Insurance UK

  • January 07, 2025

    Travers Smith Steers £540M Pension Deal For UK Retailer

    Footwear retailer Clarks has offloaded £540 million ($677 million) of its staff retirement liabilities to Pension Insurance Corp. PLC, the insurer said Tuesday, in a deal guided by Burges Salmon, Travers Smith and CMS.

  • January 07, 2025

    PE Firm Lovell Minnick Invests In UK Consultancy Broadstone

    Lovell Minnick said Tuesday that it has taken a stake in Broadstone, a British financial services consultancy, as the U.S. private equity firm eyes a slice of the growing advisory sector.

  • January 06, 2025

    Royal London Sued For £27M Over Company Sale

    Asset manager M&G is suing Royal London for at least £27 million ($33.8 million) for allegedly failing to disclose a range of issues linked to a company the mutual insurance and investment firm sold to M&G that it says would have lowered the company's value had they been revealed.

  • January 06, 2025

    Zurich Denies Insurer's Bid For £580K Slice Of Settlement

    Zurich's U.K. entity has denied that a law firm it insured shut out a bankrupt insurance company from recovering over £580,000 ($730,000) as part of negligence claim that was settled without the bankrupt insurer's consent.

  • January 06, 2025

    Insurance Losses From Baltimore Bridge Pinned At $1.5B

    Insurers expect to face a total of $1.5 billion in losses from the Baltimore Bridge disaster last year, according to broker Gallagher Re.

  • January 06, 2025

    'Third Way' Pension Scheme Rules To Be Expanded This Year

    The regulatory foundations could be laid this year for a massive expansion in new types of collective pension schemes, a retirement savings provider said Monday.

  • January 06, 2025

    Most Fraud Starts On Social Media And Tech, Barclays Finds

    Most frauds start on social media and technology platforms, with investment scams accounting for a third of the total, according to new findings by Barclays Bank.

  • January 03, 2025

    Clyde & Co. Merges With Dallas Insurance Boutique

    Clyde & Co. LLP has announced a merger with Dallas boutique Tillman Batchelor LLP, expanding the global law firm's insurance capabilities in Texas amid its ongoing growth in North America.

  • January 03, 2025

    Complaints Commissioner To Warn FCA About P2P Lending

    The Complaints Commissioner for financial regulators has undertaken to write to the Financial Conduct Authority on significant issues in the peer-to-peer lending sector.

  • January 03, 2025

    Lloyd's Insurer Says No Business Interrupted In £3.7M Row

    A Lloyd's of London insurer has reiterated that the owner of a property in Greater Manchester cannot claim £3.7 million in damages and business interruption cover because no actual business was occurring at the building damaged by a burst water pipe.

  • January 03, 2025

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

    This past week in London has seen Chris Eubank Jr. hit with a libel claim from a boxing promoter, a perfume boss face proceedings from his businesses following sanctions violations claims, and Israeli broadcasters file intellectual property claims against BT and Sky. Here, Law360 looks at these and other new claims in the U.K.

  • January 03, 2025

    UK Levy Hike Drives Labor Costs Up In 2025, Think Tank Says

    U.K. businesses are facing a spike in labor costs, thanks to the government's decision to raise employers' National Insurance contributions, a payroll levy used to fund social programs, a think tank said Friday.

  • January 03, 2025

    Early Settlements Could Cut Russia Aviation Claims By $10B

    Insurers could reduce claims for aircraft stranded in Russia by as much as $10 billion through early settlements, a broker has said, but warned that the final bill will still be the largest aviation loss in history.

  • January 03, 2025

    Trustees Warned On 'Dead Money' Over Pensions Portal

    Trustees of pension scheme should carefully decide whether it is in the best interest of their members to connect to the long-awaited online retirement savings dashboards program and incur its associated costs, a retirement savings specialist said Friday.

  • January 02, 2025

    Legal Expenses Insurer Restructures After DAS Acquisition

    British insurer ARAG PLC said Thursday it has now fully integrated DAS UK, the legal protection insurer that it bought a year ago amid a broader restructuring of the company's operations.

  • January 02, 2025

    EU's 1st Financial Regulation Deal With Japan In Force

    The European Union said that a first-ever agreement with Japan designed to improve regulation in banking and other financial services and to combat money laundering has come into force.

  • January 02, 2025

    Global Insurance Prices Dip For First Time Since 2017

    Insurance prices for businesses globally fell by 0.9% last year, the first decrease after seven years of rate hikes and a possible sign of a market turn, Howden said Thursday.

