Insurance UK

Surface of polluted water reflecting sunlight with a leaf.

'Forever Chemicals' Pollution Claims Seeping Into UK Courts

Litigation over widely used "forever chemicals" that has led to big payouts in the U.S. could become a source of significant exposure for insurers and their policyholders in the U.K. following a recent settlement.

View of the wheels of a row of cars lined up.

Senior Managers At Risk In FCA's £8B Motor Finance Plan

The Financial Conduct Authority's proposed £8.2 billion ($11 billion) car finance redress scheme would force senior managers of lenders to put their heads on the block by attesting that they have adequate systems to identify customers for compensation, with wrong decisions risking enforcement action by the regulator, lawyers have warned.

FCA's Crypto Rules Risk Abuse Without Tailored Safeguards

The proposed U.K. crypto-asset regime risks abuse because it tries to clamp traditional finance rules on to a digital asset class, leaving gaps which expose unwary investors to criminals unless new safeguards are added, legal experts have warned.

UK Faces Pensions Crisis As Millions Risk Retirement Penury

Britain will have to radically rethink what retirement means, amid a growing number of warning signs that millions of savers will have to work longer and retire with less income than their parents, unless the government intervenes, pension experts have warned.

October 15, 2025
Reinsurers Deny Liability To Chubb Over Bill For Aircraft Loss

Reinsurers including AIG and AXA have denied liability for Chubb's $5.7 million bill to aircraft lessors for losses caused by Russia's invasion of Ukraine, saying Chubb's losses were not caused by any failure by the reinsurers to indemnify the lessors.
October 15, 2025
Pension Run-On Could Generate Millions For UK Businesses

Businesses could see a multimillion-pound boost from allowing their pension schemes to continue generating investment returns rather than rushing into offloading liabilities to an insurer, a consultancy said Wednesday.
October 15, 2025
London Insurers Push For Growth-Friendly Regulation

Lawmakers and policy officials must regularly review how Britain's regulators are fulfilling their competitiveness objective to make good on their growth mandates, a trade body for the insurance sector said.
October 15, 2025
FSCS To Protect 16,000 Policyholders After Insurer Fails

The Financial Services Compensation Scheme said it will step in to protect 16,000 U.K. policyholders and small business owners, after Gibraltar-based Premier Insurance Company Ltd. collapsed.
October 15, 2025
Insurance Broker Specialist Risk Adds Rival's Wholesale Team

Specialist Risk Group has boosted its operations in London by acquiring a wholesale team from rival Lockton as the insurance intermediary seeks to strengthen relationships with retail brokers and expand its services.
October 15, 2025
Capita Fined £14M For Cyber-Failures In Pensions Breach

The data watchdog said on Wednesday that it has fined outsourcing company Capita £14 million ($18.7 million) for failures in holding personal data security during a cyberattack in 2023 in which the information of 6.6 million people was stolen.
October 14, 2025
FCA Sets Out Digitalization Plans For Asset Managers

The Financial Conduct Authority proposed new rules on Tuesday to help asset managers trade funds as digital assets, with the aim of increasing innovation and global competitiveness.
October 14, 2025
UK Eyes Widening Access To Local Gov't Pension

Policymakers have proposed widening access to the Local Government Pension Scheme for councilors and mayors in England in a move that would align the country with others in Britain.
October 14, 2025
Most DB Pension Funds To Shun UK Growth Assets This Year

Pension bosses in the £1.4 trillion ($1.8 trillion) defined benefit pension sector are unlikely to put money into U.K. growth assets over the next year, a survey found Tuesday, despite government efforts to galvanize parts of the industry into domestic investment.
October 14, 2025
Insurers Likely To Face Up To $600M Bill From First Brands

Trade credit insurers are likely to have to see claims capped at $600 million for the collapse of U.S. auto parts supplier First Brands, a ratings agency said.
October 14, 2025
Oakley Capital Invests £10M In Health Insurance Provider

Oakley Capital Investments Ltd. said Tuesday its platform is investing in Italian private healthcare insurance provider ONHC. OCI's share of Oakley Capital's investment in ONHC is anticipated to be around £10 million ($13.3 million).
October 14, 2025
Sharp Rise In 'Nationally Significant' UK Cyberattacks

Britian's cybersecurity agency said Tuesday that it has handled an average of four "nationally significant" cyberattacks every week in the last year, more than double the number in the previous 12 months.
October 14, 2025
Malibu Life To Buy Texan Life Insurer TruSpire For $45M

