Insurance UK

  • May 16, 2024

    Pension Scheme Profit Warnings Ease In First Quarter

    The number of profit warnings issued by U.K.-listed companies with defined benefit pension schemes fell to 18 in the first quarter of this year, compared to 22 in the last three months of 2023, according to research published on Thursday by EY-Parthenon.

  • May 16, 2024

    Insurance Brokers Call For 'Breath' Amid Rising Regulation

    Increasingly demanding regulation from the Financial Conduct Authority is hampering insurance brokers and unnecessarily overlaps with preexisting practices the industry already follows, a trade body for the sector has said.

  • May 16, 2024

    MPs Call For Redress Program For State Pension Errors

    Lawmakers have urged the government to draw up plans by this summer for a redress scheme for retirement-age women who were short-changed on their state pensions.

  • May 16, 2024

    Average Pension Pot Value Plummets 66% Since 2012

    The average value of a defined contribution retirement savings pot has plunged by 66% in just over a decade, official figures revealed Thursday, as experts warned there was a risk of employers becoming stingier with pension benefits.

  • May 16, 2024

    Nationwide Cited For Compliance Breaches In PPI Market

    The competition watchdog said on Thursday it has written to Nationwide Building Society, telling the lender that it had breached the rules by giving clients incorrect information about insurance covering mortgage repayments.

  • May 15, 2024

    Baker McKenzie Guides £28M Pension Deal For Pharma Co.

    Canada Life has insured the retirement savings plans of more than 300 members of the U.K. subsidiary of Dutch pharmaceutical company Norgine Ltd. in a full buy-in transaction of £28 million ($35 million), with the deal guided by Baker McKenzie.

  • May 15, 2024

    FCA Charges 3 For Alleged £8M Pension Fraud

    The Financial Conduct Authority said Wednesday it has charged three consultants over an alleged fraudulent investment scheme in which victims lost £8 million ($10.1 million) of their pension savings.

  • May 15, 2024

    EU Insurers Press Commission On Priorities For Capital Rules

    European insurers have warned the executive arm of the bloc that implementation of agreed changes to the Solvency II rules must accord with its goals on climate change and increasing competitiveness.

  • May 15, 2024

    Lloyd's Further Tightens 'Cyberwar' Insurance Cover

    Lloyd's of London has tightened rules on members of the specialist insurance market over cover for state-backed cyberattacks.

  • May 15, 2024

    Experts See Risks In FCA's Soft-Touch Response To AI

    The Financial Conduct Authority has so far failed to detail its rules on artificial intelligence and is moving toward a reliance on companies to self-report, putting it at risk of deferring excessively to the sector it regulates, legal experts say.

  • May 14, 2024

    UK Gov't Rules Out NDA Ban In Harassment Cases

    HM Treasury said Tuesday that the U.K. government will not commit to a legislative ban on nondisclosure agreements in harassment cases, rejecting a call from MPs to bring an end to the "abusive use" of NDAs to silence victims.

  • May 14, 2024

    Insurance Broker Jensten Launches Major Restructuring

    British insurance brokerage Jensten said Tuesday that it is conducting a strategic restructuring by separating its underwriting business from its wholesale brokering division after recently raising nearly £170 million ($214 million) from its investors.

  • May 14, 2024

    EU Watchdog Sets Anti-Greenwashing Guidelines For Funds

    The European Union's markets regulator on Tuesday published its final guidelines for firms using ESG terms in fund names, requiring 80% of the fund's investments to match the claimed criteria to combat greenwashing risk.

  • May 14, 2024

    Gov't To Add Legal Powers, Staff To Stop Benefits Fraud

    The Department for Work and Pensions said Tuesday it will support new legislation to expand its powers to make arrests and conduct searches in its crackdown on benefits fraud.

  • May 14, 2024

    UK Pension Scheme Funding Edges Up £2.8B

    The overall funding level of U.K. pension schemes edged up £2.8 billion ($3.5 billion) last month, according to official figures Tuesday, but experts warned that there was potential "volatility" on the horizon amid uncertainty over whether interest rates will change this year.

  • May 14, 2024

    Taxpayers Could Face Bill For 'Shadow Fleet' Oil Spill

    British taxpayers could be on the hook for the cleanup if oil leaks from a ship operating without full insurance as a result of sanctions imposed on Russia, a senior figure at Lloyd's of London warned a panel of MPs on Tuesday.

