Insurance UK

  • July 03, 2024

    Financial Intel Biz Buys Abrdn's Compliance Unit For £14.6M

    Financial data intelligence provider Fintel said Wednesday that it has acquired Threesixty Services, a business support company, from British investment giant Abrdn for £14.6 million ($18.5 million) to boost its portfolio.

  • July 02, 2024

    EU Watchdog Requires Regulatory Liaison On Insurer Moves

    The European Union's insurance watchdog has published ground rules for regulators from departure and destination countries of insurers relocating within the bloc to engage actively and clearly.

  • July 02, 2024

    Insurance Body Urges Motorists To Verify Coverage Status

    The nonprofit body that protects people from uninsured hit-and-run drivers urged Britons on Tuesday to check their vehicle insurance status, as a recent YouGov poll revealed 10% of respondents appeared to be unaware that such insurance is compulsory.

  • July 02, 2024

    City Body Calls For Digital Gilt To Boost Retail Investing

    Britain's leading financial services trade body called Tuesday for a U.K. digital gilt to encourage retail investors, in a set of briefing papers aiming to improve competitiveness of capital markets.

  • July 02, 2024

    Irish Motor Insurance Damage Costs Soar 126%, Study Shows

    The cost of Irish motor insurance claims rose to €188 million ($201 million) in the first half of 2023 up from the six-monthly average of €83 million between 2015 and 2019 — a 126% jump — a study by the Central Bank of Ireland said Tuesday.

  • July 02, 2024

    Just Group Lands £260M Aviation Co. Pension Deal

    Insurer Just Group on Tuesday announced it has taken on £260 million ($328.7 million) worth of pension liabilities from a retirement savings plan sponsored by aviation company John Menzies Ltd., in a deal guided by Brodies LLP and Gowling WLG.

  • July 01, 2024

    Pilots Fight TUI Over Changed Income Protection Scheme

    A group of airline pilots launched their fight against TUI Airways Ltd. on Monday over allegations that the carrier breached their contracts by slashing its income protection policy for pilots who have to stop flying for health reasons.

  • July 01, 2024

    Zurich, Aon Launch Clean Hydrogen Insurance Facility

    Zurich Insurance Group and Aon PLC launched Monday a new insurance facility aimed at supporting clean hydrogen projects globally, providing comprehensive coverage for blue and green hydrogen projects with capital expenditures of up to $250 million.

  • July 01, 2024

    Royal London Completes Aegon Protection Book Transfer

    Mutual life insurance giant Royal London said Monday it has completed the transfer of 400,000 protection customers from rival insurer Aegon UK.

  • July 01, 2024

    UK Lifeboat Scheme Says Pension Transfer Firm In Default

    The Financial Services Compensation Scheme confirmed Monday it has declared pension adviser MacInnes & Bottomley as unable to pay claims.

  • July 01, 2024

    Osborne Clarke Guides Aviva's School Pension Deal

    Insurance giant Aviva has completed a full scheme buy-in for a pension plan sponsored by Taunton School, consultancy Broadstone said Monday, in a deal guided by Osborne Clarke LLP.

  • June 28, 2024

    EU Insurance Watchdog Warns Of Real Estate Risk Exposure

    The European pensions and insurance industries are increasingly exposed to the possibility of a real estate collapse, the sector watchdog warned in a newly published report into the financial stability for the region.

  • June 28, 2024

    Firms Face Increased Scrutiny Amid FCA Focus On Resilience

    The Financial Conduct Authority and the Prudential Regulation Authority have challenged two thirds of general insurance and investment firms about their ability to prevent disruption by threats like cyberattacks, according to an industry study.

  • June 28, 2024

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

    This past week in London has seen Uber hit with claims from Addison Lee and the former CEO of the Kabbee app, animal by-product company Leo Group file a defamation claim against a local anti-odor campaigner, and a self-styled lord who claims to be the illegitimate son of the late Prince Phillip resume legal action against his cousins for a share in his late aunt's estate. Here, Law360 looks at these and other new claims in the U.K.