Malibu Life Holdings Ltd. said Tuesday that it will buy life and retirement insurance business TruSpire from Mutual of America Life Insurance Co. for $45 million to enter the U.S. direct annuity issuance business.
October 13, 2025
Pensions Watchdog Warns Small Schemes Over New Law

The U.K.'s pensions watchdog said Monday that smaller schemes aren't doing enough to prepare for new rules requiring them to offer ready-made retirement options to savers.
October 13, 2025
'Simple' Flood Defence Measures Could Save UK £740M A Year

Simple and affordable flood resilience measures could save the U.K. up to £740 million ($987 million) a year, Britain's government state-backed flood reinsurance program said Monday, calling on insurers and policymakers to work towards better home protection.
October 13, 2025
FSB Warns G20 Of High-Risk Delays In Financial Reform

The chairman of an international standards setter warned policymakers from the Group of 20 economic forum on Monday that countries are failing to finish financial reforms on time, risking global shocks.
October 13, 2025
Gov't Will Be Forced To Answer Calls For 'Pension Tax Lock'

The government must now respond formally to calls for a "pension tax lock," an investment manager said Monday, after more than 14,000 people signed a petition to Parliament.
October 13, 2025
Pensions Body Renews Qualifications To Boost UK Standards

The Pensions Management Institute said on Monday it has revamped its qualifications package to drive up industry standards in what it called an increasingly complex retirement savings landscape.
October 13, 2025
FCA Working With Global Tech Biz For Open Finance Testing

The City watchdog said Monday that it has entered into a partnership with global technology company Raidiam to accelerate open finance in a move to expand the sharing of client data across financial products.
October 10, 2025
UK Litigation Roundup: Here's What You Missed In London

This past week in London has seen Paddington Bear's creators and Studio Canal sue the company behind Spitting Image, Blackpool Football Club's former owner Owen Oyston bring a fresh claim against the club, and Mishcon de Reya sue a Saudi investment group.
October 10, 2025
Kennedys' Rekha Cooke On The FCA Senior Managers Regime

Rekha Cooke, a partner at Kennedys, talks about the Financial Conduct Authority's reforms of the senior managers regime, telling Law360 that businesses should treat the reforms as a reason to strengthen their internal controls.
October 10, 2025
FCA Pension Support Plan Could Boost Mutual Insurers

Proposals by the Financial Conduct Authority to allow businesses to offer "targeted support" to groups of similar customers could help mutual insurers better steer their members toward improved long-term savings, Broadstone has said.
October 10, 2025
Standards Setter FSB Issues Warning On AI Monitoring Gaps

National regulators must improve their monitoring of the adoption of artificial intelligence in the financial sector, a global standards setter urged on Friday, as unchecked exposure to the technology might expose critical vulnerabilities.
October 10, 2025
Munich Re Unit Wins Approval For German Insurance Market

Munich Re Specialty said Friday it has gained regulatory approval to offer insurance products to businesses in Germany's primary specialist insurance market.
October 10, 2025
Pensions Body Urges Wider Ethnicity Pay Reporting Mandate

A U.K. government proposal to mandate reporting on ethnicity pay gaps at larger companies must go further to include smaller businesses, a trade body for the pensions sector has said.

Editor's Picks

Top Court Ruling In 'Whiplash' Test Case Could Hit Premiums

Personal injury claimants could get higher payouts from their motor insurance as a result of a test case ruling at Britain's highest court on Tuesday, although analysts warn that insurers could respond with higher premiums to cover the cost of bigger claims.
FCA Begins Crackdown On Poor-Value Insurance Products

The move by the Financial Conduct Authority to restrict sales of guaranteed asset protection insurance is a sign of a faster approach to market intervention, and could lead the regulator to scrutinize other underperforming products, consultants say.
Post-Election UK Pension Changes Could Be In The Fine Print

Regulatory lawyers are not expecting radical overhaul in pension policies if the government changes after this year's general election. But lawyers say that signals in the opposition Labour Party's policy language could hint at possible shifts in investment priorities for retirement savings.

