Insurance UK

  • February 29, 2024

    FCA Plan To Name Suspect Firms Early Alarms Finance Sector

    Plans put forward by the Financial Conduct Authority to name companies under investigation early might unfairly cause "catastrophic" damage to reputations, even if the regulator later drops the case, according to lawyers.

  • February 29, 2024

    MPs Quiz Watchdog On Chaos At Local Gov't Pension Fund

    A group of senior MPs has asked the pensions watchdog about the steps it has taken to tackle disruption at a local government retirement fund where thousands of savers have faced delays in receiving their benefits.

  • February 29, 2024

    UK Pension 'Surplus Extraction' Changes Could Unlock £340B

    Government proposals to use the surplus held in defined benefit pension schemes could unlock £340 billion ($430 billion) for investment in U.K. businesses or payments for members, according to PwC.

  • February 29, 2024

    £1.84B Of Gov't-Backed COVID Loans Suspected Fraudulent

    Some £1.84 billion ($2.32 billion) of U.K. government-backed COVID-19 loans granted to help businesses through the pandemic are suspected to be fraudulent, the Department for Business and Trade said Thursday.

  • February 29, 2024

    Pensions Watchdog Chief Under Fire As Staff Strike Again

    Workers at the U.K. pensions watchdog started a 12-day walkout on Thursday, criticizing the "head-in-the-sand attitude" of the regulator's chief executive and claiming she has ignored their requests to resolve a months-long pay dispute.

  • February 29, 2024

    Insurer Direct Line Rejects £3B Linklaters-Backed Ageas Bid

    British insurer Direct Line has rejected a £3.1 billion ($3.9 billion) offer from Ageas, a Belgian-French rival, finding that it was "uncertain, unattractive, and that it significantly undervalued" the group.

  • February 28, 2024

    MPs Launch Inquiry Into Effectiveness Of Russia Sanctions

    Parliament's Treasury Select Committee on Thursday said it is launching a parliamentary inquiry into whether Britain's sanctions against Russia have been effective in hampering the Kremlin's ability to finance its war with Ukraine.

  • February 28, 2024

    Insurer To Pay £15K To End Abuse Payout Row With Ex-Vicar

    The Church of England's main insurer has agreed to pay £15,000 ($18,950) in a settlement to resolve a dispute over a former vicar's liability for money the insurer paid to settle victims' claims after he was convicted of child abuse.

  • February 28, 2024

    Bogus Insurance Claim Lawyer Seeks To Overturn Striking Off

    A solicitor who made a false insurance claim over a road traffic accident urged a court on Wednesday to restore him to the profession, saying that a tribunal did not consider the "exceptional circumstances" of the case.

  • February 28, 2024

    Profit Warnings Rise For Pension Scheme Sponsors

    One in five U.K.-listed companies with a defined benefit pension scheme issued a profit warning in 2023, according to research published by EY-Parthenon, marking a year that "exceeded levels" seen at the peak of the financial crisis.

  • February 28, 2024

    Pension Bodies Call For Investment Regulation Overhaul

    The government must boost levels of pension savings, consolidate funds and offer new opportunities for investing in illiquid assets if it wants the sector to contribute to U.K. growth, two trade bodies have said.

  • February 28, 2024

    FRC Plans To Review Code For Asset Managers

    Britain's accounting watchdog announced it will carry out a fundamental review of the Stewardship Code and revise its rules for investors where necessary to help promote U.K. competitiveness.

  • February 28, 2024

    St James's Place Sets Aside £426M For Potential Client Refunds

    One of the U.K.'s largest wealth managers said Wednesday that it has set aside £426 million ($540 million) for potential refunds to clients that have complained they did not receive financial advice they paid for.

  • February 27, 2024

    Global Pension Assets Total $55T In 2023, Broker Says

    Global pension assets rose by 11% to reach $55.7 trillion in 2023, according to research published by broker WTW, showing a rebound from weaker economic performance across the previous year. 

  • February 27, 2024

    Financial Ombudsman Braced For APP Fraud Claims

    Britain's financial dispute-resolution body told a cross-party group of members of Parliament on Tuesday it is braced for an avalanche of extra claims later this year when banks must recompense victims duped into transferring money to fraudsters.

  • February 27, 2024

    Insurance Body Launches Guide For 'Responsible' AI Use

    British insurers should consider who is accountable for any artificial intelligence systems they use to ensure that they are using the technology responsibly, according to a guide published Tuesday by a trade body.

  • February 27, 2024

    FCA To Start Naming Finance Firms Under Investigation

    The Financial Conduct Authority said on Tuesday that it plans to publicly name the firms it probes and publish information about its investigations at an earlier stage to increase the deterrent effect of its enforcement actions.

  • February 27, 2024

    British Pensions Sector Backs FCA 'Advice Gap' Review

    The U.K. pensions industry has thrown its support behind a sweeping review designed to plug a growing advice gap among workers approaching retirement.

  • February 27, 2024

    UK Insurers Call For Extension Of 'Whiplash' Injury Tariff

    Insurers said on Tuesday that they will campaign for changes to personal injury rules as part of a wider effort to curb spiraling hikes in the price of premiums.

  • February 26, 2024

    Insurance M&A Hits 10-Year Low Amid Political Uncertainty

    The number of global mergers and acquisitions among insurers was at its lowest level for a decade in 2023, according to research published on Monday by Clyde & Co. that shows companies are reacting cautiously to heightened geopolitical risks.

