Insurance UK

  • June 07, 2024

    Former Allianz Unit Exec Admits Role In $6B Fund Fraud

    A former portfolio manager at Allianz SE's U.S. unit told a Manhattan federal judge Friday that he lied to investors about the risks of the German finance giant's now-defunct Structured Alpha Funds, admitting to his role in a $6 billion fraud.

  • June 07, 2024

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

    The past week in London has seen British broadcaster GB News hit with a libel claim by climate activist Dale Vince, MGM take aim at an immersive events company over intellectual property rights to the James Bond franchise, and law firms Stephenson Harwood and Bowen-Morris & Partners tackle a contracts claim by investment adviser Yieldstreet. Here, Law360 looks at these and other new claims in the U.K.

  • June 07, 2024

    Trio Make First Appearance In FCA's £8M Pension Fraud Case

    Three consultants made their first court appearance on fraud charges in London on Friday to face allegations by the Financial Conduct Authority over an investment scheme in which victims lost £8 million ($10.1 million) of their pension savings.

  • June 07, 2024

    Financial Adviser Gets 8 Years For Legal Funding Fraud

    A London judge sentenced a former financial adviser to eight years in prison on Friday after he was convicted of siphoning £5.8 million ($7.4 million) in secret commission payments from an investment fund in a legal financing fraud.

  • June 07, 2024

    'Squeezed Middle' Pension Schemes Urged To Be Flexible

    Defined benefit pension schemes with assets between £10 million ($12.7 million) and £250 million are the new "squeezed middle" in the retirement savings market, Hymans Robertson has said, encouraging those plans to remain flexible amid the challenges they face.

  • June 07, 2024

    30% Of UK Workers Unsure How To Access Pensions

    An estimated 30% of British workers are unsure about their retirement options and worry about how to access their savings, according to a study published by TPT Retirement Solutions Ltd.

  • June 07, 2024

    Swiss Finance Watchdog Issues New Cyber Warnings

    Switzerland's financial markets regulator issued new guidance for all regulated firms on Friday, telling them how to manage cyber risks after finding that many are failing to take the right steps to prevent attacks, including those against the service providers they use.

  • June 06, 2024

    La. Commercial Property Co. Settles Storm Insurance Dispute

    A Louisiana federal judge has dismissed a commercial property owner's coverage fight over windstorm damage after the company settled in arbitration with a group of 10 insurers.

  • June 06, 2024

    Broker Jailed For £46K Bouncy Castle Insurance Fraud

    A former insurance broker has been jailed for two years after pocketing more than £46,000 ($58,900) by editing another company's contract documents to increase the cost of the insurance premiums paid by his clients, City of London Police said Thursday.

  • June 06, 2024

    5 Questions For Linklaters Partner Guillaume Couneson

    Since European Union law negotiators gave final approval in May to the first worldwide rules on artificial intelligence, the pressure on global banks and insurers to prepare to comply has started. Here, Guillaume Couneson, a partner at Linklaters, tells Law360 that regulators are likely to focus initially on low-hanging fruit breaches.

  • June 06, 2024

    Pension Funding Levels 'Stable' Ahead Of Looming Election

    The political party that wins the July 4 general election will is likely to operate within an environment of stable funding for retirement savings plans, a consultancy said Thursday, as it highlighted the "relatively" consistent levels of funding in the past year.

  • June 06, 2024

    Stranded Plane Claims Belong In Ukraine, UK Judge Says

    A London judge ruled Thursday that a legal battle between insurers and aircraft lessors over planes that have been stranded in Ukraine after Russia's 2022 invasion should be heard in Ukraine rather than England.

  • June 06, 2024

    Lloyd's To Open Miami Office For Latin American Market

    Lloyd's of London said Thursday that it will open a new office in Miami in September to strengthen its business in Latin America and the Caribbean, which accounted for 4.6% of its 2023 gross written premium of $2.7 billion.

  • June 06, 2024

    ProMarine To Act As Underwriter For Allianz

    Allianz Commercial entered into a new partnership with ProMarine UW Ltd. Thursday, to provide comprehensive insurance for the smaller commercial marine industry of up to £10 million ($12.7 million) across the U.K., Ireland and Europe.

