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Insurance UK
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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."
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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.
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December 20, 2024
Law Firm Awarded £4.2M For Co.'s Mishandled PPI Claims
A London court awarded a specialist litigation law firm almost £4.2 million ($5.3 million) on Friday for the costs of a professional services company's botched handling of payment protection insurance claims.
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December 20, 2024
The Biggest Developments In Insurance In 2024
The financial watchdog has come under pressure this year from the Labour government to tackle the cost of insurance, which has soared because of rising claims caused by the ongoing repercussions from Brexit and the war in Ukraine.
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December 20, 2024
Pinsent Masons Hires Brabners' Head Of Pensions
Pinsent Masons LLP has recruited the head of Brabners' pensions team to join its growing pensions practice in Manchester, as the firm looks to respond to the continued consolidation of the pensions market.
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December 20, 2024
The Biggest UK Commercial Litigation Cases Of 2024
The High Court and Court of Appeal resolved some landmark legal disputes in 2024 — the justices liberated the open-source cryptocurrency community from spats over intellectual property protection and determined liability for the high-profile collapse of London Capital & Finance.
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December 20, 2024
Top UK Court Won't Hear Excel Biz Interruption Test Case
The U.K. Supreme Court has blocked an effort by insurers to overturn a landmark insurance test case ruling involving the Excel exhibition center in London, with thousands of policyholders now in line for payouts for losses from the COVID-19 pandemic almost five years ago.
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December 20, 2024
Financial Adviser Colbourne In Default After FCA Restrictions
The Financial Conduct Authority has said that Colbourne & Co., an independent financial adviser that it has prevented from doing regulated business, is in default and that clients can claim compensation.
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December 19, 2024
Arsenal, Liverpool Settle With Insurers In COVID-19 Dispute
Two Premier League clubs have hammered out a settlement with their insurers over a multimillion-pound lawsuit on COVID-19 business interruption claims.
Expert Analysis
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3 Insurance Issues Raised By The Notre Dame Cathedral Fire
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.
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Where The Post-Libor Litigation Tsunami Will Hit
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.
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Despite Decline In Cyberattacks, UK Cos. Should Stay Vigilant
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.
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UK Antitrust Watchdog Proposals Would Bolster Enforcement
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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Guest Feature
Preet Bharara On The Human Factor In The Justice System
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.
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Considering A More Cost-Effective Future For The SFO
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.
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Lessons From Carphone Warehouse's Partial FCA Settlement
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.
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Collective Redress In The EU: Past, Present And Future
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.
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Lenders Score Major High Court Victory In Foreclosure Case
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.
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3 Brexit Scenarios And Their Implications For US-UK Trade
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.
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Frustrating Events: Are Your Contracts Brexit-Proof?
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.
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Simple Secrets For Writing A Killer Brief
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.
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What 2019 Has In Store For UK Data Protection
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.
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Opinion
Brexit International Arbitration Clause Is Misunderstood
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.
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The Lawyer's Daily
How To Requalify As A Lawyer In Canada
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.