Insurance UK

  • July 29, 2024

    BMS To Acquire Rival UK Insurance Broker From PE Biz

    Independent insurance and reinsurance broker BMS Group said Monday that it is set to purchase David Roberts & Partners Insurance Brokers Ltd. from Inflexion Private Equity Partners LLP.

  • July 26, 2024

    Virgin Loses Court Battle To Keep Pension Plan Changes

    An appeals court has ruled that regulations on contracted-out retirement savings plans require written confirmation from a scheme's actuary for changes affecting beneficiaries' future rights, not just past benefits, rejecting Virgin Media's challenge to a decision voiding decades-old changes to one of its pensions.

  • July 26, 2024

    Ellex-Led ERGO To Buy €80M Baltic Biz Of European Insurer

    European insurance heavyweight ERGO Group has agreed to acquire Norwegian nonlife insurer Gjensidige Forsikring ASA's Lithuania-based subsidiary ADB Gjensidige for €80 million ($87 million).

  • July 26, 2024

    FCA To Overhaul Prospectus Rules To Boost Capital Markets

    The Financial Conduct Authority set out plans to shake up the U.K.'s prospectus regime Friday, including new rules for public offers and risk disclosures, to help boost the country's ailing capital markets.

  • July 26, 2024

    EU Banks Must Improve Cyberattack Protection, ECB Says

    Lenders in the eurozone still suffer from "shortcomings" in fighting against and recovering from a severe — but plausible — cyberattack, the European Central Bank said Friday after it conducted a resilience stress test.

  • July 26, 2024

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

    This past week in London has seen U.K. band The 1975 face action by Future Sound Asia after its performance in Malaysia resulted in a festival's cancelation, Spectrum Insurance hit by The Motoring Organization following their dispute over information misuse, and a former police constable pursue defamation against a colleague for allegedly instigating a campaign of harassment against her. Here, Law360 looks at these and other new claims in the U.K.

  • July 26, 2024

    Fraudster Sentenced For Instagram Motor Insurance Scam

    A man who made almost £18,000 by operating as a "ghost broker" and selling invalid car insurance policies on Instagram has been handed a suspended prison sentence of 24 months at a London court, City Police has said.

  • July 25, 2024

    Insurer Can't Link Secrets Suit To $47M Claim, Ex-Worker Says

    A former worker for British insurance company Beazley urged a Florida federal court Thursday to toss claims alleging trade secrets theft, saying the company's suit doesn't show how he supposedly caused it to incur $47 million in damages from an arbitration case over a Brazilian thermoelectric plant.

  • July 25, 2024

    Audit Watchdog Sanctioned Firms £48M Last Year

    The Financial Reporting Council revealed Thursday that it fined firms a total of £48.2 million ($62 million) in the financial year ended March 31, including a £21 million fine against auditor KPMG related to its accounting for construction giant Carillion prior to its collapse in 2018.

  • July 25, 2024

    Insurance Trade Bodies Launch Sustainability Data Standard

    Two insurance trade bodies have released a resource designed to standardize the way underwriters ask clients about their sustainability data to address fragmented approaches across the industry.

  • July 25, 2024

    ITV Gets Regulatory Nod On Box Clever Pension Resolution

    The Pensions Regulator said Thursday that it has inked a preliminary agreement with British broadcaster ITV to provide full pension benefits to members of the Box Clever retirement savings plan after a lengthy legal tussle.

  • July 25, 2024

    Labour Gov't Faces 'Tricky Balancing Act' On Policy Priorities

    The Labour government faces a "tricky balancing act" in implementing policies that meet the financial needs of different generations, pensions provider Aegon said Thursday,

  • July 25, 2024

    Freeholders Face Homeowners' Action Over Insurance Fees

    Freehold owners are facing a class action from leasehold homeowners for allegedly charging hidden commissions on building insurance premiums for years, the law firm bringing the claim has said.

  • July 25, 2024

    FCA Consumer Duty Deadline May Spark Clash With UK Gov't

    The new Labour government and the Financial Conduct Authority could be heading for a clash over what constitutes a vulnerable consumer and how the laws protecting them from abuse should be enforced.

