Try our Advanced Search for more refined results
Insurance UK
-
November 25, 2024
DLA, Mayer Brown Steer £1.7B Pension Deal For National Grid
The U.K.'s largest utilities provider has offloaded £1.7 billion ($2.1 billion) of its pension liabilities to Aviva PLC, the insurer said Monday, in a deal guided by DLA Piper UK LLP and Mayer Brown International LLP.
-
November 25, 2024
FCA Rewrites Disclosure Rules, Handing Suspects The Reins
Changes to disclosure rules at the Financial Conduct Authority will give defendants more insight into its investigations than ever before — though the development might swamp those that cannot afford top legal advisers, lawyers say.
-
November 22, 2024
UK Insurer L&G Bags $2.2B US Pension Deals In 2024
Legal & General Group PLC said on Friday that it has completed $2.2 billion worth of pensions risk transfer business in the U.S. in 2024, a record amount for the U.K. financial services giant.
-
November 22, 2024
MPs To Probe UK Pensioner Poverty Amid Rising Costs
A cross-party parliamentary committee on Friday launched an inquiry into pensioner poverty in the U.K., seeking views on which measures have been most effective in addressing the cost of living for retirees.
-
November 22, 2024
UK Litigation Roundup: Here's What You Missed In London
This past week in London has seen cash-strapped Thurrock Borough Council bring a £40 million ($50 million) negligence claim against 23 other local authorities over its solar investments from a not-for-profit local government body, AstraZeneca sue a fire safety company following a blaze at its Cambridge headquarters last year, and a director who was convicted in 2016 for corporate manslaughter face action by Manolete Partners. Here, Law360 looks at these and other new claims in the U.K.
-
November 22, 2024
EU Finance Body Says Climate Disclosure Rules Too Detailed
A trade body for European financial institutions has warned an international accounting standard-setter that its proposed climate-related disclosures for financial statements are too detailed, imposing compliance expectations beyond existing accounting standards.
-
November 22, 2024
UK Gov't To Increase Whiplash Injury Tariff By 15%
The government said it will raise the fixed damages for "whiplash" neck injuries suffered in motor accidents by 15% to account for inflation, but claimant groups say the planned increase does not go far enough.
-
November 22, 2024
Speed Up Settlement Process, FCA Tells Life Insurers
The finance regulator told life insurance firms on Friday to speed up claims settlements and improve customer service for bereaved people, saying that it takes them an average of 53 to 122 days to process a claim and 53 days to deal with "whole of life" policies.
-
November 21, 2024
Dashboard Project Updates Pension Scheme Reporting Rules
Pension providers and schemes will face less onerous reporting requirements during the initial connection phase to the long-awaited dashboards project under changes announced by the program's coordinator Thursday.
-
November 21, 2024
Swiss Crack Down On Health Insurance Cold Calling After Ban
Switzerland's financial markets regulator on Thursday said it has launched investigations into four insurance and intermediary businesses suspected of breaching the recently introduced ban on cold calling in the health insurance sector.
-
November 21, 2024
EU Watchdogs Set Rules On Sharing Staff Fitness Reports
European Union regulators have set out guidelines for their new information exchange system to help national regulators assess the suitability of senior managers for key roles in financial services.
-
November 21, 2024
HCR Law Grows Insurance Practice With Litigation Specialist
Harrison Clark Rickerbys Ltd. has tapped Keith Mathews as a legal director in the firm's insurance and risk team in London from DAC Beachcroft LLP.
-
November 21, 2024
FCA Weighing Wider Impact Of Motor Finance Ruling
The Financial Conduct Authority said it is considering issuing guidance amid growing legal uncertainty over commission arrangements following a bombshell court ruling on motor finance.
-
November 20, 2024
11th Circ. Says No Coverage For Holding Co. In $11.7M Row
The Eleventh Circuit unanimously affirmed Wednesday that an insurer doesn't have to cover underlying litigation against a holding company by investors who wanted to revoke an $11.7 million buy-in, because claims were made before the policy was active.
