Insurance UK

  • May 02, 2024

    RPC Hires 4-Lawyer Risks Team From Mayer Brown

    Reynolds Porter Chamberlain LLP has boosted its professional liability disputes and regulatory offering with the hire of four specialists from Mayer Brown LLP to its office in London.

  • April 25, 2024

    Firms Urge Delays To 'Unclear' FCA Greenwashing Guidance

    Financial companies are urging the City watchdog to slow its anti-greenwashing rule that comes in force in May as legal experts warn that it has failed to clarify all its expectations in final guidance, putting businesses that make the wrong call at risk of enforcement action.

  • April 25, 2024

    Watchdog Urges Caution On New Types Of Pension Schemes

    The Pensions Regulator called on Thursday for a pause in the development of new types of retirement savings plans as it weighs whether they offer members sufficient levels of protection.

  • April 25, 2024

    UK Insurers To Curb Premium Finance 'Tax On Poor'

    Insurers said Thursday that they will take steps to reduce the additional expense incurred on policyholders which rely on finance arrangements to pay annual premiums.

  • April 24, 2024

    Klarna Trims Down Basque Bank's European Logo TM

    Buy-now, pay-later giant Klarna has won its fight to restrict trademark registration for a Spanish bank's logo, blocking protection in a myriad of categories ranging from laundry detergent to musical instruments.

  • April 24, 2024

    Regulator Says Half Of Retirement Plans Ready For Buyout

    Half of the 5,000-plus defined benefit pension schemes in Britain are expected to have exceeded their estimated buyout funding levels, the Pensions Regulator said Wednesday, giving trustees and employers a chance to reassess their long-term objectives.

  • April 24, 2024

    Network Rail Rejected Pension Expert Due To Age Bias

    An employment tribunal has ruled that Network Rail discriminated against an applicant to the pensions team because he was in his mid-50s, saying that the manager processing submissions barely glanced at his curriculum vitae.

  • April 24, 2024

    Osborne Clarke Guides Canada Life's £46M Lexmark Deal

    Insurer Canada Life has agreed to a £46 million ($57 million) buy-in with the pension scheme of printing business Lexmark Holdings Inc. in a transaction guided by Osborne Clarke LLP.

  • April 24, 2024

    PRA Asks Banks To Review Private Equity Exposure

    The Prudential Regulation Authority asked banks to review and assess their current practices to ensure they align with the regulator's expectations for effective risk management concerning private equity-linked credit and counterparty exposures.

  • April 24, 2024

    AXA, Zurich Deny Liability In £26M Bakery Fire Claim

    A group of six insurers has denied that it unlawfully refused to pay out at least £26 million ($32 million) to cover damage and losses caused by a blaze at a bakery, saying the food business did not comply sufficiently with fire procedures to justify a payout.

  • April 23, 2024

    Tax Experts Want Cut To Healthcare Insurance Levy

    Tax experts on Tuesday urged the U.K. government to partially suspend a levy on healthcare insurance products, after it revealed record premium tax revenue of £8.1 billion ($10.1 billion) last year.

  • April 23, 2024

    UK Rules Sri Lanka Ship Insurance Row Must Be In London

    A U.K. judge ruled Tuesday that a Sri Lankan shipping company cannot sue a London-based insurer in its home country over liability for a sunken container ship because the insurance contract is governed by English law.

  • April 23, 2024

    COVID-19 Has Disrupted Pension Life Expectancy Models

    Pension schemes have faced significant disruption to the way they calculate life-expectancy of their members as a result of the pandemic, a consultancy warned Tuesday.

  • April 23, 2024

    FCA Clarifies Greenwashing Rule, Extends ESG regime

    The Financial Conduct Authority has published clarifying final guidance on its anti-greenwashing rule for all regulated firms, saying on Tuesday that it will also extend its broader sustainability regime to include portfolio managers.