  • June 28, 2024

    Addleshaw Goddard Guides Acquisitions Biz In £41.5M Deal

    Marwyn Acquisition Company II Ltd. on Friday said it's subsidiary MAC II UK Ltd. has agreed to buy pensions services provider InvestAcc Group Ltd., for £41.5 million ($53 million), which would be mainly financed by a fundraising program, advised by Addleshaw Goddard LLP. 

  • June 28, 2024

    Fidelis Claims No Liability In $23M Stranded Jet Spat

    Fidelis Underwriting Ltd. has hit back at another claim that it must pay out in a $23 million row over a leased plane stranded in Russia, arguing that no insured event has occurred, and that an Irish aviation lessor is not covered by the country's law.

  • June 27, 2024

    DWF Buys Australian Claims Management Business

    Private equity-backed DWF LLP said Thursday it has agreed to buy Australian claims management company Proclaim for an undisclosed amount to bolster its presence in the country.

  • June 27, 2024

    Shell, Insurer Sue Oil Co. For $3.7M Over Cargo Failures

    Shell Trading International Ltd. and its insurer have sued a Greek oil company for $3.7 million after claiming the near 30,000 metric tons of bitumen it bought from the European business did not comply with the agreed specification or quality.

  • June 27, 2024

    Chubb Claims No Liability In $219M Stranded Jets Row

    Chubb has denied that it owes a Bermuda-based subsidiary of a U.S. aircraft lessor in a $219 million row over a fleet of aircraft engines stranded in Russia and Ukraine because the planes are not lost and its policy does not cover war risk.

  • June 27, 2024

    Insurance Biz DeadHappy Goes Under After Serial Killer Ads

    Life insurance broker DeadHappy has fallen into administration, liquidators said Thursday, after bad taste adverts featuring a serial killer prompted its partners to pull the plug on new business.

  • June 27, 2024

    R&Q Insurance Appoints Liquidators To Push $465M Sale

    R&Q Insurance said Thursday that the Supreme Court of Bermuda has given it a green light to appoint three joint provisional liquidators to oversee the complete winding up of the troubled insurer.

  • June 27, 2024

    Sackers Steers Bentley Trustee In £880M Pensions Deal

    Luxury carmaker Bentley Motors Ltd. has passed £880 million ($1.1 billion) of the liabilities of its staff pension plan to Standard Life, the insurer said Thursday, in a deal steered by Sacker & Partners LLP, Travers Smith LLP and Eversheds Sutherland.

  • June 26, 2024

    Fidelis Says Aircraft Lessors Not Covered Under Russian Law

    Fidelis Underwriting Ltd. has said that the lessor and owners of three aircraft stranded in Russia after the country's invasion of Ukraine cannot reclaim $77.2 million for the planes from the reinsurer because they are not insured parties under Russian law.

  • June 26, 2024

    Britain's Phoenix Group Plans Sale Of SunLife

    Life insurance heavyweight Phoenix Group said Wednesday that it is planning to sell its SunLife Ltd. subsidiary that provides financial services to over 50s in the U.K.

  • June 26, 2024

    FCA Warns Insurers Over Consumer Protection Failings

    The City watchdog warned insurers on Wednesday over a failure to properly monitor clients who suffer financial harm from their products, following a sweeping review of consumer protection regulation.

Expert Analysis

  • Knowledge Management: An Unsung Hero Of Legal Innovation

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    As technology evolves, law firms are increasingly looking for ways to improve communication, transparency and service for their clients. Firms should put knowledge management at the core of their value proposition to create a competitive advantage, says Rob MacAdam at HighQ.

  • Uncertainty Concerning The UK's Proper Purpose Rule?

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    The U.K. Supreme Court's judgment in Eclairs v. JKX seemingly opened the door for a broad interpretation of the proper purpose rule, but despite the confusion, the rule will continue to operate as a useful legal safeguard for shareholders, say Nick Hoffman and Conal Keane of Harney Westwood & Riegels LLP.

  • How Europe's AML Regime Is Tackling Virtual Currencies

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    The use and provision of virtual currency services have remained largely unregulated in the European Union, but its newest anti-money laundering directive could be the first step to tougher regulation, say Chris Warren-Smith and Paul Mesquitta of Morgan Lewis & Bockius LLP.

