Insurance UK

  • September 26, 2024

    EU Mulls Greater Protection For Pensions From Market Risk

    Retirement savings plans across Europe should improve their management of liquidity risk and governance procedures to protect themselves against market volatility, the bloc's insurance and pensions watchdog said on Thursday.

  • September 26, 2024

    BoE Plans To Fast-Track Insurance Special Purpose Vehicles

    The Bank of England on Thursday revealed plans to speed up the approval process for insurance special purpose vehicles used by insurers to manage risk, aimed at boosting the competitiveness of London's insurance market.

  • September 25, 2024

    More Oversight On Professional Pension Trustees Expected

    Half of the pension schemes in the U.K. are now under professional or sole trustee management for the first time, Lane Clark & Peacock has said, suggesting that growing numbers will lead to greater oversight from the retirement savings watchdog.

  • September 25, 2024

    Smaller UK Pension Deals Behind Record Numbers In 2024

    Smaller pension deals worth less than £100 million ($133.7 million) drove the "staggering" number of retirement savings de-risking transactions penned in the first half of the year, Lane Clark & Peacock LLP said Wednesday.

  • September 25, 2024

    Gov't Warned Over Risk Of 'Too Big To Fail' Pension Funds

    A government push toward the consolidation of retirement savings plans could create new megafunds that are anticompetitive and become "too big to fail," experts warned on Wednesday.

  • September 25, 2024

    Fraudulent UK Insurance Claims Topped £1B In 2023

    The trade body for British insurers reported Wednesday that fraudulent insurance claims in the U.K. exceeded £1.1 billion ($1.4 billion) in 2023, reflecting a 4% rise compared to the previous year.

  • September 25, 2024

    Insurers Forecast To Take €2.1B Hit From European Floods

    Flooding that hit central and Eastern Europe this September could cost insurers up to €2.1 billion ($2.4 billion), according to recent estimates by a subsidiary of one of the world's largest insurance brokers.

  • September 25, 2024

    Property Investment Trust Buys £78M UK Logistics Portfolio

    Real estate investment trust LondonMetric Property PLC said on Wednesday that it has bought six warehouses for £78 million ($104 million) from a pension fund listed on the London Stock Exchange.

  • September 24, 2024

    UK Gov't Brings Forward New Laws To Fight Welfare Fraud

    The British government said Tuesday it is getting ready to introduce a new bill in this parliamentary session to tackle social security fraud that could save taxpayers £1.6 billion ($2.1 billion) over the next five years.

  • September 24, 2024

    PRA Sets Date For Final Package Of Solvency II Rules

    The Bank of England said it would publish the final set of rules for its solvency reform of the insurance sector by mid-November.

  • September 24, 2024

    Most UK Financial Firms Are Risk-Averse About New Tech

    Financial services companies in the U.K. have delayed the adoption of new technology, such as artificial intelligence and machine learning, because they have concerns over risks, a survey by a professional services provider suggested on Tuesday.

  • September 24, 2024

    Pension Trustees Urged To Look At Insurers' Carbon Targets

    Trustees of retirement savings plans should look at how well insurers perform against their interim carbon-reduction targets when they choose a partner for a bulk annuities transaction, a consultancy has said.

  • September 24, 2024

    Nasdaq, Deutsche Boerse Targeted In EU Antitrust Raids

    Nasdaq and Deutsche Boerse said Tuesday that they are among the financial services firms being investigated by the European Commission over alleged violations of EU competition laws in derivatives trading.

  • September 24, 2024

    Half Of Local Gov't Pension Plans Have No Net-Zero Target

    Half of the local government pension schemes in Britain have yet to set a net-zero emissions target, according to a report published Tuesday, which reveals that just 49% of local authority retirement funds have committed to a strategy.

  • September 23, 2024

    FCA Chair Cleared Over Whistleblower Complaints Handling

    Britain's finance watchdog said Monday that its chair had been cleared of wrongdoing over his handling of two whistleblower complaints but that it will strengthen protection for people who sound the alarm after it reviewed its internal policy.

  • September 23, 2024

    FCA Faults City Bodies' AML Policing As Inconsistent

    The Financial Conduct Authority on Monday raised concerns over the inconsistent enforcement of anti-money laundering regulations by City professional bodies, particularly in the legal and accountancy sectors.

  • September 23, 2024

    UK Insurers' Tax Contribution Hits Record High £18.5B

    Members of the Association of British Insurers contributed a record £18.5 billion ($24.6 billion) in tax to the U.K. economy last financial year, the trade body said Monday.

  • September 23, 2024

    Pension Experts Urge Tax Breaks For UK Investment Plan

    The government could best encourage investment in the economy from pension schemes by adopting tax incentives, a trade body said.

  • September 23, 2024

    UK Watchdog Thins Out Pension Plan Reporting Rules

    The Pensions Regulator said Monday it has scaled back the amount of data that retirement schemes are expected to submit under new funding regulations, which went live this weekend.

  • September 23, 2024

    Finance Sector Seeks Regulatory Clarity As Challenges Loom

    The financial services sector is pushing for clearer regulations on artificial intelligence and environmental, social and governance criteria, according to research by global law firm DLA Piper.

