Insurance UK

  • November 07, 2024

    Rainforest Investment Bosses Appeal £37M Fraud Convictions

    Two directors of an ethical-investment scheme imprisoned for defrauding investors out of £37 million ($48 million) sought to overturn their convictions at a London appeals court Thursday, arguing jurors were not told what the goal of the conspiracy was.

  • November 07, 2024

    Gowling Steers £70M Building Society Pension Deal

    A building society has offloaded £70 million ($91 million) of its staff pension liabilities to insurer Canada Life, advisers said Thursday, in a deal steered by Gowling WLG.

  • November 07, 2024

    EU Proposes Tougher Fossil Fuel Risk Buffer For Insurers

    The European Insurance and Occupational Pensions Authority said on Thursday that it proposes that insurers should face higher capital requirements for holding fossil fuel assets — days after the European Commission approved changes to insurance capital rules.

  • November 07, 2024

    FCA Warns Firms On Inaccurate Transaction Reporting

    The Financial Conduct Authority warned on Thursday that some regulated companies are reporting their transactions inaccurately — even after they have taken remedial measures.

  • November 07, 2024

    Eversheds, HSF Guide £190M Pension Deal For Insurer

    Pension Insurance Corp. PLC said Thursday that it has taken on £190 million ($245 million) of retirement savings liabilities from a scheme sponsored by a trade credit insurer in a deal guided by Eversheds Sutherland and Herbert Smith Freehills LLP.

  • November 06, 2024

    Hedge Fund Lawyer Defends Signing Off On £1.4B Fraud Docs

    The former top lawyer at a hedge fund accused of defrauding Denmark's tax authority of £1.4 billion ($1.8 billion), who signed off on documents falsely confirming the trades were legitimate, told a London trial he didn't think it "was a big deal at the time."

  • November 06, 2024

    Lawyer Fails To Overturn Striking Off For Fake Whiplash Claim

    A solicitor who made a false insurance claim over a road traffic accident failed in his bid to be restored to the profession, after a London judge found Wednesday that a lesser punishment would not be proportionate to the wrongdoing.

  • November 06, 2024

    Rachel Reeves Calls Budget A 'Once In A Parliament' Reset   

    Chancellor Rachel Reeves told lawmakers on Wednesday that her inaugural budget in October was a "once in a Parliament" reset and that her government would not set out fiscal proposals of a similar scale again.

  • November 06, 2024

    Motor Finance Ruling Could Spread To Insurance, RBC Warns

    A landmark U.K. court ruling on motor finance could have wider implications for the insurance sector, an investment bank warned.

  • November 06, 2024

    Carlyle-Backed Insurance Consolidator Enters French Market

    PIB Group said Wednesday that it has bought a French medical malpractice insurance business, BEA Group — the latest in a string of purchases disclosed by the acquisition vehicle as it expands across Europe.

  • November 06, 2024

    Gov't Advice Kick-Starts Race To Comply With UK Fraud Law

    The largest companies in Britain have 10 months to install safeguards to prevent employees from committing fraud after the government published guidance Wednesday on a sweeping new offense that would hold businesses criminally responsible for profiting from fraud.

  • November 06, 2024

    EU Investors Body Targets Murky Pension Costs

    A European advocacy group called Wednesday for stricter regulation to enforce transparency in fee disclosures and performance reporting, so savers can accurately assess the costs of different pension products.

  • November 12, 2024

    DWF Hires 2 Barristers For In-House Chambers

    DWF LLP has taken on two senior barristers for its in-house set of chambers to boost its services in areas such as personal injury and civil fraud.

  • November 05, 2024

    Forbes Loses TM For Some Financial Services In Europe

    U.S. media company Forbes has partially lost a trademark over its name as European officials ruled that consumers might believe it was linked to investment firm Alexander Forbes.

