Insurance UK

  • August 21, 2024

    UK Fraud Fund Pays Out £9.8M To Norton Pension Members

    The pensions fraud compensation body said it has paid out £9.8 million ($12.8 million) to retirement savings plans sponsored by manufacturer Norton Motorcycles Holdings Ltd., after the company director was convicted of misappropriating funds.

  • August 21, 2024

    Broker SRG Eyes UK Rival Amid 2024 Shopping Spree

    Specialist Risk Group has said it hopes to make its fifth acquisition for 2024 after it offered to buy Anthony James Insurance Brokers Ltd., which it expects will boost its retail division across the U.K.

  • August 21, 2024

    Insurers Failing To Give Customers Good Value, FCA Warns

    The Financial Conduct Authority called on insurers and brokers on Wednesday to remedy failures to demonstrate that they offer fair value to customers with good outcomes.

  • August 20, 2024

    Insurers Deny Liability Over $790M Stranded Aircraft Claims

    Two insurers have argued they are not liable for paying out claims totaling more than $790 million over planes stranded in Russia, arguing the aircraft had not been "lost" to their lessors under the terms of the policies.

  • August 27, 2024

    Linklaters Taps White & Case For Finance Head In Sweden

    Linklaters LLP said Tuesday that it has recruited a leveraged finance expert from White & Case LLP to lead its banking practice in Sweden and to boost its support to clients including banks and private equity firms.

  • August 20, 2024

    Clifford Chance 'In Shock' Over Missing Partner

    Clifford Chance said Tuesday that it is "in shock and deeply saddened" that a partner is among six passengers missing from a yacht that was reportedly chartered to celebrate the legal victory of technology entrepreneur Mike Lynch.

  • August 20, 2024

    Marsh Launches $50M Insurance After Baltimore Bridge Crash

    Insurance broker Marsh said on Tuesday that it has launched a $50 million insurance product to guard against losses caused by blockages in shipping ports following the disruption caused by the collapse of the Francis Scott Key Bridge in Baltimore.

  • August 20, 2024

    FCA Move To Results-Based Regulation Could Hurt Firms

    The Financial Conduct Authority's planned move to an outcomes-based approach to regulation is raising concerns among lawyers that the resulting uncertainty could undermine companies in the sector and weaken the government's push for international competitiveness.

  • August 20, 2024

    Pinsent Masons-Led Broker AUB Acquires UK Movo Group

    AUB Group Ltd. has said that it has agreed to buy an 80% equity stake in U.K. insurer Movo Group, as the Australian broker bids to expand its operations in Britain.

  • August 20, 2024

    Gov't Launches Pension Credit Promo Before Fuel Benefit Cut

    The government launched a campaign on Tuesday to boost the number of people claiming pension credits, after it said that winter fuel allowances will be a means-tested benefit this year.

  • August 19, 2024

    Gov't Will Meet With Women State Pension Campaigners

    The U.K. pension minister will meet with women who are owed billions in compensation due to historic state pension failings, campaigners said.

  • August 19, 2024

    German Finance Watchdog Warns Of AI-Linked Discrimination

    Germany's financial watchdog has said it will take "decisive action" against the companies it supervises it they fail to stop illegal discrimination caused by artificial intelligence and machine learning.

  • August 19, 2024

    Gov't Targets Consolidation In First Phase Of Pension Review

    The Labour government has said that the first phase of its retirement savings review will be centered on the consolidation of the defined contribution pension market.

  • August 19, 2024

    RPC Helps Japanese Fintech Debut In London After Purchase

    Japanese crowdfunding platform MOH Nippon PLC was admitted to trading on the London Stock Exchange on Monday after being bought by a special purpose acquisition company for £34.5 million ($44.7 million).

  • August 19, 2024

    Pinsent Masons Steers Aviva's £34M Macmillan Pension Deal

    Aviva PLC has covered £33.7 million ($43.7 million) of pension liabilities for Macmillan Cancer Support, which covers the retirement savings plans of all the retirees and deferred members of the British charity.

