Insurance UK

  • January 29, 2025

    Pension Plans To Start Entering Data Into Portals In April

    The first retirement savings plans will start to input customer data to the government's pension dashboards project in April, a top civil servant said Wednesday.

  • January 29, 2025

    CMS Steers £1.4B Pension Deal For Pharma Co.

    Legal & General said Tuesday that it has covered £1.4 billion ($1.7 billion) of pension liabilities for U.K. pharmaceutical company Aventis Pharma Ltd. to secure the benefits of all members of the retirement savings plan.

  • January 29, 2025

    Aercap Says Sanctions Don't 'Excuse' Insurers For Lost Jets

    Aircraft lessor Aercap told the High Court on Wednesday that insurers should have to cover losses over planes stranded in Russia because of Western sanctions imposed after the invasion of Ukraine.

  • January 29, 2025

    Pensions Watchdog Backs Gov't Surplus Investment Plans

    Britian's retirement savings watchdog has given its backing to proposals recently floated by the government that would relax rules to allow pension funds to invest billions of pounds tied up in surpluses.

  • January 29, 2025

    UK Watchdog To Help Small Businesses Obtain Audits

    The Financial Reporting Council said Wednesday it has launched a year-long campaign to help small businesses get audit services to help them raise capital.

  • January 29, 2025

    'Huge Disparity' In Pension Savings Between Men And Women

    Recent figures revealing that adult men have almost twice as much median pension wealth as women demonstrate the "huge disparity" among retirees and highlights the need for more targeted support to bridge the gap, a financial services consultancy said Wednesday.

  • January 28, 2025

    AerCap Says Insurers Are On The Hook For Stranded Planes

    There is "no merit whatsoever" to arguments by aviation insurers seeking to escape liability for the loss of aircraft seized by Russian airlines, a lawyer for major lessor AerCap said in closing submissions Tuesday at a High Court trial with billions of dollars at stake.

  • January 28, 2025

    Gov't Floats Pension Reforms To Reinvest Surplus Funds

    The U.K. government on Tuesday mapped out plans to relax pension fund rules to allow schemes to invest billions of pounds tied up in retirement plan surpluses in their own business or wider economy.

  • January 28, 2025

    HDI Reaches Settlement On Planes Stranded In Russia

    Insurance company HDI Global Specialist SE has settled its fight with a dozen aircraft companies over payouts for planes stranded after Russia's invasion of Ukraine, ending one of many disputes in sprawling litigation worth billions of pounds. 

  • January 28, 2025

    Insurers Challenged Over Furlough Cuts On COVID Claims

    Hospitality businesses forced to close during the COVID-19 pandemic launched an appeal on Tuesday over whether insurers were right to attempt to deduct the £6.5 million ($8.1 million) they received in state support from claims payouts.

  • January 28, 2025

    NFU Mutual Denies Liability In £10M COVID-19 Loss Row

    The National Farmers Union Mutual Insurance Society has argued that it does not owe a group of hospitality and farming businesses approximately £10.5 million ($13 million) for alleged losses after COVID-19 took hold in Britain because their policies did not cover the pandemic.

  • January 28, 2025

    Hotel Group Settles With Aviva Over £6.2M Blaze Payout

    Britannia Hotels has settled its £6.2 million ($7.7 million) damages claim against Aviva which alleged that the insurer did not pay out money owed for damage caused by a fire, a London court has confirmed.

  • January 27, 2025

    Royal London Hits Back In £27M Company Sale Row

    Mutual insurance and investment firm Royal London has denied that it breached any warranties during the sale of a company to M&G and that it does not owe at least £27 million ($33.7 million) claimed by the asset manager.

  • January 27, 2025

    Trader Faces US Extradition Over $10M Securities Fraud

    A trader wanted for running a "pump and dump" scheme that generated more than $10 million in unlawful stock sales will face extradition to the U.S. at a London court hearing in June, it was confirmed on Monday.