  • November 05, 2024

    Greensill Bank Says Marsh Can't Dodge Australian Litigation

    Greensill Bank AG has said that it should be allowed to add Marsh to litigation in Australia linked to the wider group's collapse, arguing in a court filing that it is not bound by an English jurisdiction clause in its contract with the insurance broker.

  • November 05, 2024

    FCA Sets Out Final Rules To Simplify Bond Trade Reporting

    The Financial Conduct Authority set out on Tuesday final rules for publishing data on pricing and volume in bonds and derivatives more efficiently, with separate proposals to give asset managers greater flexibility on how to pay for investment research.

  • November 05, 2024

    European Union Overhauls Insurance Capital Regime

    The European Union said Tuesday it has signed off on its long-awaited overhaul of capital adequacy rules for insurers, which it said will likely boost economic investment and make the sector more resilient.

  • November 05, 2024

    Pensions Giant Joins £54M Gov't Housebuilding Partnership

    Pension Insurance Corp. has entered into a £54 million ($70 million) joint venture with a national developer and a government housing agency to build 3,000 low-carbon, affordable rental homes across England.

  • November 05, 2024

    FCA Charges Businesses Over Unauthorized Operations

    The Financial Conduct Authority said Tuesday that it has charged three individuals involved in two commercial retailers that allegedly generated at least £4 million ($5.2 million) from unlawful business that involved thousands of consumers.

  • November 04, 2024

    Shipowner Loses Appeal To Cut Claim Over Damaged Cargo

    A London appeals court has rejected a shipowner's argument that an agricultural company overstated a claim for damaged cargo against it by wrongly asking for more than $280,000 that had already been recovered, finding instead that the money was paid under a separate contract.

  • November 04, 2024

    Aon Buys UK Broker Griffiths & Armour

    London-headquartered professional services firm Aon PLC said Monday that it has agreed to acquire British insurance broker Griffiths & Armour to further expand its presence in the U.K. and Ireland.

  • November 04, 2024

    Litigation-Funding Report Signals Overhaul Of Sector

    A government advisory body has indicated that it is weighing whether it is time to regulate litigation-funding and cap fees, as the industry has exploded and potentially contributed to the collapse of a law firm specializing in consumer claims.

  • November 04, 2024

    Hedge Fund Lawyer Denies Role In £1.4B Cum-Ex Fraud

    The former top lawyer at a hedge fund accused of defrauding Denmark's tax authority of £1.4 billion ($1.8 billion) told a London trial Monday he had no knowledge of cum-ex trading fraud at the business.

  • November 04, 2024

    FCA Warns SIPP CEOs On Handling Pensions Money

    The financial watchdog has written to the chief executives of self-invested personal pension operators, warning them in a letter published Monday that it has growing concerns about how they handle pensions money, risking fraudulent payments from the savings plans.

  • November 04, 2024

    Marsh Launches Insurance For Carbon Credit Fraud

    Broker Marsh said on Monday that it has launched a new insurance facility designed to protect businesses against the risk of purchasing fraudulent carbon credit certificates.

Expert Analysis

  • Navigating The Novel Challenges Facing The Legal Profession

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    The increasing prominence of ESG and AI have transformed the legal landscape and represent new opportunities for lawyers, but with evolving regulations and the ever-expanding reach of the Solicitors Regulation Authority, law firms should ensure that they have appropriate policies in place to adapt to these challenges, say Scott Ashby and Aimee Talbot at RPC.

  • New Fixed Costs Rules May Have Unforeseen Consequences

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    The recent changes to fixed recoverable costs, which were intended to reduce costs and increase certainty, have profound implications for civil claims, but may unintentionally prompt more litigation and reduce access to justice as lawyers leave the market, says Paul Squires at Sedgwick Legal.

  • Sustainable Finance Consultations May Signal Key Changes

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    The European Commission's recently launched consultations on the sustainable finance disclosure regulation point to important changes, including the potential introduction of a new product categorization system, and illustrate that there are clearly issues with the existing framework, say Ferdisha Snagg and Andreas Wildner at Cleary.