-
November 20, 2024
Oakley Capital To Invest In German Insurance Agent
Oakley Capital said Wednesday that it is investing in German insurance managing general agent Konzept & Marketing, or K&M, through its Fund V, with its affiliate Oakley Capital Investments injecting approximately £14 million ($17.7 million) into the deal.
-
November 20, 2024
Watchdog Censures Insurance Agency Over Breaches In Sales
The Competition and Markets Authority censured Prima Insurance on Wednesday for failing to properly explain the costs over more than a year of a policy add-on to thousands of consumers.
-
November 20, 2024
Marsh Says Greensill Bank Can't Add It To Australian Dispute
Marsh urged a court Wednesday to maintain an order banning Greensill Bank AG from dragging it into litigation in Australia linked to the collapse of the wider group, arguing that the lender is bound by an English jurisdiction clause in its contract with the insurance broker.
-
November 20, 2024
European Council Greenlights ESG Rating Regime
The European Union has adopted new rules to regulate environmental, social and governance rating activities to make them more transparent, consistent and comparable in a move to improve investors' trust in sustainable financial products.
-
November 20, 2024
Aviva Unveils Islamic-Compliant Workplace Pensions Strategy
Insurance giant Aviva has launched a tailored solution for members of workplace pensions who want investment options that are compliant with Islamic law, introducing a range of funds and universal de-risking options.
-
November 20, 2024
Danish Pensions Biz Sells £48M Of Shares In Helios Towers
Denmark's largest pensions and processing company said on Wednesday that it has sold shares in Helios Towers PLC, a telecommunications company based in Britain, raising approximately £48 million ($61 million).
-
November 19, 2024
Truck Insurance Must Arbitrate Asbestos Coverage Claims
Truck Insurance Exchange must arbitrate its dispute with a group of reinsurers over coverage for asbestos bodily injury claims filed against Kaiser Cement & Gypsum, a California federal judge ruled, saying there was "little difficulty" in concluding that the case falls within the parties' arbitration agreement.
-
November 19, 2024
Redress Scheme Reports 18% Jump In Decisions On Claims
The Financial Services Compensation Scheme reported on Tuesday an 18% year-on-year increase in decisions on claims filed by customers of failed financial companies during the first six months of the fiscal year that ends in March 2025.
-
November 19, 2024
Ex-Director Ordered To Repay £9.7M To Pension Funds
A former director of a U.K. pension scheme trustee company must repay more than £9.7 million ($12.3 million) into two retirement savings plans after the sector's ombudsman found he acted dishonestly by facilitating dubious investments.
-
November 19, 2024
Marsh Unit Buys Greece Reinsurance Joint Venture
Reinsurance specialist Guy Carpenter said Tuesday that it has agreed to acquire full control of its Greek reinsurance broking and advisory joint venture Carpenter Turner 11 years after it was launched.
-
November 19, 2024
Fund Managers Call For Automated Process To Boost Listings
The Investment Association urged fund managers and brokers on Tuesday to join forces to automate the processes for introducing companies to listing on the stock market, which could make it easier to raise capital and increase the appeal of U.K. markets.
Expert Analysis
-
Digital Nomads: Key Considerations For Global Businesses
As employers and employees embrace remote, location-independent work arrangements enabled by technology, they must be mindful of the employment law and tax consequences such arrangements may trigger, say Hannah Wilkins and Audrey Elliott at Eversheds Sutherland.
-
New License Eases Sanctioned Clients' Legal Fee Payments
The general license recently issued by the U.K. Office of Financial Sanctions Implementation permitting the payment of legal fees owed by a sanctioned company or individual will potentially reduce the agency's backlog and is welcome news for both lawyers and OFSI staff, say Zulfi Meerza and Syed Rahman at Rahman Ravelli.