  • February 26, 2024

    Ex-Managing Partner Must Pay £210K Costs In Bias Claim

    A former managing partner of a law firm has lost his latest bid to avoid paying costs, after a tribunal blocked him from relitigating rulings that he hid information while off work with cancer to claim income protection insurance and a share of its profits.

  • February 26, 2024

    UK Unveils Plan For Surplus In £1.4T Pension Sector

    The government has said it is exploring proposals to allow companies to tap into the £1.4 trillion ($1.8 trillion) defined benefit pension sector, but trade bodies and consultants warned that the plan could undermine the security of savers.

  • February 26, 2024

    EU Strengthens Investors' Protection On Investment Funds

    The European Union adopted new rules on Monday for investment funds that are designed to make the market integrate better and strengthen protection for investors.

  • February 26, 2024

    Addleshaw Goddard Hires Macfarlanes Pro For Wealth Team

    Addleshaw Goddard LLP has appointed former Macfarlanes LLP lawyer Laura Uberoi as partner and head of its newly created private wealth team in London.

  • February 23, 2024

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

    This past week in London has seen Tesco target competing retailer Lidl with a copyright claim as they battle in the Court of Appeal over the design of Tesco’s Clubcard, the directors of a taxi business sue the creator of an AI route mapping app for professional negligence, Global Aerospace Underwriting Managers tackle an aviation claim by an Irish investment company, and Robert Bull hit with a general commercial contracts claim by Hancock Finance.

Expert Analysis

  • Series

    Why I Became A Lawyer: Being There For Families In Trouble

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    My parents' contentious, drawn-out divorce was one of the worst experiences of my life. But it taught me how to be resilient — and ultimately led me to leave corporate litigation for a career in family law, helping other families during their own difficult times, says Sheryl Seiden of Seiden Family Law.

  • 3 Ways To Leverage Vulnerability For Lawyer Well-Being

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    Admitting to imperfection is an elusive construct in the legal industry, but addressing this roadblock by capitalizing on vulnerabilities can increase personal and professional power, says life coach and attorney Julie Krolczyk.

  • Zurich Case Brings Clarity To Complex Contempt Proceedings

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    The U.K. Court of Appeal's recent decision in Zurich v. Romaine provides insight into the meaning of "in the public interest" in the context of bringing contempt proceedings against a party or witness who verifies false claims, says Matt Peacock of Signature Litigation.

  • What A No-Deal Brexit Would Mean For Dispute Resolution

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    In the event of a no-deal Brexit, arbitration may become a more attractive option as a dispute resolution mechanism, as it offers relatively easy enforcement and clauses that could negate some uncertainty caused by Brexit, says Donna Goldsworthy of BDB Pitmans.

  • The Problem — And Opportunity — Of Implicit Bias In The Bar

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    Law firms are beginning to recognize implicit bias as a problem. But too few recognize that it is also an opportunity to broaden our thinking and become better legal problem solvers, says Daniel Karon of Karon LLC.

  • Roundup

    Pursuing Wellness

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    In this Expert Analysis series, leaders at some of the law firms that committed to the American Bar Association's 2018 pledge to improve mental health and well-being in the legal industry explain how they put certain elements of the initiative into action.

  • Series

    Why I Became A Lawyer: Expanding The Meaning Of Diversity

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    My conservative, Catholic parents never skipped a beat when accepting that I was gay, and encouraged me to follow my dreams wherever they might lead. But I did not expect they would lead to the law, until I met an inspiring college professor, says James Holmes of Clyde & Co.

  • 2 Perspectives On Navigating The Litigation Funding Process

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    Paul Martenstyn of Vannin Capital and Daniel Spendlove of Signature Litigation share their top tips on how to get a case funded, drawing from their respective experience as a funder and a lawyer.

  • Answers To Key Legal Finance Ethics Questions

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    While there is discussion in some quarters about new regulations on commercial legal finance, the hands-off approach taken by the majority of courts and legislatures is an implicit recognition that it is already sufficiently regulated, says Danielle Cutrona of Burford Capital.

  • Competing Legal Factors Vex Insurance Arbitration Disputes

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    The Fifth Circuit ruled in May that international arbitration policy trumped state insurance law in McDonnel Group v. Great Lakes Insurance. But the courts have been inconsistent in applying conformity-to-statute clauses, the McCarran-Ferguson Act and a related U.S. treaty in the battle between federal preemption and state reverse preemption, says Gilbert Samberg at Mintz.

  • Cannabis Investors Should Beware Money Laundering Risk

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    Even if marijuana-related businesses are in compliance with local laws, their investors are not free of legal risk so long as cannabis remains a controlled drug in other countries, such as the U.K., say Robert Dalling and Wade Thomson of Jenner & Block.

  • Real-Life Lessons For Lawyers From 'Game Of Thrones'

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    What lessons can the various hands, maesters, council members and other advisers in "Game of Thrones" impart to real-life lawyers? Quite a few, if we assume that the Model Rules of Professional Conduct were adopted by the Seven Kingdoms, says Edward Reich of Dentons.

  • UK Firms Should Be Prepared For Government Raids

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    Recent enforcement activity from the Financial Conduct Authority and other regulators highlight the penalties firms face for procedural breaches, and the value in ensuring that employees are well-equipped to handle unannounced inspections, say James Marshall and Sonja Hainsworth of Bryan Cave.

  • 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.

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