  • August 16, 2024

    Stay Lifted On $110M Coal Co. Suit As Arbitration Drags On

    A Missouri federal judge has grudgingly lifted a pause on litigation between several insurance companies and a St. Louis coal producer after its mines sustained more than $115 million in fire damage, saying it can pursue claims against domestic insurers separately from insurers seeking arbitration.

  • August 16, 2024

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

    This past week in London has seen Barry Manilow sued by music rights company Hipgnosis, a struck-off immigration lawyer take on the Solicitor's Disciplinary Tribunal and the former CEO of a collapsed bridging loan firm start proceedings against the FCA. Here, Law360 looks at these and other new claims in the U.K.

  • August 16, 2024

    Pension Scheme Endgames Pushed Back Amid Falling Yields

    The average timeline for U.K. pension schemes to reach a point where they can buy out their liabilities with an insurance company was extended last month, due to falling bond yields, experts said.

  • August 16, 2024

    PwC Fined £15M For Failing To Flag LC&F Fraud Suspicion

    The Financial Conduct Authority said Friday it has fined PricewaterhouseCoopers LLP £15 million ($19.3 million) for failing to report to the regulator its belief that London Capital & Finance PLC might be involved in fraud.

  • August 16, 2024

    Revolut Valued At $45B After Secondary Equity Issue

    U.K. fintech Revolut said Friday it has secured a $45 billion valuation in a share sale by its employees to new and existing investors, cementing its status as Europe's most valuable private technology company.

  • August 16, 2024

    Pensions Body Offers Guide For Uncertainty Of Funding Code

    A trade body for the pensions sector has launched a guide on the implementation of a new funding code, amid disruption caused by the timing of the general election.

  • August 16, 2024

    FCA Apologizes For Treatment of 'Voluntary Requirement'

    Britain's financial watchdog has apologized for an unnecessary extension of two years of publishing on its register a "voluntary requirement" for a company indicating failure to meet standards after the Complaints Commissioner upheld a claim.

  • August 15, 2024

    Union Group Calls For UK To Address Gender Pension Gap

    The Trades Union Congress has said retired women receive £7,000 ($9,000) a year less from their pensions than retired men, a gender gap, it warns, that is closing far too slowly.

  • August 15, 2024

    Ashurst-Led HK Biz Buys Wind Farms From Aviva For £350M

    A consortium led by CKI has agreed to buy 32 U.K. onshore wind farms from the asset management arm of insurance giant Aviva PLC for £350 million ($450 million), as the global infrastructure business eyes an expansion into Europe of its sustainability portfolio.

  • August 15, 2024

    Gov't Urged To Unlock £16B LGPS Pensions For Investment

    The U.K. government could immediately unlock around £16 billion ($20.5 billion) of investment in U.K. infrastructure just by lifting thresholds on the asset class constraining the Local Government Pension Scheme, a report found.

Expert Analysis

  • 5 Cyber Insurance Pitfalls To Avoid In The UK

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    Faced with the opportunity to purchase cyber risk insurance to mitigate the damage caused by cyber events, prospective policyholder companies need all the help they can get in order to navigate this increasingly complex part of the U.K. insurance market, says Richard Mattick of Covington & Burling LLP.

  • UK Unexplained Wealth Orders: More Bark Than Bite So Far

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    This month, the U.K. National Crime Agency successfully resisted a challenge to its first unexplained wealth orders. This is a victory, but the agency has some way to go to show that UWOs will be a meaningful tool in the U.K.'s anti-money laundering arsenal, says Fred Saugman of WilmerHale.

  • GDPR Compliance Questions For Blockchain Firms

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    The General Data Protection Regulation applies to blockchain networks that directly store personal information. However, blockchain technology can make compliance challenging, and also raises questions regarding who bears responsibility for compliance, say attorneys at Covington & Burling LLP.