Expert Analysis

What EBA Report Means For Non-EU Financial Firms

In a recent report concerning unregulated third country banks, the European Banking Authority decided not to extend a bank-to-bank exemption under the Capital Requirements Directive, raising a number of compliance issues for cross-border services, say lawyers at A&O Shearman.
What To Note From FCA, Gov't Financial Growth Proposals

Recent Financial Conduct Authority and government proposals for financial services reform are positive developments for firms, signaling a drive to push forward growth and a willingness to be flexible in areas of regulation that the industry has long raised as barriers, say lawyers at Simmons & Simmons.
FCA Misconduct Guide Will Expand Firms' Duty To Investigate

The Financial Conduct Authority's recent proposals on workplace nonfinancial misconduct will place a greater onus on compliance and investigations teams, clarifying that the question to ascertain is whether the behavior is justifiable and proportionate, say lawyers at Ashurst.
Mansion House Speech Heralds New Financial Regulatory Era

The chancellor of the exchequer's recent Mansion House speech introduced a sweeping commitment to modernize regulation, which will require U.K. retail banks and building societies to revisit core assumptions, and allow lawyers to play a key role in shaping the new rules, say lawyers at Addleshaw Goddard.
Key Points From EU Proposals To Ease Securitization Rules

The European Commission’s recently proposed securitization framework amendments aim to relax existing rules, such as by reducing due diligence requirements and removing the need for investors to conduct certain prescribed compliance verifications by sponsors or original lenders, say lawyers at McDermott.
What To Expect As FCA Preps To Launch AI Testing Service

The Financial Conduct Authority’s forthcoming artificial intelligence live testing service will provide participants with access to appropriate regulatory expertise, but to gauge the tool’s potential utility, it is important to understand how it fits in with what the regulator is already doing, says Omar Salem at Fox Williams.
EU Banking Watchdog Regulations Herald New AML Era

The European Banking Authority’s forthcoming anti-money laundering package will set a framework for compliance across the European Union by redefining the rules of engagement between financial institutions and supervisors, setting a new standard for transparency and accountability, say lawyers at A&O Shearman.
What To Expect As UK, US Gov'ts Develop Stablecoin Policies

While the U.K. and U.S. governments’ policies both suggest that fiat-backed stablecoins can improve efficiency and safety in payments systems, a perception that crypto-assets remain high risk means consumers are unlikely to use them in significant volume anytime soon, say lawyers at Cadwalader.
What Insurers Can Do To Prepare For PRA 'Solvent Exit' Rules

With less than a year until the Prudential Regulation Authority's new solvent exit rules for insurers come into force, it is critical that firms prepare to meet the imminent deadline by outlining an execution plan and establishing clear governance arrangements, say lawyers at Holman Fenwick.
How Regulators Want Online Platforms To Fight Finance Fraud

Recent statements from the International Organization of Securities Commissions and the European Securities and Markets Authority make clear that online platform providers are expected to adopt proactive measures to prevent the promotion of unauthorized financial services and related misconduct, say lawyers at Taylor Wessing.
FCA Notes Industry Criticism But Keeps Transparency Focus

The Financial Conduct Authority’s recently updated enforcement guide finally gives up the "naming and shaming" public interest test, demonstrating that the regulator has recognized the industry's serious concerns while maintaining less contentious aspects of its proposals to improve transparency in investigations, say lawyers at Irwin Mitchell.
Court Backing Of FCA Pensions Ruling Sends Key Message

The Upper Tribunal’s recent upholding of the Financial Conduct Authority's decisions against CFP Management directors serves as a judicial endorsement of the regulator’s approach to defined benefit transfers, underscoring that where the advisory model is fundamentally flawed, the consequences for those in control can be severe, say lawyers at RPC.
Pension Schemes Bill's Most Notable, Controversial Measures

The long-awaited Pension Schemes Bill recently introduced to Parliament creates a framework for harnessing money saved in U.K. workplace pension funds to grow the country’s economy, but provisions relating to local government pension scheme investment, and scale and asset allocation, are controversial, says Claire Dimmock at Squire Patton.
Decoding Arbitral Disputes: Prestige's Jurisprudential Legacy

The U.K. Supreme Court's recent denial of appeal ended Spain's decades-long quest to enforce an €855 million arbitral judgment against a London insurer, throwing into stark relief the increasingly complex relationship between arbitral sovereignty, foreign state immunity and the shifting terrain of post-Brexit private international law, says Josep Galvez at 4-5 Gray's Inn.
UK Securities Tax Reform Will Be Welcomed By Investors

The proposed reforms resulting from HM Revenue & Customs' recent consultation on modernizing stamp taxes on shares, suggesting a single digital tax on securities to replace stamp duty and stamp duty reserve tax, are expected to reduce complexity for investors transacting in U.K. securities, say lawyers at Ropes & Gray.