  • May 13, 2024

    Pret Parent JAB To Dish Out Global Insurance Platform

    JAB Holding Co. the owner of Pret a Manger cafes, said Monday that it is planning to build a global insurance company and an asset management business to build on the success of its existing pet insurance businesses.

  • May 13, 2024

    Warning On Surge In Mortgages Going Beyond Retirement

    Almost half of new mortgages issued in Britain toward the end of 2023 reach beyond the state pension age, figures published on Monday show, raising the risk of an impending retirement crisis.

  • May 13, 2024

    UK Broker WTW Launches Ukraine Land War Insurance Cover

    Insurance broker WTW said on Monday that it has struck a deal to insure cargo traveling over land in Ukraine that comes under fire amid the protracted war with Russia.

  • May 13, 2024

    Gov't Tells Finance, Law Watchdogs To Improve AML Reports

    HM Treasury and Britain's anti-money laundering watchdog have told professional bodies in sectors including law and accounting to sharpen the focus in their annual reports on failures in compliance and supervisory actions.

  • May 13, 2024

    Demand Grows For Cross-Border Pensions In Unstable States

    Cross-border pension and saving plans have more than doubled in just five years, with much of the growth in schemes covering employees in unstable countries, according to a survey published Monday.

  • May 10, 2024

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

    The past week in London has seen Playtech file an intellectual property claim against online casino company OnAir Entertainment amid allegations of corporate spying, a broadcast equipment company sue its former owner amid allegations he conspired to inflate a customer’s finances, and aerospace company Vertical Aerospace hit a manufacturer with a claim following a test flight crash. Here, Law360 looks at these and other new claims in the U.K.

  • May 10, 2024

    Medical Device Co., Insurers Settle Equipment Damage Loss

    A medical device manufacturer and its insurers have settled their coverage dispute over the manufacturer's claim it suffered an "equipment breakdown loss" damaging its mills, lathes and vacuum pump, the insurers told a Florida federal court.

  • May 10, 2024

    Costs Of Pension Portals Rise £54M Over Launch Delays

    The cost of building new online pensions dashboards has risen by £54 million ($67.6 million) in three years as the project has faced delays due to poor governance, a damning report by the public sector audit watchdog said on Friday.

  • May 10, 2024

    Burges Salmon Steers £100M Pension Deal For Rathbones

    Insurer Canada Life said it has completed a £100 million ($125.1 million) buy-in with the pension schemes of investment and wealth management company Rathbones Group PLC, in a deal steered by Burges Salmon LLP.

Expert Analysis

  • 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.

  • Worldwide Freezing Orders Can Backfire Without Proper Care

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    Worldwide freezing orders, which preserve a respondent's assets until the outcome of the substantive case, are an important weapon in the arsenal of a commercial litigant. However, as FSDEA v. Dos Santos demonstrates, courts lay heavy obligations upon WFO applicants, says Nicola McKinney of Grosvenor Law Ltd.

  • UK Litigation And Guidance Highlight Cybersecurity Risk

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    Recent developments in the United Kingdom emphasize the importance of companies implementing cybersecurity measures proactively both to prevent incidents and to argue in mitigation when, not if, the company does suffer a data breach, say Guillermo Christensen of Ice Miller LLP and Anupreet Amole of Brown Rudnick LLP.

  • 2 BVI Cases Explore Scope Of Proper Purpose Test

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    Two recent cases in the Eastern Caribbean Court of Appeal have presented British Virgin Island courts an opportunity to develop a local jurisprudence regarding the BVI Business Companies Act and provide guidance on how the proper purpose test is to be applied, says Rosalind Nicholson of Walkers Global.

  • Last-Minute Brexit Preparations For EU Financial Firms

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    As the deadline for a hard Brexit draws ever closer, financial firms operating in the United Kingdom or European Union must consider how possible outcomes will impact transactions and contractual relationships, and take steps to mitigate business interruptions, say Gilles Kolifrath and Linda Sharkey of Kramer Levin Naftalis & Frankel LLP.

  • What To Expect From Serious Fraud Office In 2019

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    The coming year looks to be an interesting one for the U.K. Serious Fraud Office. With new Director Lisa Osofsky firmly in post, expectations are high that she will shake things up in the next few months, say Anna Gaudoin and Alison Geary of WilmerHale.

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