Insurance UK

  • March 18, 2024

    Life Insurer DeadHappy Unable To Accept New Customers

    Life insurer DeadHappy said Monday it could not accept new customers, a year after the regulated broker faced restrictions for a controversial advertising campaign featuring a convicted serial killer.

  • March 18, 2024

    Aviva Completes £937M Exit From Singapore Insurer

    Aviva PLC said Monday that it has sold its entire stake in Singapore Life Holdings Pte Ltd., or Singlife, for £937 million ($1.2 billion), giving Sumitomo Life Insurance Co. complete control of the company.

  • March 18, 2024

    Direct Line Unit Denies Liability For Plastic In Branston Pickle

    A subsidiary of Direct Line Group PLC has denied owing a processed vegetable product supplier £487,000 ($617,000) for losses caused by plastic found in ingredients set to be used for Branston Pickle chutney, because the insurer has already paid out under its policy.

  • March 18, 2024

    WTW To Launch 'Game-Changing' Climate Finance Solution

    Insurance broker WTW said Monday it is working to launch an insurance facility that it hopes will remove risks associated with loans to private companies, a move to protect them from threats linked to climate change.

  • March 18, 2024

    UK Pension Insurers Sign Up To Net-Zero Targets

    The bulk annuities insurance sector in Britain has universally adopted net-zero targets for carbon emissions, but analysts warn that there is still more to do in terms of climate stewardship.

  • March 18, 2024

    Watchdogs Join Forces To Ramp Up Fight On Debt Collection

    The Financial Conduct Authority said on Monday it is launching a joint effort with three other watchdogs to further scrutinize debt collection practices, ensuring that companies fairly treat consumers who are feeling the pinch from the cost-of-living crisis.

  • March 15, 2024

    Solicitor Struck Off For Running Firm Without Insurance

    A solicitor has been struck off after a London legal professional tribunal ruled that he had failed to have professional indemnity insurance, then gave regulators misleading information when they investigated, according to a judgment published Friday.

  • March 15, 2024

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

    The past week in London has seen Howard Kennedy face legal action by a London hotel chain, former racing boss Bernie Ecclestone and Formula One hit with a breach of contract claim by a Brazilian racecar driver, and a libel row between broadcaster Jeremy Vine and ex-footballer Joey Barton. Here, Law360 looks at these and other new claims in the U.K.

  • March 15, 2024

    FCA To Review How Firms Treat Vulnerable Customers

    Britain's finance watchdog said on Friday that it will examine whether U.K. firms are treating vulnerable and elderly customers fairly.

  • March 15, 2024

    Debenhams Pension Deal Eases Superfund Fears, LCP Says

    The step by Clara-Pensions to take on all 10,400 members of the retirement savings plan of collapsed retailer Debenhams in the U.K.'s second-ever superfund deal will ease concerns around transactions in the nascent market, a consultancy has said.

  • March 15, 2024

    Insurer Calls For Clarity Over National Insurance Funding

    The U.K. government must provide clarity over the impact of payroll tax cuts on future funding for state pensions, insurance giant Aegon UK said Friday.

  • March 15, 2024

    Pension Watchdog Says Poor-Value Plan Initiative Is Working

    The U.K.'s retirement savings watchdog said that its fight against poor-value pension schemes is working and that plans are choosing to wind up following government regulations introduced to drive improvements for members.

  • March 15, 2024

    One-Day US Settlement Will Jeopardize Global FX Market

    European asset managers have warned central banks and regulators that the planned U.S. move in May to settle foreign exchange trades more quickly will make billions of dollars in daily settlements unsafe, putting the global market at risk.

  • March 14, 2024

    Lehman Brothers Can't Undo Trial Loss Over Crisis-Era CDS

    A New York appeals court on Thursday affirmed a bench trial loss Lehman Brothers' bankrupt European unit suffered last year in a suit attempting to claw back nearly half a billion dollars from Assured Guaranty over losses on credit default swaps tied to the 2008 financial crisis.

  • March 14, 2024

    FCA Warns Firms To Give Fair Value Under Consumer Duty

    The Financial Conduct Authority warned firms on Thursday that it will act on significant concerns about failure to deliver fair value for savers under the Consumer Duty regime.