  • July 24, 2024

    EU Trade Body Warns Against FCA Enforcement Plans

    A trade body for European financial firms has warned that the Financial Conduct Authority's proposed naming of companies in enforcement investigations would make the U.K. an international outlier, damaging competitiveness.

  • July 24, 2024

    Parsley Producer Sues Broker For £1.3M Over Fire Damage

    A herbs and spice producer has sued an insurance broker for nearly £1.3 million ($1.7 million) for allegedly failing to organize sufficient cover that left it short when a fire broke out at its farm.

  • July 24, 2024

    Russia Sanctions Enforcement Lacks Bite, UK Charity Says

    Britain must develop a clearer sanctions enforcement strategy, an anti-corruption charity said on Wednesday, as it revealed that the government has issued no fines for breaches of rules since Russia invaded Ukraine in February 2022, more than two years ago.

  • July 24, 2024

    UK Insurer Warns Over Collisions With Russian 'Shadow Fleet'

    A marine insurer has warned that sanctions imposed on the Kremlin because of its invasion of Ukraine might prevent it from paying claims over collisions involving vessels insured by Russian rival IPJSC Ingosstrakh.

  • July 24, 2024

    Watchdog Steps In Over Misleading Health Insurance Adverts

    The advertising regulator said Wednesday that it has upheld complaints against two ad campaigns run by a nonprofit mutual insurance company on radio and TV, which it found to be misleading.

  • July 24, 2024

    British Steel Pension Redress Scheme Pays Out £8.7M

    The Financial Conduct Authority said Wednesday that its redress program for steelworkers given poor pensions advice has paid out a total of just £8.7 million ($11.2 million) in compensation.

  • July 24, 2024

    Can New Pensions Minister 'Serve Two Masters'?

    A new British pensions minister with a foot in two competing government departments could help create a more coherent pensions reforms, although some analysts warn of a potential Treasury takeover of pensions policy to prioritize economic stimulus.

  • July 23, 2024

    EU Urged To Give Finance Watchdogs More Powers

    A financial trade body on Tuesday called on European Union legislators to give regulators the power to modernize financial markets and make them more globally competitive.

  • July 23, 2024

    Consumer Group Calls For Crackdown On Insurance Practices

    The consumer group Which? called Tuesday for a crackdown by regulators after finding that half of insurance customers report a bad experience trying to claim on their policies.

  • July 23, 2024

    Employees Fight 'Harsh' Penalty In Bad Faith Resignation Test

    Three former employees of asset recovery companies urged Britain's top court on Tuesday to reconsider the "harsh" remedy against people who quit their jobs to pursue business opportunities said to belong to their employers, a case with potentially wide implications for "bad faith resignations."

  • July 30, 2024

    Bird & Bird Hires 2 Ex-Hogan Lovells Finance Pros In Milan

    Bird & Bird LLP has recruited two senior finance partners as part of a team of seven lawyers moving from Hogan Lovells in Milan, boosting growth in the firm's international finance and financial regulation practice.

Expert Analysis

  • What Cos. Should Know About The EU Greenwashing Rules

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    The EU's recently proposed Green Claims Directive introduces new rules to improve the transparency and honesty of environmental claims in advertising, which will help ensure that consumers receive accurate and reliable information to make informed purchasing decisions, says Daja Apetz-Dreier at Morgan Lewis.

  • The Art Of Corporate Apologies: Crafting An Effective Strategy

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    Public relations challenges often stop companies from apologizing amid alleged wrongdoing, but a recent U.K. government consultation seeks to make this easier, highlighting the importance of corporate apologies and measures to help companies balance the benefits against the potential legal ramifications, says Dina Hudson at Byfield Consultancy.

  • Dissecting Recent Developments Against The Misuse Of NDAs

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    The U.K. government's recent plans to nullify nondisclosure agreements that prevent victims from reporting crimes should remind lawyers to proactively consider the necessity of such agreements, especially in light of the Solicitors Regulation Authority's warning notice on drafting improper NDAs, say Clare Davis and Macaela Joyes at RPC.

  • What To Know About The Russia-Stranded Plane Ruling

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    The High Court's recent decision in Zephyrus Capital Aviation v. Fidelis Underwriting, rejecting reinsurers' U.K. jurisdiction challenges in claims over stranded planes in Russia, has broad implications for cross-border litigation involving exclusive jurisdiction clauses, says Samantha Zaozirny at Browne Jacobson.

