Insurance UK

  • January 09, 2025

    Freshfields Steers £1.5B Pension Megadeal For Catering Co.

    A food catering giant has offloaded £1.5 billion ($1.8 billion) of its pension liabilities to Standard Life, the insurer said Thursday, the first megadeal for the sector of 2025.

  • January 09, 2025

    Pension Transfer Redress Falls From Rising Gilt Yields

    The compensation that pension savers can claim for being poorly advised to transfer their pensions has fallen significantly — in most cases to zero — due to recent bond market fluctuations, a consultancy said Thursday.

  • January 09, 2025

    BoE Pledges To Get Tough On Cyberthreat, Climate Change

    The Prudential Regulation Authority wrote to chief executives in the insurance sector on Thursday, setting out tough regulatory priorities for 2025, as it seeks better resistance to cyberthreats and greater management of climate-change risk.

  • January 08, 2025

    BoE Eyes Relaxed Financial Regulation To Support Growth

    The Bank of England's regulatory arm told a House of Lords Committee on Wednesday that it will reduce bank reporting requirements and enable insurers to make certain investments before regulatory approval, amid other easing of its rules in line with government growth priorities.

  • January 08, 2025

    Loss Adjuster QuestGates Buys Insurance Investigation Biz

    Loss adjuster QuestGates has said it has bought investigations specialists Brownsword Group in a move the business said improves its market share in the third-party probe sector.

  • January 08, 2025

    Pension Trustees Warned Against Complacency On Funding

    Pension trustees should not be complacent over record improvements in scheme funding positions over the coming year, a consultancy warned.

  • January 08, 2025

    'Rainy Day' Funds Could Be In Next Pension Review

    The U.K. government may potentially weigh the benefits of new "rainy day" funds for those saving for retirement as part of a wider policy review, an insurer said Wednesday. 

  • January 08, 2025

    80% Of UK Retired Homeowners Missing State Benefits

    Eight in 10 pensioner homeowners failed to claim any of the benefits they were eligible to receive in 2024 and missed out on an average of over £1,800 ($2,220) a year in extra income, Just Group said Wednesday.

  • January 07, 2025

    Franco Manca Owner Sues Insurer QIC Over COVID Cover

    The owner of a restaurant chain has filed a legal claim against insurer QIC Europe over its failure to pay out compensation for COVID-19 losses after the U.K. Supreme Court refused to hear an appeal on a landmark ruling in favor of policyholders.

  • January 07, 2025

    NI Law Society Partners With Broker Gallagher On Cyber Risk

    Insurance broker Gallagher said it will provide risk management on cyber threats to hundreds of legal practices in Northern Ireland as a result of a tie-up with the region's professional standards body.

  • January 07, 2025

    Treasury Committee Launches Review Of Lifetime ISAs

    The Treasury Committee on Tuesday said it has launched a review to gauge whether the Lifetime Individual Savings Account introduced in 2016 is still fit for purpose as a combined financial product for first-time house buyers and pension savings.

  • January 07, 2025

    Finance Sector Seeks To Limit EU Technology Rules

    Finance trade bodies in Europe have urged lawmakers to exclude digital-based financial services from a new European Union regime that will strengthen cyber-resilience in finance when it starts in January because it would overlap with existing rules.

  • January 07, 2025

    Gallagher Sues Ex-CEO For £1.85M Over 'Fraud' In Exit Talks

    Gallagher's benefits and consulting arm has sued the former chief executive of a company it acquired for more than £1.85 million ($2.32 million) for allegedly withholding information about a major client that inflated the financial prospects of the business and the severance he received.

  • 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.

Expert Analysis

  • UK Group Data Breach Claims Pose Big Financial Risks

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    Recent English court decisions appear to make it easier for data breach victims to bring collective actions, and consequently companies may find they are liable for huge sums in addition to fines under the General Data Protection Regulation, say attorneys at Morrison & Foerster.

  • A Crucial Chance For UK Supreme Court To Clarify Arbitrator Bias

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    In Halliburton v. Chubb, the U.K. Supreme Court has an opportunity to tackle uncomfortable questions and support confidence in London's arbitration sector by policing effectively against bias and impartiality when arbitrators are involved in multiple tribunals, says Rosie Wild at Cooke Young.

