Insurance UK

  • January 13, 2025

    Gov't To Make Pension Fund Clearing Exemption Permanent

    The U.K. government said it will push through regulation to ensure that an exemption on pension funds having to clear certain kinds of derivatives will not expire this year.

  • January 13, 2025

    BoE 2025 Pension Deal Focus Dubbed A 'Reassurance'

    The Prudential Regulation Authority's continued focus on the bulk purchase annuity sector is a positive step in light of the rapid increase in pension deals over recent years, Lane Clark & Peacock LLP said.

  • January 13, 2025

    UK Unveils Blueprint To Become AI World Leader

    The government unveiled Monday an ambitious blueprint to make Britain a world leader in artificial intelligence to benefit financial services and other sectors, supported by pro-growth regulation.

  • January 13, 2025

    Credit Reference Firms Urged To Up Game On Cyberattacks

    The financial watchdog has told credit reference agencies and information providers to prevent cyberattacks better than they do now because they face potential digital threats as they accumulate more data. 

  • January 20, 2025

    Clyde & Co. Lands Plane Insurance Pro From Kennedys

    An insurance specialist has returned to Clyde & Co., joining its aviation liability practice as a partner in London as the law firm looks to bolster its firepower and support its clients' complex and evolving needs.

  • January 13, 2025

    Gallagher Settles £15M Koko Venue Negligence Claim

    The owner of London music venue Koko reached a settlement in its £15 million ($18 million) case against Arthur J. Gallagher on the first day of a trial in London on Monday, ending its claim that the insurer-broker failed to ensure it had cover for a fire.

  • January 13, 2025

    Pension Annuity Rates Soar On Bond Market Turmoil

    The income on a newly-purchased pension annuity has surged because of a crisis in the bond market, offering a silver lining for those approaching retirement, a consultancy said Monday.

  • January 13, 2025

    Dutch Insurer Aegon Begins €150M Buyback Scheme

    Aegon said on Monday that it has started buying back shares worth up to €150 million ($153 million) in a program designed to return cash to shareholders and fund payouts to reward the Dutch insurance giant's senior managers.

  • January 10, 2025

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

    This past week in London has seen legal services group RBG Holdings face a winding-up petition from founder Ian Rosenblatt amid soured talks about the group's leadership, J.P. Morgan file a fresh claim against WeRealize, retailer Asda face an intellectual property claim over a specific type of mandarin and financier Nathaniel Rothschild sue German entrepreneur Lars Windhorst and his investment vehicle Tennor International. Here, Law360 looks at these and other new claims in the U.K.

  • January 10, 2025

    Lawyer Cleared Of Dishonesty Over AML Compliance Failings

    A disciplinary tribunal on Friday cleared a lawyer of dishonesty over allegations that he misled an insurer and the English solicitors regulator about his lack of compliance with anti-money laundering regulations.

  • January 10, 2025

    Pension Funds So Far Riding Out Bond Market Volatility

    Pension funds have mostly weathered the current sell-off in bond markets, experts are saying, despite fears of a repeat of the liability-driven investment crisis of two years ago.

  • January 10, 2025

    CMS Taps Tax Disputes Specialist From KPMG

    CMS announced that it has appointed a former KPMG director as a partner in its London-based tax practice.

  • January 10, 2025

    Financial Lifeboat Scheme Sets Budget Of £103.6M

    The Financial Services Compensation Scheme on Friday said it expects its running costs for the upcoming financial year to be £103.6 million ($126.7 million) — a 0.5% increase on the current financial year.

  • January 10, 2025

    Broker Arian Hit With Fine For Cum-Ex Trade Failings

    The finance watchdog said Friday that it has fined broker Arian Financial LLP £289,000 ($354,000) for having inadequate systems and controls against financial crime in a cum-ex dividend trading case.

  • January 10, 2025

    UK Audit Watchdog Outlines Plans To Boost UK Growth

    The Financial Reporting Council said on Friday that it has adopted five priorities to support the Labour government's broader ambition to boost economic growth, including plans to improve investors' confidence in British companies.

  • January 09, 2025

    Insurer Utmost Formally Enters Pension Deal Market

    Utmost Life and Pensions Ltd. on Thursday formally confirmed it has entered the bulk purchase annuity market, signaling ambitions to hold over 5% of the pension transfer market within five years.

  • January 09, 2025

    Direct Line Names New GC Ahead Of Planned Aviva Merger

    Direct Line Group has appointed a new general counsel to its executive committee, as the insurer moves toward its anticipated merger with rival Aviva later in 2025.

  • January 09, 2025

    Broker Launches Ukraine Property War Risk Reinsurance

    McGill and Partners said Thursday it has launched what it calls the first-of-its-kind war risk reinsurance facility for commercial property in Ukraine to improve understanding and underwriting of risks to assets in the region.

  • January 09, 2025

    Freshfields Steers £1.5B Pension Megadeal For Catering Co.

    A food catering giant has offloaded £1.5 billion ($1.8 billion) of its pension liabilities to Standard Life, the insurer said Thursday, the first megadeal for the sector of 2025.

  • January 09, 2025

    Pension Transfer Redress Falls From Rising Gilt Yields

    The compensation that pension savers can claim for being poorly advised to transfer their pensions has fallen significantly — in most cases to zero — due to recent bond market fluctuations, a consultancy said Thursday.

  • January 09, 2025

    BoE Pledges To Get Tough On Cyberthreat, Climate Change

    The Prudential Regulation Authority wrote to chief executives in the insurance sector on Thursday, setting out tough regulatory priorities for 2025, as it seeks better resistance to cyberthreats and greater management of climate-change risk.

