Insurance UK

  • 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.

  • May 10, 2024

    FCA Warns Firms Of Market Abuse Surveillance Failings

    The Financial Conduct Authority has warned in its latest market watch newsletter that some companies have inadequate or faulty systems to detect market abuse, with insufficient governance arrangements.

  • May 10, 2024

    MPs Mull Using Frozen Russian Assets For Ukraine Recovery

    Politicians are to probe leading experts, including the head of financial crime and compliance at Lloyd's of London, on whether the U.K. should follow the European Union and use profits from Russia's frozen assets to help Ukraine, as they examine the sanctions regime.

  • May 09, 2024

    AmTrust Loses Cap Costs Fight In Lloyd's Syndicate Deal

    A London court ruled Thursday that two reinsurers are entitled to cap at £1 million ($1.25 million) a range of expenses they are required to pay after they acquired AmTrust's economic interests in a Lloyd's syndicate.

  • May 09, 2024

    Insurer Beats Engineering Co.'s New Bid For $10M Payout

    England's Court of Appeal said Thursday that an insurer should not be on the hook for $10.4 million (£8.3 million) after a ship crashed into an oil platform, throwing out a legal challenge by a French engineering company.

  • May 09, 2024

    Pension Watchdog In Talks With Gov't Over New Remit

    The U.K.'s retirement savings watchdog said it is in talks with the government on formally extending its remit to encompass pension scheme administrators.

  • May 09, 2024

    Aviva Takes On Construction Co. Pension Scheme In Full

    Insurance giant Aviva has secured the benefits of all uninsured final salary members of a pension plan sponsored by a British construction group in a deal guided by CMS.

  • May 09, 2024

    Watchdog Preps Rules For Banks To Repay High-Value Fraud

    The payments watchdog has set out plans to extend its fraud reimbursement scheme to high-value bank transfers through the CHAPS system, reducing the risk that fraudsters will move there to avoid detection.

  • May 09, 2024

    Home Insurance Premiums Rise But Below Peaks, Says ABI

    Home insurance premiums rose 3% in the first quarter of 2024 because of harsh weather conditions, according to data published on Thursday by the Association of British Insurers.

  • May 09, 2024

    Fall In Inflation To Slow Insurance Price Hikes, EY Says

    British insurers will not make as much money from selling policies in the next three years because of an expected fall in inflation, Ernst & Young LLP said on Thursday, even though demand for car and home cover has risen.

  • May 09, 2024

    BBVA €12B Offer For TSB Owner Sabadell Turns Hostile

    Spanish banking giant BBVA launched a hostile takeover of Banco de Sabadell on Thursday, approaching shareholders directly with a €12 billion ($12.8 billion) all-share deal after being rebuffed by the rival bank's board.

  • May 08, 2024

    Marsh Can't Duck Chemical Co.'s Negligence Claim

    A London court on Wednesday refused Marsh's bid to strike out a global chemicals group's claim alleging the insurance broker negligently arranged faulty motor insurance cover.

  • May 08, 2024

    FCA Mulls 'Enforcement Watch' As Naming Alternative

    The Financial Conduct Authority's top executives on Wednesday vigorously defended its plans to name firms under investigation, but saw value in a potential alternative move to publish an "enforcement watch" newsletter giving an overview.

  • May 08, 2024

    HSF, Ashurst-Led Ardonagh Buys Insurer For $1.5B

    U.K. insurance broker Ardonagh Group Ltd. said on Wednesday it has agreed to acquire Australia-based PSC Insurance Group Ltd. in a transaction worth $2.25 billion Australian dollars ($1.48 billion), to help it expand into new markets.

  • May 08, 2024

    Insurer Claims 400 Pension Deals Penned In 12 Years

    Insurer Just Group said Wednesday it has completed 400 pension transfer deals since it launched in 2012, adding that the year ahead is poised to break more records in the retirement savings de-risking market.

  • May 08, 2024

    'Inertia' Fears Over FCA's Pension Anti-Scam Safeguards

    The anti-scam safeguards proposed by the Financial Conduct Authority on new pension online portals could inadvertently hinder workers from taking action to improve their retirement savings, an insurer warned Wednesday.

Expert Analysis

  • The Evolution Of GDPR Enforcement Across The EU

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    With the last few months bringing significant fines to major businesses that have breached the European Union's General Data Protection Regulation, it is clear that regulators are moving away from the light-touch approach they employed during the transition to the new rules, says James Simpson of Blaser Mills.

  • Series

    Why I Became A Lawyer: Being There For Families In Trouble

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    My parents' contentious, drawn-out divorce was one of the worst experiences of my life. But it taught me how to be resilient — and ultimately led me to leave corporate litigation for a career in family law, helping other families during their own difficult times, says Sheryl Seiden of Seiden Family Law.

  • 3 Ways To Leverage Vulnerability For Lawyer Well-Being

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    Admitting to imperfection is an elusive construct in the legal industry, but addressing this roadblock by capitalizing on vulnerabilities can increase personal and professional power, says life coach and attorney Julie Krolczyk.

  • Zurich Case Brings Clarity To Complex Contempt Proceedings

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    The U.K. Court of Appeal's recent decision in Zurich v. Romaine provides insight into the meaning of "in the public interest" in the context of bringing contempt proceedings against a party or witness who verifies false claims, says Matt Peacock of Signature Litigation.

  • 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.

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