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Insurance UK
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
Expert Analysis
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UK Group Data Breach Claims Pose Big Financial Risks
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.
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A Crucial Chance For UK Supreme Court To Clarify Arbitrator Bias
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.
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Rebuttal
Legal Industry Should Pursue AI Prediction Progress
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.
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Rebuttal
AI Can't Accurately Predict Case Length And Cost — Yet
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.
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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.