  • April 23, 2024

    15 Pension Mega-Deals Forecast In Coming Months

    The U.K. pension deals market is set for another record year, with around 15 mega transactions worth up to £30 billion ($37 billion) expected to go ahead in the next few months, a retirement savings consultancy said Tuesday.

  • April 22, 2024

    Trader Behind £1.4B Tax Fraud Thought Trades Were Valid

    A British trader accused of being the mastermind of a fraudulent trading scheme that cost Denmark's tax authority £1.4 billion ($1.7 billion) genuinely believed that the trades worked, his lawyer told a London court on Monday.

  • April 22, 2024

    Complaints Of Closed Bank Accounts To Ombudsman Surge

    Customer complaints to the Financial Ombudsman Service about closure of or refusal to open bank accounts have risen sharply in the last year, particularly from businesses, according to figures recently released by a select group of members of Parliament.

  • April 22, 2024

    Aviva Paid Over £413M In Group Protection Claims In 2023

    Aviva paid out more than £413.7 million ($509.6 million) in group protection claims to employees and their dependents in 2023, up from £373.9 million in 2022, according to a company report published Monday.

  • April 22, 2024

    FCA To Consider Big Tech Data-Sharing With Finance Firms

    The Financial Conduct Authority said on Monday it will examine how Big Tech's access to data could be valuable to firms in the finance sector if it reveals consumers' preferences, and will consider setting out incentives to encourage information-sharing.

  • April 22, 2024

    FCA Defends Response To British Steel Pension Scandal

    The Financial Conduct Authority on Monday said it took "appropriate regulatory action" amid complaints over its handling of the British Steel Pension Scheme transfer scandal and would not uphold any of the grievances it has received over its approach.

  • April 22, 2024

    Pension Lifeboat Says Gov't Plans Could Create £10B Finance

    The pensions compensation fund said that plans to give it a new role as a consolidator of smaller retirement schemes could result in an additional £10 billion being plowed into U.K. growth assets.

  • April 22, 2024

    FCA Urged To Halt Plan To Publicize Enforcement Probes

    The Financial Conduct Authority's plan to name the firms it probes and publish information about investigations at an earlier stage risks an unjustified departure from the "fundamental principle" of being innocent until proven guilty, a House of Lords committee warned in a letter published Monday.

  • April 19, 2024

    Insurers Push To Arbitrate Hurricane Damage Case

    An arbitrator should decide whether a Louisiana property owner's hurricane damage claims must be arbitrated, a group of surplus lines insurers argued in urging the Second Circuit to reject a New York district court's reliance on the circuit's precedent to find the arbitration clause at issue unenforceable.

  • April 19, 2024

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

    This past week in London has seen U.K. holiday resort chain Butlins target Aviva and a huddle of insurers, Meta and WhatsApp tackle a patents claim by telecommunications company Semitel, an ongoing construction dispute between Essex County Council and Balfour Beatty, and Formycon AG hit a pharmaceutical company for infringing medical products. Here, Law360 looks at these and other new claims in the U.K.

  • April 19, 2024

    Car Insurance Still 'Historically High' Despite Price Dip

    British motorists are still paying "historically high prices" for car insurance despite the cost of cover falling by 5% on average during the first quarter of 2024, broker WTW has said.

Expert Analysis

  • What A No-Deal Brexit Would Mean For Dispute Resolution

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    In the event of a no-deal Brexit, arbitration may become a more attractive option as a dispute resolution mechanism, as it offers relatively easy enforcement and clauses that could negate some uncertainty caused by Brexit, says Donna Goldsworthy of BDB Pitmans.

  • The Problem — And Opportunity — Of Implicit Bias In The Bar

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    Law firms are beginning to recognize implicit bias as a problem. But too few recognize that it is also an opportunity to broaden our thinking and become better legal problem solvers, says Daniel Karon of Karon LLC.