  • January 08, 2025

    BoE Eyes Relaxed Financial Regulation To Support Growth

    The Bank of England's regulatory arm told a House of Lords Committee on Wednesday that it will reduce bank reporting requirements and enable insurers to make certain investments before regulatory approval, amid other easing of its rules in line with government growth priorities.

  • January 08, 2025

    Loss Adjuster QuestGates Buys Insurance Investigation Biz

    Loss adjuster QuestGates has said it has bought investigations specialists Brownsword Group in a move the business said improves its market share in the third-party probe sector.

  • January 08, 2025

    Pension Trustees Warned Against Complacency On Funding

    Pension trustees should not be complacent over record improvements in scheme funding positions over the coming year, a consultancy warned.

  • January 08, 2025

    'Rainy Day' Funds Could Be In Next Pension Review

    The U.K. government may potentially weigh the benefits of new "rainy day" funds for those saving for retirement as part of a wider policy review, an insurer said Wednesday. 

Expert Analysis

  • Series

    Why I Became A Lawyer: Completing The Journey Home

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    My mother's connection to her Native American heritage had a major influence on my career — my decision to enter the legal profession was driven by the desire to return to my tribal community and help it in any way I could, says Jason Hauter of Akin Gump.

  • 3 Insurance Issues Raised By The Notre Dame Cathedral Fire

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    The devastating Notre Dame Cathedral fire provides a rare opportunity to consider the many unique factors that owners and insurers must consider when insuring national treasures, say attorneys at Zelle.

  • Where The Post-Libor Litigation Tsunami Will Hit

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    The permanent cessation of the Libor rate in 2021 will likely trigger a flood of litigation over many existing contracts that lack effective replacements. Marc Gottridge of Hogan Lovells identifies the types of products that may be most susceptible to disputes.

  • Despite Decline In Cyberattacks, UK Cos. Should Stay Vigilant

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    The U.K. Department for Digital, Culture, Media and Sport's latest cybersecurity survey shows that U.K. cyberattacks have decreased in the last 12 months, likely thanks in part to the General Data Protection Regulation. But companies' cybersecurity efforts should continue to evolve, say experts at PriceWaterhouseCoopers.

  • UK Antitrust Watchdog Proposals Would Bolster Enforcement

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    The U.K. Competition and Markets Authority's proposals for reshaping competition enforcement and consumer protection would shift the historical balance in U.K. competition policy, increasing regulatory burden on companies while weakening judicial scrutiny of CMA actions, says Bill Batchelor of Skadden.

  • Guest Feature

    Preet Bharara On The Human Factor In The Justice System

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    A key theme in Preet Bharara's new book is the enormous role the human element plays in the administration of justice. The former U.S. attorney for the Southern District of New York discussed this theme, among other topics, in a recent conversation with White and Williams attorney Randy Maniloff.

  • Considering A More Cost-Effective Future For The SFO

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    In light of multiple recent examples of U.K. Serious Fraud Office investigations yielding far less than the agency may have hoped for, a new approach to prosecuting individuals and corporations may be a smart investment, says Azizur Rahman of Rahman Ravelli.

  • Lessons From Carphone Warehouse's Partial FCA Settlement

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    In the first case decided under the U.K. Financial Conduct Authority's new partial settlement process, Carphone Warehouse demonstrates not only the possible value of cooperating with authorities but also the cost of failing to right previous wrongs, says Syedur Rahman of Rahman Ravelli Solicitors.

  • Collective Redress In The EU: Past, Present And Future

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    Legislative processes harmonizing collective redress throughout the European Union have accelerated, leading to a proposed requirement that all member states establish collective action mechanisms, but some worry that the directive lacks sufficient guarantees against abusive litigation, say Philippe Métais and Elodie Valette of White & Case LLP.

  • Lenders Score Major High Court Victory In Foreclosure Case

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    The U.S. Supreme Court's unanimous ruling on Wednesday in Obduskey v. McCarthy & Holthus LLP removes nearly all activities taken by creditors seeking nonjudicial foreclosure of liens and mortgages from the ambit of the Fair Debt Collection Practices Act, says John Baxter of Nelson Mullins Riley & Scarborough LLP.

  • 3 Brexit Scenarios And Their Implications For US-UK Trade

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    Brexit negotiations are likely to result in one of three scenarios later this month: a Brexit deal, no Brexit at all or a "hard" no-deal Brexit. Each possibility will have different implications for the prospects of a U.S.-U.K. free trade agreement, says Dean Pinkert of Hughes Hubbard & Reed LLP.

  • Frustrating Events: Are Your Contracts Brexit-Proof?

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    In Canary Wharf v. European Medicines Agency, the U.K. High Court recently ruled that the U.K.'s withdrawal from the European Union will not discharge the EMA's lease obligations. Following Brexit, most similar arguments invoking force majeure or frustration are unlikely to succeed, say Rebecca Dipple and Wayne Hofer of Orrick Herrington & Sutcliffe LLP.

  • Simple Secrets For Writing A Killer Brief

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    These days, the legal profession offers meager opportunity for oral argument, so we need to focus on being better, brighter, tighter writers. And the key to writing a better brief is grabbing your judge's attention with a persuasive, well-crafted story, says Daniel Karon of Karon LLC.

  • What 2019 Has In Store For UK Data Protection

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    Many of the big data protection compliance themes of 2018 will continue on this year, including even General Data Protection Regulation preparation, but the possibility of a no-deal Brexit may complicate matters, says Stewart Room of PwC LLP.

  • Opinion

    Brexit International Arbitration Clause Is Misunderstood

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    Much of the criticism aimed at the international arbitration clause in the recent Brexit withdrawal agreement unfairly identifies a perceived lack of transparency and appears to be based on a lack of understanding about the process, says Margarita Michael of O'Melveny & Myers LLP.

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