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Insurance UK
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September 05, 2024
'Act Now' On Dashboard Prep, Pensions Watchdog Warns
Pension scheme trustees should "act now" to be ready for the long-awaited government project designed to connect workers with lost pots and avoid enforcement action for failing to meet their duties, The Pensions Regulator warned Thursday.
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September 05, 2024
Gov't Consults On Plans For Pension Market Consolidation
The U.K. government is seeking feedback on the potential benefits and risks for pension savers and the economy if the pension market becomes more consolidated with larger schemes managing more assets.
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September 05, 2024
Surge In Pension Deal Demand Expected In 2nd Half Of 2024
There is likely to be a record number of transactions in the U.K. pensions market in 2024, according to a study published Thursday by accounting giant PwC, despite what many have described as a slower start to the year.
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September 05, 2024
FRC Warns Against Misuse Of Offsetting Financial Data
Companies that record a gain which nullifies the effect of its entry into their balance sheets — a practice known as offsetting — have caused "material errors" in their financial statements, Britain's accounting watchdog said Thursday.
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September 04, 2024
Pension Pot Needs For 'Basic' Retirement Rose 60% In 3 Years
Pensioners need 60% more retirement savings to meet basic costs compared to just three years ago, according to a think tank's research published Wednesday.
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September 04, 2024
Gov't Flood Plan Shortcomings Risk Coverage, Scheme Warns
Britain's state-backed flood reinsurance scheme warned Wednesday that a lack of transparency and consistency in the planning system around flood mitigation is threatening the insurance sector's ability to insure new properties against flooding risk.
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September 11, 2024
Hausfeld Snaps Up Litigation Pro From Covington In London
Hausfeld LLP has hired a partner from Covington & Burling LLP in London to boost its profile in commercial disputes, after its office in the U.K. capital recently underwent changes in leadership.
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September 04, 2024
Broker Clear Buys 4th Specialist Underwriter
Insurance broker Clear has acquired specialist underwriter Accelerate Underwriting for an undisclosed amount to grow its managing general agent capabilities.
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September 04, 2024
Grenfell Disaster Charges May Come In 2026, CPS Says
London's police force said Wednesday it expects to provide evidence of possible criminal wrongdoing over the deadly Grenfell Tower fire in 2017 to prosecutors in 2026, after a long-running public inquiry into the causes of the disaster published its final report.
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September 04, 2024
Cap On Push-Payment Fraud Payouts To Plummet To £85K
The payments watchdog said Wednesday that it plans to cut the cap on compulsory reimbursement by companies of authorized push payment fraud from £415,000 ($546,000) to £85,000.
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September 04, 2024
Sackers, HSF Guide £1.3B Coats UK Pension Insurance Deal
British textiles manufacturer Coats Group PLC said Wednesday that it has offloaded its retirement savings plan liabilities to Pension Insurance Corp. in a deal worth up to £1.3 billion ($1.7 billion), steered by Sacker & Partners LLP and Herbert Smith Freehills LLP.
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September 03, 2024
Vet Gets Suspended Sentence For Allianz Pet Insurance Fraud
A crown court handed a veterinary nurse from West Sussex a suspended sentence after she admitted to making over £13,000 ($17,000) worth of fraudulent insurance claims from Allianz subsidiaries for her pets using the systems at her workplace.
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September 03, 2024
Norton Rose Hires Insurance Pro From Eversheds Sutherland
Norton Rose Fulbright said Tuesday that it has hired an insurance specialist as a partner from Eversheds Sutherland to boost its strengths representing companies in the sector on corporate and regulatory matters.
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September 03, 2024
Pensions Reform Could Fuel £200K Savings Boost
The government could boost the long-term savings of workers by £217,000 ($285,000) per person by increasing minimum pension contributions, an insurer said, as the U.K. wrestles with the prospect of a retirement savings crisis.