  • September 20, 2024

    BNP Paribas Plugging $5B Into Apollo-Backed Atlas

    Private equity giant Apollo and its Atlas SP Partners platform, both advised by Paul Weiss Rifkind Wharton & Garrison LLP, on Friday unveiled a strategic partnership with European Union bank BNP Paribas, led by Cadwalader Wickersham & Taft LLP, that will see the global bank plugging an initial $5 billion investment into the collaboration.

  • September 20, 2024

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

    The past week in London has seen crypto exchange Binance face a new claim from the co-founder of SO Legal, a U.S. immersive art company take on a Bristol venue for copyright violations and Blake Morgan LLP hit with a pension schemes claim by The Trust for Welsh Archeology. Here, Law360 looks at these and other new claims in the U.K.

  • September 20, 2024

    Replace NHS With Health Insurance Model, Think Tank Says

    Britain's National Health Service should be replaced by a social insurance model to bring health outcomes to comparable levels in Europe, a free-market think tank has argued, amid concerns the cash-strapped system is no longer viable.

  • September 20, 2024

    Insurance Brokers Say Big Cos. Don't Need Consumer Rules

    The Financial Conduct Authority should exclude bigger businesses from the scope of consumer protection regulations, in order to boost the competitiveness of the U.K. insurance sector, a trade body said.

  • September 20, 2024

    Insurers Deny Liability For $911M Stranded Aircraft Claims

    Two insurers have argued they are not liable for claims totaling $911 million over aircraft stranded in Russia as part of a wave of claims worth £13 billion ($17.3 billion) that have flooded courts following the invasion of Ukraine.

Expert Analysis

  • 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.

  • Relief For Cos. Conducting UK Internal Investigations

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    After almost a year and a half of uncertainty, the U.K. Court of Appeal has restored the eminently sensible position that documents created in an internal investigation are capable of being covered by litigation privilege when a criminal investigation or prosecution is in prospect, say Simon Airey and Joshua Domb of Paul Hastings LLP.

  • Breaking Down The UK's Revised Corporate Governance Code

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    Recent changes to the U.K. Corporate Governance Code should reassure investors that companies with a premium listing on the London Stock Exchange are committed to being standard-bearers. Issuers may also benefit from the workforce engagement, corporate culture and diversity changes that will be brought into businesses, say Joseph Ferraro and Jennifer Tait of Willkie Farr & Gallagher LLP.

  • Q&A

    Back To School: Widener's Rod Smolla Talks Free Speech

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    In this new series featuring law school luminaries, Widener University Delaware Law School dean Rodney Smolla discusses teaching philosophies, his interest in First Amendment law, and arguing before the U.S. Supreme Court in Virginia v. Black.

  • When To Use Options Analysis In Damages Assessments

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    In both the U.K. and abroad, the discounted cash flow methodology is often considered the "go to" valuation approach when conducting a damages assessment. However, DCF is not always appropriate and damages experts should know when to use the option analysis methodology instead, says Ronnie Barnes of Cornerstone Research Inc.

  • Opinion

    UK 'Unexplained Wealth Orders' Will Discourage Investors

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    The United Kingdom has taken the unusual step of introducing significant retrospective powers that could unravel acquisitions and transactions from decades ago. The government's intentions are laudable, but its new "unexplained wealth orders" cast doubts on the U.K.'s appetite for foreign investment and may hurt national interests, says Simon Bushell of Signature Litigation LLP.

  • Brexit: Bracing For A No-Deal Scenario

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    Once considered the “cliff edge,” the possibility of the United Kingdom exiting from the European Union without agreeing on a trade deal has moved from unthinkable to increasingly likely. Both sides are ramping up preparations for a no-deal scenario, which would have significant implications for businesses in all sectors, say attorneys with Baker McKenzie LLP.

  • Considering Contract Termination Under English Common Law

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    The U.K. High Court Commercial Division's recent decision in Phones 4U v. EE is a reminder of the care with which contracting parties should consider their rights when their English law contracts appear to be failing, says John Laird of Crowell & Moring LLP.

  • UK Corporations Face Growing Risk Of Class Actions

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    Recent years have seen an increased focus on class action litigation in U.K. courts, with a rise in high-profile and high-value claims being brought against corporate defendants. Furthermore, various factors suggest that the trend is likely to continue, say attorneys at Herbert Smith Freehills LLP.

  • Goldman Sachs Decision Raises Bank Failure Questions In UK

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    Depending on your political beliefs, the U.K. Supreme Court's recent judgment in Goldman Sachs v. Novo Banco either illustrates the benefits of remaining in the European Union or highlights the dangers of not breaking free from it, says Ben Pilbrow of Shepherd and Wedderburn LLP.

  • Opinion

    A Revolution For 3rd-Party Funding In The UK

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    Only 10 years ago, third-party funding was an exotic black art at the fringes of appropriate behavior in the United Kingdom. Now it is formally approved and championed by Court of Appeal judges and there is a wide range of funding options available to practitioners, says Guy Harvey of Shepherd and Wedderburn LLP.

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