  • January 27, 2025

    UK Pension Deals Market Set To Hit £70B In 2025, WTW says

    The pension deal market in the U.K. is likely to hit £70 billion ($88 billion) in 2025, broker WTW said Monday, as funding levels continue to improve, and more insurance companies enter the market.

  • January 27, 2025

    FCA Warns Wholesale Brokers Of Money Laundering Risk

    The City watchdog has urged wholesale brokers to work harder to manage risks associated with money laundering because they might be used to execute trades that facilitate financial crime.

  • January 24, 2025

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

    This past week in London has seen Axa Insurance and Admiral face a claim from a former lawyer recently exposed for personal injury fraud, the owner of Reading Football Club sue a prospective buyer and mobile network Lycamobile tackle action by Spanish network Yogio. Here, Law360 looks at these and other new claims in the U.K.

  • January 24, 2025

    Ex-AXA Staffer Can Retry 10-Year-Old Bias Claim

    An appellate judge has ruled that the employment tribunal must take a second look at a former AXA unit employee's disability discrimination claim after the lower tribunal found a nine-year delay made a fair hearing impossible.

  • January 24, 2025

    Eversheds Guides £53M Pension Deal For Building Co.

    Buildings insulations maker Rockwool secured its pension scheme through a £53 million ($66 million) full scheme buy-in transaction with Royal London Group guided by Eversheds Sutherland, an insurance broker said Friday.

  • January 24, 2025

    EU Parliament Can't Get €800K Flooding Insurance Payout

    The Parliament of the European Union has failed to force its insurers to cough up almost €800,000 ($841,000) to cover for its flooded administrative office, after the bloc's highest court rejected its appeal over whether the damage fell under a flood exclusion in its policy.

  • January 24, 2025

    Broker SRG Expands Into Europe With German Partner

    Insurance broker Specialist Risk Group said Friday that it has reached a new long-term partnership deal with Ecclesia Group that will allow it to expand in mainland Europe, and take on the German company as one of its shareholders.

  • January 24, 2025

    Gov't Stats Reveal 13% Of Pensioners Living In Poverty

    The government has said that approximately 13% of pensioners are living in poverty, publishing figures that shine further light on the issue of retirement deprivation that is now under parliamentary scrutiny.

  • January 23, 2025

    Aspen Sued For £4.2M Over Wood Pellet Equipment Damage

    A company claiming to be one of the largest wood pellet manufacturers in the U.K. has sued Aspen Insurance UK Ltd. for over £4.2 million ($5.2 million) for allegedly failing to cover losses the company says it sustained after damage to its production equipment.

  • January 23, 2025

    Actuaries Body Wants Separate Inheritance Tax For Pensions

    The government must consider a separate inheritance tax regime for pension assets, a trade body said, warning that proposed reforms were unworkable as currently drafted.

  • January 23, 2025

    FCA Finds Gaps In Brokers' Money Laundering Defenses

    The Financial Conduct Authority on Thursday urged brokers to tighten anti-money laundering controls, after a review it ran found gaps in their defenses against the flow of tainted cash through Britain's capital markets.

Expert Analysis

  • How Courts Are Encouraging Mediation In England And Wales

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    As the judiciary braces for widespread pandemic-driven contractual disputes, courts in England and Wales are showing enthusiastic support for mediation, both when determining the implications of a party's refusal to mediate and when assessing whether normal restrictions on the use of mediation-derived information apply, says Leah Alpren-Waterman at Watson Farley.

  • Opinion

    EU Class Action Policy Guided By Wrong Measure Of Success

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    The political agreement obtained last month on the first European Union-wide rules on collective redress illustrates the fact that the main goal of the authorities is to increase the number of class action claims rather than focus on the application of standard civil liability principles, says Sylvie Gallage-Alwis at Signature Litigation.