-
Preparation Is Key To Businesses Minimizing Cyber Breaches
A recently published report by the U.K. Department for Digital, Culture, Media and Sport on organizational experiences of cybersecurity breaches highlights the importance of having breach response policies in place and being able to demonstrate that reasonable preventive and risk management steps were taken, says Lawson Caisley at White & Case.
-
UK Policyholders Can Expect Better COVID Claims Handling
The U.K. Financial Conduct Authority recently outlined some best practices for COVID-19 business interruption claims handling, which, along with recent High Court of Justice decisions, will likely lead to faster claims handling and clearer insurer communication, say Gurpreet Sanghera and Charlie Edwards at Simkins.
-
A Recovery Option For Lenders With Planes Stuck In Russia
For aircraft lessors considering insurance coverage litigation to recover for losses of equipment leased to Russian airlines, negotiating an assignment of rights may provide a faster pathway to recovery, say David Klein and Jose Lua-Valencia at Pillsbury.
-
Series
My Favorite Law Prof: How I Learned To Argue Open-Mindedly
Queens College President Frank Wu reflects on how Yale Kamisar’s teaching and guidance at the University of Michigan Law School emphasized a capacity to engage with alternative worldviews and the importance of the ability to argue for both sides of a debate.
-
4 Key Skills For An Effective Attorney Coaching Conversation
As BigLaw firms are increasingly offering internal coaching as one of many talent strategies to stem ongoing lawyer attrition, Stacey Schwartz at Katten discusses how coaches can help attorneys achieve their goals.
-
New Clarity On Directors' Creditor Duty In Insolvency Context
The recent case of BTI 2014 v. Sequana, the first to consider the creditor duty at U.K. Supreme Court level, provides directors and insolvency practitioners with significant guidance on how close to insolvency the company needs to be for the creditor duty to be engaged, say attorneys at Shearman.
-
FCA Pension Scheme Case Highlights Issues Ripe For Reform
The Financial Conduct Authority's response to the British Steel Pension Scheme case exposed wider issues within its regulatory approach and could demonstrate the need for industrywide reforms to minimize the risks with transferring out of a pension scheme, say Oliver Reece and Larisa Gordan at PwC.
-
What An Organization Can Do To Protect Its Supply Chains
In light of recent world events, supply chain issues have never been more critical for business, and to protect the commercial viability of their contracts, organizations should address performance concerns in good time, with a workable strategy in place should the chain break down, says Laura Heeley at Eversheds Sutherland.
-
German Draft Bill Reflects Trend Toward New Antitrust Tools
A recently proposed amendment to the German Act against Restraints on Competition continues the trend in Europe to equip authorities with greater powers, shifting from a more traditional approach to a more extensive market protection tool, say attorneys at Gibson Dunn.
-
How Counsel Can Effectively Lead Data Breach Investigations
More businesses are expecting in-house counsel to lead cybersecurity incident responses, so lawyers should work on asking external responders the right questions, managing ransom negotiations to gain time and information, and communicating with regulators to avert or limit penalties, say Oliver Price and Kevin Hughes at FTI Consulting.
-
What EU Oil Spill Insurance Ruling Means For UK Arbitration
A recent European Court of Justice opinion in an insurance dispute related to the 2002 sinking of oil tanker MV Prestige provides clarity on the priority of cross-border judgments and arbitral awards, and indicates that EU member state civil judgments will be given precedence over U.K. arbitral awards — with exceptions, says David Vaughan at Collyer Bristow.
-
UK Claim Limitation Ruling Is A Tentative Win For Insurers
A U.K. county court's recent decision in Rashid v. Direct Savings reduces the limitation period for third parties to make direct claims against insurers, potentially providing insurers with a defense that was not previously apparent, if the decision is upheld on appeal, says Robert Morris at RPC.
-
Why Risk-Based Employee Conduct Policies Are Advisable
In establishing employee conduct policies, companies should consider the extent to which they are exposed to certain types of risk, such as bribery and corruption, as establishing clear written standards offers a step toward avoiding criminal liability, says Steve Melrose at Bellevue Law.