  • 3 Notable Pensions Reforms In Spring Budget

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    The U.K. government’s spring budget introduced reforms to improve pension outcomes through the value for money framework and the lifetime provider model, as well as to encourage investments in Britain — three interlinked areas that could pressure trustees and providers to rethink how they approach investments, say Liz Ramsaran and Marcus Fink at DWF.

  • UK Arbitration Ruling Offers Tips On Quelling Bias Concerns

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    An English court's recent decision in H1 v. W to remove an arbitrator because of impartiality concerns offers several lessons on mitigating bias, including striking a balance between arbitration experience and knowledge of a particular industry, and highlights the importance of careful arbitrator appointment, says Paul-Raphael Shehadeh at Duane Morris.

  • Bias Ruling Offers Guidance On Disqualifying Arbitrators

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    An English court's recent decision in H1 v. W, removing an arbitrator due to bias concerns, reaffirms practical considerations when assessing an arbitrator's impartiality, and highlights how ill-chosen language by an arbitrator can clear the high bar for disqualification, say Andrew Connelly and Ian Meredith at K&L Gates.

  • Insurance Policy Takeaways From UK Lockdown Loss Ruling

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    An English court's recent decision in Unipolsai v. Covea, determining that insurers' losses from COVID-19 lockdowns were covered by reinsurance, highlights key issues on insurance policy wordings, including how to define a "catastrophe" in the context of the pandemic, says Daniel Healy at Brown Rudnick.

  • What COVID Payout Ruling Means For Lockdown Loss Claims

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    While the High Court's recent COVID-19 payout decision in Gatwick v. Liberty Mutual, holding that pandemic-related regulations trigger prevention of access clauses, will likely lead to insurers accepting more business interruption claims, there are still evidentiary challenges and issues regarding policy limits and furlough, say Josianne El Antoury and Greg Lascelles at Covington.

  • Spartan Arbitration Tactics Against Well-Funded Opponents

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    Like the ancient Spartans who held off a numerically superior Persian army at the Battle of Thermopylae, trial attorneys and clients faced with arbitration against an opponent with a bigger war chest can take a strategic approach to create a pass to victory, say Kostas Katsiris and Benjamin Argyle at Venable.

  • Top Court Hire Car Ruling Affects 3rd-Party Negligence Cases

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    The U.K. Supreme Court's recent decision in Armstead v. Royal & Sun Alliance, finding that an insurer was responsible for lost car rental income after an accident, has significant implications for arguing economic loss and determining burden of proof in third-party negligence cases that trigger contractual liabilities, say lawyers at Macfarlanes.

  • Unpacking The Building Safety Act's Industry Overhaul

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    Recent updates to the Building Safety Act introduce a new principal designer role and longer limitation periods for defects claims, ushering in new compliance challenges for construction industry stakeholders to navigate, as well as a need to affirm that their insurance arrangements provide adequate protection, say Zoe Eastell and Zack Gould-Wilson at RPC.

  • A Rare Look At Judicial Interpretation Of LEG Exclusions

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    A Florida federal court’s order last month in Archer Western-De Moya v. Ace American Insurance and an earlier decision from a D.C. federal court offer insight into how courts may interpret defects exclusion clauses developed by the London Engineering Group — filling a void in case law in the area, says Jonathan Bruce at Holman Fenwick.

  • Ruling In FCA Case Offers Tips On Flexible Work Requests

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    In Wilson v. Financial Conduct Authority, the Employment Tribunal recently found that the regulator's rejection of a remote work request was justified, highlighting for employers factors that affect flexible work request outcomes, while emphasizing that individual inquiries should be considered on the specific facts, say Frances Rollin, Ella Tunnell and Kerry Garcia at Stevens & Bolton.

  • Breaking Down The New UK Pension Funding Regs

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    Recently published U.K. pension regulations, proposing major changes to funding and investing in defined benefit pension schemes, raise implementation considerations for trustees, including the importance of the employer covenant, say Charles Magoffin and Elizabeth Bullock at Freshfields.

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