  • UK Ruling Signifies Greater Cross-Border Sharing Of Data

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    In KBR v. SFO, the U.K. High Court confirmed that the Serious Fraud Office can require foreign companies to produce documents held outside the U.K. as long as there is a sufficient connection between the company and the jurisdiction. This judgment will embolden other agencies with similar compulsory document production powers, says Andrew Smith of Corker Binning.

  • Why Law Firms Should Monitor The Dark Web

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    Dark web monitoring allows law firms to see what sensitive information may have made its way onto the thriving global underground marketplace where cybercriminals buy and sell exposed data. It can also help lawyers advise clients on a wide range of legal and business matters, say Anju Chopra and Brian Lapidus of Kroll.

  • Lessons From UK's Data Backlash

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    Tesco Bank and British Airways are the latest British icons to find themselves in legal difficulties regarding data breaches, exemplifying the breadth of breach-related risks beyond the established route of the Information Commissioner's Office, says Kim Roberts of King & Spalding LLP.

  • Tech, Media, Telecom Investor-State Arbitration Is On The Rise

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    Disputes between foreign investors from the technology, media and telecommunications sector and host states are a substantial feature of the investor-state claims landscape. The recent growth of investor-state arbitrations in this sector could be explained by several factors, says Florencia Villaggi of Herbert Smith Freehills LLP.

  • Treat GDPR Compliance As A Marriage, Not A Wedding

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    Earlier this year, many businesses were so focused on ensuring that their privacy notices and customer lists were compliant by May 25 that they forgot that General Data Protection Regulation D-Day was just the first day of a new regime, rather than a one-day event, say Ben Pilbrow and Joanna Boag-Thomson of Shepherd and Wedderburn LLP.

  • New UK And US Regimes May Deter Foreign Investment

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    Newly proposed U.K. rules and the amended regime for the Committee on Foreign Investment in the United States will radically change how the two governments review sensitive transactions, which will affect the likelihood of deal clearance, deal timing and the drafting of appropriate contractual provisions, say Robert Bell and Jennifer Mammen of Bryan Cave Leighton Paisner LLP.

  • UK Employees May Soon Gain The 'Right To Disconnect'

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    Several European countries have recently incorporated the "right to disconnect" from work into their domestic legislation. Currently, there is no equivalent law in the U.K., but as stress levels continue to rise, it is likely that U.K. legislators will follow suit, says Sarah King of Excello Law.

  • Q&A

    A Chat With Faegre Client Development Chief Melanie Green

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    In this monthly series, Amanda Brady of Major Lindsey & Africa interviews management from top law firms about the increasingly competitive business environment. Here we feature Melanie Green, chief client development officer at Faegre Baker Daniels LLP.

  • UK's Proposed Investment Scrutiny Powers Are Far-Reaching

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    The recently issued National Security and Investment White Paper proposes a significant expansion in the U.K. government's powers to scrutinize foreign investments. If the proposals are brought into force, the U.K. regime will be one of the most stringent in the world, say Douglas Lahnborg and Matthew Rose of Orrick Herrington & Sutcliffe LLP.

  • Relief For Cos. Conducting UK Internal Investigations

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    After almost a year and a half of uncertainty, the U.K. Court of Appeal has restored the eminently sensible position that documents created in an internal investigation are capable of being covered by litigation privilege when a criminal investigation or prosecution is in prospect, say Simon Airey and Joshua Domb of Paul Hastings LLP.

  • Breaking Down The UK's Revised Corporate Governance Code

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    Recent changes to the U.K. Corporate Governance Code should reassure investors that companies with a premium listing on the London Stock Exchange are committed to being standard-bearers. Issuers may also benefit from the workforce engagement, corporate culture and diversity changes that will be brought into businesses, say Joseph Ferraro and Jennifer Tait of Willkie Farr & Gallagher LLP.

  • Q&A

    Back To School: Widener's Rod Smolla Talks Free Speech

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    In this new series featuring law school luminaries, Widener University Delaware Law School dean Rodney Smolla discusses teaching philosophies, his interest in First Amendment law, and arguing before the U.S. Supreme Court in Virginia v. Black.

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