  • Knowledge Management: An Unsung Hero Of Legal Innovation

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    As technology evolves, law firms are increasingly looking for ways to improve communication, transparency and service for their clients. Firms should put knowledge management at the core of their value proposition to create a competitive advantage, says Rob MacAdam at HighQ.

  • Uncertainty Concerning The UK's Proper Purpose Rule?

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    The U.K. Supreme Court's judgment in Eclairs v. JKX seemingly opened the door for a broad interpretation of the proper purpose rule, but despite the confusion, the rule will continue to operate as a useful legal safeguard for shareholders, say Nick Hoffman and Conal Keane of Harney Westwood & Riegels LLP.

  • How Europe's AML Regime Is Tackling Virtual Currencies

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    The use and provision of virtual currency services have remained largely unregulated in the European Union, but its newest anti-money laundering directive could be the first step to tougher regulation, say Chris Warren-Smith and Paul Mesquitta of Morgan Lewis & Bockius LLP.

  • UK Ruling Signifies Greater Cross-Border Sharing Of Data

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    In KBR v. SFO, the U.K. High Court confirmed that the Serious Fraud Office can require foreign companies to produce documents held outside the U.K. as long as there is a sufficient connection between the company and the jurisdiction. This judgment will embolden other agencies with similar compulsory document production powers, says Andrew Smith of Corker Binning.

  • Why Law Firms Should Monitor The Dark Web

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    Dark web monitoring allows law firms to see what sensitive information may have made its way onto the thriving global underground marketplace where cybercriminals buy and sell exposed data. It can also help lawyers advise clients on a wide range of legal and business matters, say Anju Chopra and Brian Lapidus of Kroll.

  • Lessons From UK's Data Backlash

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    Tesco Bank and British Airways are the latest British icons to find themselves in legal difficulties regarding data breaches, exemplifying the breadth of breach-related risks beyond the established route of the Information Commissioner's Office, says Kim Roberts of King & Spalding LLP.

  • Tech, Media, Telecom Investor-State Arbitration Is On The Rise

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    Disputes between foreign investors from the technology, media and telecommunications sector and host states are a substantial feature of the investor-state claims landscape. The recent growth of investor-state arbitrations in this sector could be explained by several factors, says Florencia Villaggi of Herbert Smith Freehills LLP.

  • Treat GDPR Compliance As A Marriage, Not A Wedding

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    Earlier this year, many businesses were so focused on ensuring that their privacy notices and customer lists were compliant by May 25 that they forgot that General Data Protection Regulation D-Day was just the first day of a new regime, rather than a one-day event, say Ben Pilbrow and Joanna Boag-Thomson of Shepherd and Wedderburn LLP.

  • New UK And US Regimes May Deter Foreign Investment

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    Newly proposed U.K. rules and the amended regime for the Committee on Foreign Investment in the United States will radically change how the two governments review sensitive transactions, which will affect the likelihood of deal clearance, deal timing and the drafting of appropriate contractual provisions, say Robert Bell and Jennifer Mammen of Bryan Cave Leighton Paisner LLP.

  • UK Employees May Soon Gain The 'Right To Disconnect'

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    Several European countries have recently incorporated the "right to disconnect" from work into their domestic legislation. Currently, there is no equivalent law in the U.K., but as stress levels continue to rise, it is likely that U.K. legislators will follow suit, says Sarah King of Excello Law.

  • Q&A

    A Chat With Faegre Client Development Chief Melanie Green

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    In this monthly series, Amanda Brady of Major Lindsey & Africa interviews management from top law firms about the increasingly competitive business environment. Here we feature Melanie Green, chief client development officer at Faegre Baker Daniels LLP.

  • UK's Proposed Investment Scrutiny Powers Are Far-Reaching

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    The recently issued National Security and Investment White Paper proposes a significant expansion in the U.K. government's powers to scrutinize foreign investments. If the proposals are brought into force, the U.K. regime will be one of the most stringent in the world, say Douglas Lahnborg and Matthew Rose of Orrick Herrington & Sutcliffe LLP.

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