  • June 05, 2024

    Debevoise-Led Ambac Unveils 2 Deals Totaling $702M

    Debevoise & Plimpton LLP-led Ambac Financial Group on Wednesday announced two deals totaling $702 million, as the insurance holding company said it agreed to sell its financial guarantee business for $420 million in cash and separately announced that it will purchase a majority stake in Beat Capital Partners for roughly $282 million.

  • June 05, 2024

    Gov't UK ISA Savings Proposal Gets Cold Shoulder

    More financial firms on Wednesday warned that the U.K. government's plans to give consumers a new tax break for investing in U.K. companies was unworkable, adding it could conflict with the Financial Conduct Authority's consumer protection rules.

  • June 05, 2024

    Climate Risk Must Form Part Of Trustee Role

    A quarter of pension scheme trustees want a new interpretation of their fiduciary duties to allow them to consider climate risk because doing so will help tackle the dangers posed by a changing environment, Lane Clark & Peacock LLP said Wednesday.

  • June 05, 2024

    FCA Research Access Plan Is Flawed, EU Finance Body Says

    A group representing European financial firms said Wednesday that the Financial Conduct Authority's proposals to give asset managers more choice in how they obtain and pay for research are too inflexible, failing to make the U.K. more competitive.

  • June 05, 2024

    Labour's Pension Tax Plans Backed By Fiscal Research Body

    An influential economics think tank has backed plans by the Labour Party to reintroduce the lifetime allowance, arguing that there should be a cap on the tax-free accumulation of pensions wealth.

  • June 05, 2024

    EU Financial Watchdogs Team Up With Cybersecurity Agency

    The three financial regulators of the European Union signed an agreement with the EU cybersecurity agency on Wednesday to join forces to protect the pensions, markets and banking sectors in the bloc from cyberattacks and similar risks.

  • June 04, 2024

    Arch Insurance Denies Liability In £8M Hotel Spa Fire Row

    Arch Insurance (UK) Ltd. has denied liability for the £8 million ($10.2 million) claimed by two English hotel companies for a blaze allegedly caused by a roofer covered by the insurer because the business made "false" presentations about its risk.

  • June 04, 2024

    EU Watchdogs Demand Tighter Greenwashing Controls

    The European Union's financial regulators on Tuesday called on national regulators across the bloc to take tougher steps to combat greenwashing, using more resources and stepping up enforcement.

  • June 04, 2024

    Nearly A Third Of Over 55s Dipping Into Pensions Early

    Almost three in 10 retirees over the age of 55 have said they had withdrawn money from their pension before retirement as savers continue to feel squeezed by rising living costs, Just Group said Tuesday.

  • June 04, 2024

    UK Finance Firms 'Triple Clean Energy Investment' To $2.3B

    Britain's financial firms tripled their investments in clean energy projects to $2.3 billion in 2023, up from $800 million the year before, according to a new study published Tuesday.

  • June 04, 2024

    Labour Calls For Crackdown On Soaring Car Insurance

    The Labour Party said Tuesday it would lean on financial regulators to crack down on soaring car insurance costs if it won the election.

Expert Analysis

  • How Climate, Finance And Trade Will Intersect In 2021

    Author Photo

    In the coming year, the Biden administration will likely align its policies on climate change, finance and trade more closely with those of international partners and organizations, leading to more coordinated action on climate standards that will be applied across the global economy, say consultants at C&M International.

  • Perspectives

    Finding A Path Forward To Regulate The Legal Industry

    Author Photo

    Gerald Knapton at Ropers Majeski analyzes U.S. and U.K. experiments to explore alternative business structures and independent oversight for law firms, which could lead to innovative approaches to increasing access to legal services.

  • Whether And How To Compel Remote Arbitration

    Excerpt from Practical Guidance
    Author Photo

    As the pandemic delays in-person arbitration hearings, mediator and arbitrator Theodore Cheng provides arbitrators with a checklist to examine the rationale and authority for compelling parties to participate in remote hearings.