  • An Attractive Regime For Governing Jurisdiction Post-Brexit

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    As indicated by the U.K.'s recent application to join the Lugano Convention, this is an "oven-ready" option for the U.K. for governing questions of jurisdiction and the enforcement of judgments with European Union countries after Brexit — but not without important differences from the current regime, say attorneys at Latham.

  • Reinsurance Implications Of COVID-19 Biz Interruption Laws

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    In light of legislative and public pressure in the U.S. and U.K. on insurers to cover business interruption losses related to COVID-19, reinsurers will face new questions regarding their obligation to cover claim payments, say Robin Dusek at Saul Ewing and Susie Wakefield at Shoosmiths.

  • UK Appellate Rulings Clarify Arbitral Choice Of Law

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    Two recent U.K. Court of Appeal decisions have changed the operation of the choice-of-law test for arbitration — a resolution as significant as changing the test itself because it affects the implied choices of the contracting parties, say attorneys at Squire Patton.

  • Post-Pandemic Litigation To Expect In England And Wales

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    Globally, we are already starting to see insolvency-related claims and a number of insurance, breach of ‎contract, employment and securities class actions across numerous sectors. These and other claims will likely increase for U.K. businesses, say Tracey Dovaston and Fiona Huntriss at Boies Schiller.

  • UK Lawyers Can Adapt Due Diligence To Screen New Clients

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    As COVID-19-related fraud gains pace, U.K.-based practitioners should help combat money laundering by using alternative methods to verify that new clients are who they say they are, says Christopher Convey, a barrister at 33 Chancery Lane and chair of the Bar Council's Money Laundering Working Group.

  • A UK Business View Of COVID-19's Economic Fallout

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    Covington attorneys Alex Leitch and Harry Denlegh-Maxwell provide a bird's-eye view of how U.K. businesses will navigate the legal and economic aftermath of the pandemic, including discussion of where litigation funding, class actions, insurance disputes and force majeure fit it.

  • Remote Depositions Bring Ethics Considerations For Lawyers

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    Utilizing virtual litigation technologies and participating in remote depositions require attorneys to beware of inadvertently violating their ethical obligations, including the principal duty to provide competent representation, say attorneys at Troutman Sanders.

  • Time For Presumptive Virtual Mediation In The UK

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    While the COVID-19 outbreak is a real-time test of the U.K. justice system’s adaptability and innovation, it is also an opportunity to deliver alternative dispute resolution through virtual technology — and there are two ways in which this could be achieved, says Suzanne Rab at Serle Court.

  • UK 'Property' Classification Boosts Confidence In Bitcoin

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    In AA v. Persons Unknown, the English High Court classified bitcoins as property that can be the subject of proprietary injunctions, indicating the slow but growing acceptance of virtual currencies within the U.K., say Steven De Lara and Colin Grech at Signature Litigation.

  • 3 EU And UK Data Protection Tips During COVID-19

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    Though EU and U.K. data protection laws should not impede the fight against COVID-19, companies must continue to protect individuals' data, and the challenges of managing a remote workforce and the desire for information about the virus’s impact have significant implications for that responsibility, say attorneys at Debevoise.

  • Novolex Case Brings Lessons On R&W Insurance

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    A New York state court dispute between Novolex and a few of its insurers concerning coverage under a representations and warranties policy for a $267 million loss offers a rare glimpse into how a court might interpret acquisition agreements and insurance policy provisions, say attorneys at Hunton.

  • How Proposed EU Class Action Directive Could Affect Insurers

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    Insurers should beware the explosive potential of the EU's proposed directive providing for cross-border class actions and third-party funding for such actions, although it also bears strict requirements that will limit the number of cases, say Emmanuèle Lutfalla and Simon Fitzpatrick at Signature Litigation.

  • COVID-19 Insurance Considerations For UK Cos.

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    Though a new U.K. regulation recently made it easier for businesses to claim losses related to COVID-19, potential points of contention when seeking insurance coverage include whether the government ordered the business to close and whether an outbreak occurred at the premises, say attorneys at Covington.

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