanding, rather than shift the onus onto the end user, say Tamsin Hyland and Jonathan Charwat at RPC.
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Recent Trends In European ESG-Related Shareholder Activism
New ESG reporting standards in the European Union, as well as recent climate change, board diversity and human rights cases, illustrate how shareholder activism may become more prominent in years to come as regulation and investor engagement continues to strengthen, say lawyers at Debevoise.