  • January 02, 2025

    Elite Law Denies Fault In Lender's £1.9M Loan Fraud Case

    An English firm of solicitors has denied a claim that it cost a lender £1.9 million ($2.4 million) by failing to spot that the borrower of a property loan was allegedly a fraudster, telling a London court that it was not obliged to verify his identity.

  • January 02, 2025

    New Superfund Expected In 2025 Pension Deals Market

    A second defined benefit superfund could enter the pensions risk transfer market in 2025, a retirement savings consultancy said on Thursday as it predicted another bumper year ahead for transactions.

  • January 01, 2025

    Pensions, Insurance Risk Consolidation On Radar For 2025

    The main themes in 2025 for the insurance and pensions sectors will be consolidation and government priorities for greater investment in the economy —although potential legal and systemic risks loom.

  • January 01, 2025

    Regulation To Prioritize UK Growth Over Risk-Aversion In 2025

    Financial regulators have committed to giving priority to economic growth over risk-aversion in 2025 under new government priorities, a rebalancing that could create a conflict of interest with a recent focus on protecting consumers.

  • December 23, 2024

    Clifford Chance Steers Aviva's £3.7B Offer For Direct Line

    Insurer Aviva PLC said Monday that it will buy a rival company, Direct Line, in a £3.7 billion ($4.7 billion) cash and stock deal, a move that will create a British motor and home insurance giant.

  • December 20, 2024

    Many Firms Lack AI In Risk Operations, Study Finds

    A new study highlighted by UK Finance on Friday has found that almost four in 10 financial services organizations have not implemented artificial intelligence in their risk operations, leaving them with a widening technology gap compared with those who are so prepared.

  • December 20, 2024

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

    This past week in London has seen the University of Southampton sue a drone-maker over the rights to an uncrewed aircraft patent, Importers Service Corp. and its subsidiary ISC Europe take action against a former director who allegedly owes the company over £1.1 million ($1.4 million), and DAC Beachcroft face a fraud claim by a "prolific litigant." 

  • December 20, 2024

    Pension Scams Body Held Back By Lack Of Industry Funding

    An influential campaign group on pension scams said Friday that it will not be able to play a bigger role in raising awareness without funding from the retirement sector.

Expert Analysis

  • 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.

  • Guest Feature

    Preet Bharara On The Human Factor In The Justice System

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    A key theme in Preet Bharara's new book is the enormous role the human element plays in the administration of justice. The former U.S. attorney for the Southern District of New York discussed this theme, among other topics, in a recent conversation with White and Williams attorney Randy Maniloff.

  • Considering A More Cost-Effective Future For The SFO

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    In light of multiple recent examples of U.K. Serious Fraud Office investigations yielding far less than the agency may have hoped for, a new approach to prosecuting individuals and corporations may be a smart investment, says Azizur Rahman of Rahman Ravelli.

  • Lessons From Carphone Warehouse's Partial FCA Settlement

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    In the first case decided under the U.K. Financial Conduct Authority's new partial settlement process, Carphone Warehouse demonstrates not only the possible value of cooperating with authorities but also the cost of failing to right previous wrongs, says Syedur Rahman of Rahman Ravelli Solicitors.

  • Collective Redress In The EU: Past, Present And Future

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    Legislative processes harmonizing collective redress throughout the European Union have accelerated, leading to a proposed requirement that all member states establish collective action mechanisms, but some worry that the directive lacks sufficient guarantees against abusive litigation, say Philippe Métais and Elodie Valette of White & Case LLP.

  • Lenders Score Major High Court Victory In Foreclosure Case

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    The U.S. Supreme Court's unanimous ruling on Wednesday in Obduskey v. McCarthy & Holthus LLP removes nearly all activities taken by creditors seeking nonjudicial foreclosure of liens and mortgages from the ambit of the Fair Debt Collection Practices Act, says John Baxter of Nelson Mullins Riley & Scarborough LLP.

  • 3 Brexit Scenarios And Their Implications For US-UK Trade

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    Brexit negotiations are likely to result in one of three scenarios later this month: a Brexit deal, no Brexit at all or a "hard" no-deal Brexit. Each possibility will have different implications for the prospects of a U.S.-U.K. free trade agreement, says Dean Pinkert of Hughes Hubbard & Reed LLP.

  • Frustrating Events: Are Your Contracts Brexit-Proof?

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    In Canary Wharf v. European Medicines Agency, the U.K. High Court recently ruled that the U.K.'s withdrawal from the European Union will not discharge the EMA's lease obligations. Following Brexit, most similar arguments invoking force majeure or frustration are unlikely to succeed, say Rebecca Dipple and Wayne Hofer of Orrick Herrington & Sutcliffe LLP.

  • 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.

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