  • Rebuttal

    Legal Industry Should Pursue AI Prediction Progress

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    As part of the debate prompted by my recent Law360 guest article on legal prediction using artificial intelligence, I would like to unpack four issues and suggest that attorneys and technologists continue to tackle the problems presently within reach, says Joseph Avery at Claudius Legal Intelligence.

  • Rebuttal

    AI Can't Accurately Predict Case Length And Cost — Yet

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    A recent Law360 guest article argued that artificial intelligence can precisely estimate the length and cost of a new case, but several limitations will likely delay truly accurate predictions for years to come, says Andrew Russell at Shaw Keller.

  • What To Expect During The Brexit Transition Period

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    While all formal ratification procedures for the U.K.'s departure from the European Union have been completed, the transitional period will bring an enormous range of trade, customs and regulatory issues, say attorneys at Mayer Brown.

  • Opinion

    Legal Prediction Is Demanding But Not Impossible

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    The New Jersey Supreme Court’s recent decision in Balducci v. Cige incorrectly concluded that predicting the length and cost of a case is nearly impossible, and overlooked artificial intelligence's ability to do so, says Joseph Avery with Claudius Legal Intelligence.

  • Surefire Marketing Methods To Build Your Legal Practice

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    Attorneys who take the time and the risk to showcase their talents through speaking, writing and teaching will find that opportunities will begin building upon themselves, says Daniel Karon of Karon LLC.

  • Mandatory Mediation May Lie Ahead For England And Wales

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    The U.K. Court of Appeals' decision in Lomax v. Lomax, among other recent developments, show significant judicial support for compulsory mediation of appropriate civil and commercial cases in England and Wales, say Margarita Michael and Grace Spurgeon of O'Melveny.

  • Key Risks And Developments For UK Law Firm Culture In 2020

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    In 2020, law firms throughout the U.K. will be increasingly reshaped by rapid changes in societal expectations and advances in technology, say Helen Rowlands and Niya Phiri of Clyde & Co.

  • Cos. Can Start Preparing Now For Immigration Beyond Brexit

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    Ahead of the U.K.'s likely departure from the European Union on Jan. 31, 2020, companies should use the one-year transition period to help workers understand any new registration requirements, evaluate budgetary concerns and expedite any employee relocations, say Julia Onslow-Cole and Charlotte Wills at Fragomen.

  • #MeToo Pressure On UK Businesses Is Set To Rise

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    Recent declarations by the Financial Conduct Authority and Prudential Regulation Authority indicate that sexual harassment in the U.K.'s financial services industry may lead to consequences under the newly expanded Senior Managers and Certification Regime, and other sectors are facing growing scrutiny as well, say attorneys at Covington.

  • Opinion

    UK's Insurer Investigations May Not Help Policyholders

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    The U.K. Ministry of Justice's recent investigations into insurers suspected of not passing on savings to consumers suggests insurers may see consequences for their hollow promises, but only if the government follows through to hold insurers accountable, says Tom Jones of Thompsons Solicitors.

  • The Outlook For Autonomous Vehicles In The UK And US

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    As both the U.K. and U.S. governments continue to develop regulatory frameworks for autonomous vehicles, manufacturers can take certain steps to avoid litigation and manage risk, say attorneys at FaegreBD.

  • Brexit's Impact On London As A Top Int'l Arbitration Seat

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    Despite concerns that London may be considered a less attractive place to do business post-Brexit, there are many reasons to believe that the city will retain its position as a globally favored arbitral seat, say Adrian Jones and James Wagner at FaegreBD.

  • Post-Brexit UK Likely To Conform With EU On Human Rights

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    In a recent speech, U.K. Foreign Secretary Dominic Raab stated his intent to expand sanctions for human rights violations by extending the so-called Magnitsky amendment, strongly indicating that Britain's exit from the EU would be unlikely to disrupt coordinated efforts to address international transgressions against human rights, says Stephen Baker at Baker & Partners.

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