  • Roundup

    Pursuing Wellness

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    In this Expert Analysis series, leaders at some of the law firms that committed to the American Bar Association's 2018 pledge to improve mental health and well-being in the legal industry explain how they put certain elements of the initiative into action.

  • Series

    Why I Became A Lawyer: Expanding The Meaning Of Diversity

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    My conservative, Catholic parents never skipped a beat when accepting that I was gay, and encouraged me to follow my dreams wherever they might lead. But I did not expect they would lead to the law, until I met an inspiring college professor, says James Holmes of Clyde & Co.

  • 2 Perspectives On Navigating The Litigation Funding Process

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    Paul Martenstyn of Vannin Capital and Daniel Spendlove of Signature Litigation share their top tips on how to get a case funded, drawing from their respective experience as a funder and a lawyer.

  • Answers To Key Legal Finance Ethics Questions

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    While there is discussion in some quarters about new regulations on commercial legal finance, the hands-off approach taken by the majority of courts and legislatures is an implicit recognition that it is already sufficiently regulated, says Danielle Cutrona of Burford Capital.

  • Competing Legal Factors Vex Insurance Arbitration Disputes

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    The Fifth Circuit ruled in May that international arbitration policy trumped state insurance law in McDonnel Group v. Great Lakes Insurance. But the courts have been inconsistent in applying conformity-to-statute clauses, the McCarran-Ferguson Act and a related U.S. treaty in the battle between federal preemption and state reverse preemption, says Gilbert Samberg at Mintz.

  • Cannabis Investors Should Beware Money Laundering Risk

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    Even if marijuana-related businesses are in compliance with local laws, their investors are not free of legal risk so long as cannabis remains a controlled drug in other countries, such as the U.K., say Robert Dalling and Wade Thomson of Jenner & Block.

  • Real-Life Lessons For Lawyers From 'Game Of Thrones'

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    What lessons can the various hands, maesters, council members and other advisers in "Game of Thrones" impart to real-life lawyers? Quite a few, if we assume that the Model Rules of Professional Conduct were adopted by the Seven Kingdoms, says Edward Reich of Dentons.

  • UK Firms Should Be Prepared For Government Raids

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    Recent enforcement activity from the Financial Conduct Authority and other regulators highlight the penalties firms face for procedural breaches, and the value in ensuring that employees are well-equipped to handle unannounced inspections, say James Marshall and Sonja Hainsworth of Bryan Cave.

  • Series

    Why I Became A Lawyer: Completing The Journey Home

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    My mother's connection to her Native American heritage had a major influence on my career — my decision to enter the legal profession was driven by the desire to return to my tribal community and help it in any way I could, says Jason Hauter of Akin Gump.

  • 3 Insurance Issues Raised By The Notre Dame Cathedral Fire

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    The devastating Notre Dame Cathedral fire provides a rare opportunity to consider the many unique factors that owners and insurers must consider when insuring national treasures, say attorneys at Zelle.

  • Where The Post-Libor Litigation Tsunami Will Hit

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    The permanent cessation of the Libor rate in 2021 will likely trigger a flood of litigation over many existing contracts that lack effective replacements. Marc Gottridge of Hogan Lovells identifies the types of products that may be most susceptible to disputes.

  • Despite Decline In Cyberattacks, UK Cos. Should Stay Vigilant

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    The U.K. Department for Digital, Culture, Media and Sport's latest cybersecurity survey shows that U.K. cyberattacks have decreased in the last 12 months, likely thanks in part to the General Data Protection Regulation. But companies' cybersecurity efforts should continue to evolve, say experts at PriceWaterhouseCoopers.

  • UK Antitrust Watchdog Proposals Would Bolster Enforcement

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    The U.K. Competition and Markets Authority's proposals for reshaping competition enforcement and consumer protection would shift the historical balance in U.K. competition policy, increasing regulatory burden on companies while weakening judicial scrutiny of CMA actions, says Bill Batchelor of Skadden.

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