  • March 14, 2024

    Clara Takes Debenhams Pension Scheme In Landmark Deal

    All 10,400 members of the retirement savings plan of collapsed retailer Debenhams will have their promised pension benefits restored after Clara-Pensions announced Thursday it would take on the scheme in the U.K.'s second-ever superfund transaction.

  • March 14, 2024

    Insurers Launch Fire Safety Project In Response To Grenfell

    McGill and Partners Ltd. has established a fire safety program, designed to expand insurance capacity for buildings with combustible cladding, in response to the deadly 2017 fire at the Grenfell Tower flats in West London.

  • March 14, 2024

    EU Renews US Insurance Market Equivalence For 10 Years

    The European Union will continue recognizing U.S. insurance regulations as equivalent to its own for another 10 years, the European Commission said Thursday.

  • March 14, 2024

    Advisers Want Tax Reduction For Pensions, Aegon Says

    Many British financial advisers want the government to reduce taxes as part of pension reforms following the next general election, insurance firm Aegon UK said Thursday.

  • March 14, 2024

    Insurer Completes Full Construction Co. Pension Scheme Deal

    Insurer Just Group said on Thursday that it has completed a £37 million ($47.3 million) buy-out of a pension scheme sponsored by a leading engineering and construction company, finishing the process that it started in 2013.

  • March 14, 2024

    CMS Leads Rothesay £6B Buy Of Scottish Widows Portfolio

    Pension insurer Rothesay Life said Thursday that it will buy Scottish Widows' £6 billion ($7.7 billion) portfolio of bulk annuities from Lloyds Banking Group PLC, in a transaction guided by CMS Cameron McKenna Nabarro Olswang LLP.

  • March 13, 2024

    Pensions Watchdog Workers Call Off Strike, Agree To Pay Deal

    Some 400 workers at The Pensions Regulator suspended their strike action after agreeing to a pay increase aligned with guidelines set for government employees, the watchdog said Wednesday.

  • March 13, 2024

    Norton Pension Scam Victims Receive Initial £9.4M Redress

    Former employees of Norton Motorcycles received £9.4 million ($12 million) into their pension schemes from the Fraud Compensation Fund this week, an independent trustee told a group of senior MPs on Wednesday.

  • March 13, 2024

    Gordons, Pinsent Masons Steer Academy Buy Of Allianz Unit

    Academy Insurance Services has agreed to acquire the Premierline commercial insurance arm of insurance giant Allianz in the U.K. for an undisclosed amount in a deal guided by Pinsent Masons LLP and Gordons LLP.

  • March 13, 2024

    'Significant' Gaps Remain In UK Pension Provision, FCA Says

    Automatic enrollment should be recognized as a success, but gaps around the retirement saving provision remain, the Financial Conduct Authority's chief executive said Wednesday, raising questions about Britain's current and future pension landscape.

Expert Analysis

  • Top Court Hire Car Ruling Affects 3rd-Party Negligence Cases

    Author Photo

    The U.K. Supreme Court's recent decision in Armstead v. Royal & Sun Alliance, finding that an insurer was responsible for lost car rental income after an accident, has significant implications for arguing economic loss and determining burden of proof in third-party negligence cases that trigger contractual liabilities, say lawyers at Macfarlanes.

  • Unpacking The Building Safety Act's Industry Overhaul

    Author Photo

    Recent updates to the Building Safety Act introduce a new principal designer role and longer limitation periods for defects claims, ushering in new compliance challenges for construction industry stakeholders to navigate, as well as a need to affirm that their insurance arrangements provide adequate protection, say Zoe Eastell and Zack Gould-Wilson at RPC.

  • A Rare Look At Judicial Interpretation Of LEG Exclusions

    Author Photo

    A Florida federal court’s order last month in Archer Western-De Moya v. Ace American Insurance and an earlier decision from a D.C. federal court offer insight into how courts may interpret defects exclusion clauses developed by the London Engineering Group — filling a void in case law in the area, says Jonathan Bruce at Holman Fenwick.