  • Creditors Welcome UK Supreme Court's Reflective Loss Decision

    Author Photo

    The U.K. Supreme Court's recent Sevilleja v. Marex decision benefits creditors and other stakeholders by excluding their claims from the reflective loss principle, which precludes third-party complaints that merely reflect company loss, say Robert Fidoe and Jack Moulder at Watson Farley.

  • How Courts Are Encouraging Mediation In England And Wales

    Author Photo

    As the judiciary braces for widespread pandemic-driven contractual disputes, courts in England and Wales are showing enthusiastic support for mediation, both when determining the implications of a party's refusal to mediate and when assessing whether normal restrictions on the use of mediation-derived information apply, says Leah Alpren-Waterman at Watson Farley.

  • Opinion

    EU Class Action Policy Guided By Wrong Measure Of Success

    Author Photo

    The political agreement obtained last month on the first European Union-wide rules on collective redress illustrates the fact that the main goal of the authorities is to increase the number of class action claims rather than focus on the application of standard civil liability principles, says Sylvie Gallage-Alwis at Signature Litigation.

  • An Attractive Regime For Governing Jurisdiction Post-Brexit

    Author Photo

    As indicated by the U.K.'s recent application to join the Lugano Convention, this is an "oven-ready" option for the U.K. for governing questions of jurisdiction and the enforcement of judgments with European Union countries after Brexit — but not without important differences from the current regime, say attorneys at Latham.

  • Reinsurance Implications Of COVID-19 Biz Interruption Laws

    Author Photo

    In light of legislative and public pressure in the U.S. and U.K. on insurers to cover business interruption losses related to COVID-19, reinsurers will face new questions regarding their obligation to cover claim payments, say Robin Dusek at Saul Ewing and Susie Wakefield at Shoosmiths.

  • UK Appellate Rulings Clarify Arbitral Choice Of Law

    Author Photo

    Two recent U.K. Court of Appeal decisions have changed the operation of the choice-of-law test for arbitration — a resolution as significant as changing the test itself because it affects the implied choices of the contracting parties, say attorneys at Squire Patton.

  • Post-Pandemic Litigation To Expect In England And Wales

    Author Photo

    Globally, we are already starting to see insolvency-related claims and a number of insurance, breach of ‎contract, employment and securities class actions across numerous sectors. These and other claims will likely increase for U.K. businesses, say Tracey Dovaston and Fiona Huntriss at Boies Schiller.

  • UK Lawyers Can Adapt Due Diligence To Screen New Clients

    Author Photo

    As COVID-19-related fraud gains pace, U.K.-based practitioners should help combat money laundering by using alternative methods to verify that new clients are who they say they are, says Christopher Convey, a barrister at 33 Chancery Lane and chair of the Bar Council's Money Laundering Working Group.

  • A UK Business View Of COVID-19's Economic Fallout

    Author Photo

    Covington attorneys Alex Leitch and Harry Denlegh-Maxwell provide a bird's-eye view of how U.K. businesses will navigate the legal and economic aftermath of the pandemic, including discussion of where litigation funding, class actions, insurance disputes and force majeure fit it.

  • Remote Depositions Bring Ethics Considerations For Lawyers

    Author Photo

    Utilizing virtual litigation technologies and participating in remote depositions require attorneys to beware of inadvertently violating their ethical obligations, including the principal duty to provide competent representation, say attorneys at Troutman Sanders.

  • Time For Presumptive Virtual Mediation In The UK

    Author Photo

    While the COVID-19 outbreak is a real-time test of the U.K. justice system’s adaptability and innovation, it is also an opportunity to deliver alternative dispute resolution through virtual technology — and there are two ways in which this could be achieved, says Suzanne Rab at Serle Court.

  • UK 'Property' Classification Boosts Confidence In Bitcoin

    Author Photo

    In AA v. Persons Unknown, the English High Court classified bitcoins as property that can be the subject of proprietary injunctions, indicating the slow but growing acceptance of virtual currencies within the U.K., say Steven De Lara and Colin Grech at Signature Litigation.

Want to publish in Law360?


Submit an idea

Have a news tip?


Contact us here
Can't find the article you're looking for? Click here to search the Insurance UK archive.
Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!