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September 03, 2024
Nearly Half Of Employers Advertise Legal Rights As 'Perks'
Nearly half of U.K. employers promoted legal entitlements such as pensions and sick pay as perks in job advertisements in August, according to research published on Tuesday.
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September 03, 2024
Half Of Women Unsure They Will Have Enough For Retirement
More than half of women in Britain do not believe they will have enough money to support their income in retirement, findings by an investment management company suggest, amid concerns over the gender pension gap.
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September 03, 2024
Pay To Play: The 2-Tier Legal Route For Crypto-Fraud Victims
More people are falling victim to cryptocurrency scams, but their options for recovering money are few and expensive, which creates a two-tier approach — one for those who have the means to pay lawyers and consultants and another for those who don't.
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September 02, 2024
SRA Rebukes Solicitor For Trading Without Insurance
The Solicitors Regulation Authority said Monday that it has rebuked a lawyer for operating without professional indemnity insurance and had failed to close his firm before the expiration of run-off cover.
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September 02, 2024
Greensill, Gupta Deny Conspiracy In Zurich Insurance Row
Financier Lex Greensill and steel magnate Sanjeev Gupta have denied conspiring to deceive underwriters at insurance giant Zurich over allegedly fake debts, amid a $400 million court battle in London over trade credit insurance.
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September 02, 2024
UK Underwriter Dual Buys Specialist Travel Insurance Co.
Underwriter Dual UK said Monday that it has acquired International Passenger Protection, a managing general agency, as it plots further expansion into the travel insurance sector.
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September 02, 2024
EU Asset Managers Seek Strong Governance On Data Feeds
A trade body for European asset managers called on Monday for strong governance of providers of consolidated tapes, which set out prices and volumes of shares and bonds in bloc-wide feeds for investors.
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September 02, 2024
National Grid Pension Plan Outsources Executive Services
The trustee of the National Grid UK Pension Scheme has outsourced several executive services to consultancy Lane Clark & Peacock LLP in a move designed to provide flexibility for the retirement savings plan of the electric power transmission network as it matures.
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August 30, 2024
UK Litigation Roundup: Here's What You Missed In London
This past week in London has seen television property developer Kambiz Babaee hit with a fraud claim, a Bitcoin podcaster reignite a dispute with Australian computer scientist Craig Wright and football club owner Massimo Cellino's company file a claim against ClearBank. Here, Law360 looks at these and other new claims in the U.K.
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August 30, 2024
Ireland Urged To Step In Over Insurance Reform 'Profiteering'
Insurance companies in Ireland have been accused of "profiteering" from personal injury reforms rather than passing savings on to customers in the form of lower premiums.
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August 30, 2024
Record Numbers With Pet Insurance In 2023, ABI Says
Some 4.4 million pet owners in Britain took out insurance to protect their animals in 2023 in an all-time high for the sector, according to the latest figures from the Association of British Insurers.
Expert Analysis
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What To Expect During The Brexit Transition Period
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.
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Opinion
Legal Prediction Is Demanding But Not Impossible
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.
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Surefire Marketing Methods To Build Your Legal Practice
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.
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Mandatory Mediation May Lie Ahead For England And Wales
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.
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Key Risks And Developments For UK Law Firm Culture In 2020
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.
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Cos. Can Start Preparing Now For Immigration Beyond Brexit
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.
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#MeToo Pressure On UK Businesses Is Set To Rise
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.
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Opinion
UK's Insurer Investigations May Not Help Policyholders
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.
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The Outlook For Autonomous Vehicles In The UK And US
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.
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Brexit's Impact On London As A Top Int'l Arbitration Seat
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.
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Post-Brexit UK Likely To Conform With EU On Human Rights
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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The Evolution Of GDPR Enforcement Across The EU
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.
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Series
Why I Became A Lawyer: Being There For Families In Trouble
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.
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3 Ways To Leverage Vulnerability For Lawyer Well-Being
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.
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Zurich Case Brings Clarity To Complex Contempt Proceedings
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.