  • Deal Over Jets Stranded In Russia May Serve As Blueprint

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    In the face of a pending "mega-trial" over leased airplanes held in Russia after its invasion of Ukraine, a settlement between leading aviation lessor AerCap Holdings NV and NSK, the Russian state-controlled insurance company, could pave the way for similar deals, say Samantha Zaozirny and Timeyin Pinnick at Browne Jacobson.

  • What The Auto-Enrollment Law Means For UK Workforce

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    In a welcome step to enhance retirement savings, the U.K. government is set to extend the automatic enrollment regime by lowering the eligibility age and reducing the lower qualifying earnings limit, but addressing workers' immediate financial needs remains a challenge, says Beth Brown at Arc Pensions.

  • Protecting The Arbitral Process In Russia-Related Disputes

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    Four recent High Court and Court of Appeal rulings concerning anti-suit injunction claims illustrate that companies exposed to litigation risk in Russia may need to carefully consider how to best protect their interests and the arbitral process with regard to a Russian counterparty, say lawyers at Linklaters.

  • RSA Insurance Ruling Clarifies Definition Of 'Insured Loss'

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    A London appeals court's recent ruling in Royal & Sun Alliance Insurance v. Tughans, that the insurer must provide coverage for a liability that included the law firm's fees, shows that a claim for the recovery of fees paid to a firm can constitute an insured loss, say James Roberts and Sophia Hanif at Clyde & Co.

  • Key Takeaways From ICO Report On Workforce Monitoring

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    The Information Commissioner's Office recently published guidance on workplace monitoring, highlighting that employers must strike a balance between their business needs and workers' privacy rights to avoid falling afoul of U.K. data protection law requirements, say lawyers at MoFo.

  • Firms Should Prepare For New DEI Reporting Requirements

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    While the Financial Conduct Authority and Prudential Regulation Authority's recent proposals on diversity and inclusion in the financial sector are progressive, implementing reporting requirements will pose data collection and privacy protection challenges for employers, say lawyers at Fieldfisher.

  • Shifting From Technical To Clear Insurance Contract Wordings

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    Recent developments on insurance policies, including the Financial Conduct Authority's new consumer duty, represent a major shift for insurers and highlight the importance of drafting policies that actively improve understanding, rather than shift the onus onto the end user, say Tamsin Hyland and Jonathan Charwat at RPC.

  • Recent Trends In European ESG-Related Shareholder Activism

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    New ESG reporting standards in the European Union, as well as recent climate change, board diversity and human rights cases, illustrate how shareholder activism may become more prominent in years to come as regulation and investor engagement continues to strengthen, say lawyers at Debevoise.

  • How Insurance Policies Can Cover Generative AI Risks

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    As concerns rise about the new risks that businesses face as a result of generative artificial intelligence tools, such as AI-facilitated hacking and intellectual property infringement, policyholders should look to existing insurance policies to cover losses or damages, says Josianne El Antoury at Covington.

  • Breaking Down The UK's Draft Updates To Prospectus Regime

    While there still may be changes, the U.K.'s near-final draft statutory instrument to update and in some parts replace the current on-shored EU prospectus regime is likely to represent a significant overhaul of the existing regime and may make U.K. capital markets a more attractive venue for listings for issuers, say attorneys at Debevoise.

  • 4 Compliance Considerations Under FCA Consumer Duty

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    Following the U.K. Financial Conduct Authority's recent introduction of the new consumer duty regime, firms will need to be mindful of data protection implications when managing their compliance with the duty and data protection legislation, say lawyers at Bird & Bird.

  • Swiss Privacy Law Reforms Present Divergences From GDPR

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    The differences between Switzerland’s recently reformed Federal Act on Data Protection and the EU's General Data Protection Regulation, particularly around data breach reporting and the liability of company officers, will need to be carefully managed by multinationals that may have competing obligations under different laws, say Kim Roberts and Vanessa Alarcon Duvanel at King & Spalding.

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