  • Ruling In FCA Case Offers Tips On Flexible Work Requests

    Author Photo

    In Wilson v. Financial Conduct Authority, the Employment Tribunal recently found that the regulator's rejection of a remote work request was justified, highlighting for employers factors that affect flexible work request outcomes, while emphasizing that individual inquiries should be considered on the specific facts, say Frances Rollin, Ella Tunnell and Kerry Garcia at Stevens & Bolton.

  • Breaking Down The New UK Pension Funding Regs

    Author Photo

    Recently published U.K. pension regulations, proposing major changes to funding and investing in defined benefit pension schemes, raise implementation considerations for trustees, including the importance of the employer covenant, say Charles Magoffin and Elizabeth Bullock at Freshfields.

  • Decoding UK Case Law On Anti-Suit Injunctions

    Author Photo

    The English High Court's forthcoming decision on an anti-suit injunction filed in Augusta Energy v. Top Oil last month will provide useful guidance on application grounds for practitioners, but, pending that ruling, other recent decisions offer key considerations when making or resisting claims when there is an exclusive jurisdiction clause in the contract, says Abigail Healey at Quillon Law.

  • Cayman Islands Off AML Risk Lists, Signaling Robust Controls

    Author Photo

    As a world-leading jurisdiction for securitization special purpose entities, the removal of the Cayman Islands from increased anti-money laundering monitoring lists is a significant milestone that will benefit new and existing financial services customers conducting business in the territory, say lawyers at Walkers Global.

  • How Decision On A Key Definition Affects SMEs

    Author Photo

    The Financial Conduct Authority's decision not to extend the definition of small and midsized enterprises may benefit banks and finance providers in the current high interest rate environment and where SMEs in certain sectors may be under financial pressure in light of the cost-of-living crisis in order to streamline it, says Rachael Healey at RPC.

  • Employers Can 'Waive' Goodbye To Unknown Future Claims

    Author Photo

    The Scottish Court of Session's recent decision in Bathgate v. Technip Singapore, holding that unknown future claims in a qualifying settlement agreement can be waived, offers employers the possibility of achieving a clean break when terminating employees and provides practitioners with much-needed guidance on how future cases might be dealt with in court, says Natasha Nichols at Farrer & Co.

  • Acquisition Of AI Tech Poses Challenges For Media Industry

    Author Photo

    The artificial intelligence regulatory landscape is changing quickly, and media and entertainment companies planning to acquire AI technology through a merger, acquisition or licensing deal should be mindful of potential new compliance requirements and AI-specific insurance products, say lawyers at Covington.

  • 3 Financial Services Hot Topics To Watch In 2024

    Author Photo

    Technology, ESG and private markets are set to have the greatest impact on financial markets in 2024, as firms grapple with increasing regulatory change and a shifting political backdrop on both sides of the Atlantic, says Matthew Allen at Eversheds Sutherland.

  • Misleading Airline Ads Offer Lessons To Avoid Greenwashing

    Author Photo

    Following the Advertising Standards Authority's recent decision that three airlines' adverts misled customers about their environmental impact, companies should ensure that their green claims comply with legal standards to avoid risking reputational damage, which could have financial repercussions, say Elaina Bailes and Olivia Shaw at Stewarts.

  • CMA Guidance Can Help Businesses Act On Climate Change

    Author Photo

    Guidance recently published by the Competition and Markets Authority, which explains how competition law applies to sustainability and climate change agreements, provides clarity for businesses seeking to collaborate and emphasizes the regulator’s open-door policy, says Andrew Maxwell at Freeths.

  • An Overview Of UK Short Selling Regulation Reforms

    Author Photo

    The steps taken by the U.K. government to reform the short selling regime show a thoughtful and considered approach and a willingness to listen to industry feedback in adapting the legacy EU regime to the realities of the U.K. markets, say Anna Maleva-Otto and Matthew Dow at Schulte Roth.

  • Key Points From Ireland's New Accountability Framework

    Author Photo

    The recently introduced Individual Accountability Framework is a positive step for the financial services industry in Ireland, and in contributing to cultural and practical change will encourage positive behavior and good governance for the benefit of the industry and investors, say Aongus McCarthy and Niall Esler at Walkers Global.

Want to publish in Law360?


Submit an idea

Have a news tip?


Contact us here
Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!