We use cookies on this site to enable your digital experience. By continuing to use this site, you are agreeing to our cookie policy. close

Insurance UK

  • February 20, 2019

    Historic Resort Sues Insurers After '1,000-Year' Flood

    The landmark Greenbrier resort has sued a slew of insurers in West Virginia federal court following a “thousand-year” flood that ravaged its hotel and golf courses, claiming the companies failed to honor a $600 million insurance policy and demanding $375 million in damages.

  • February 20, 2019

    What To Watch For When A UK Client Faces A US Probe

    Cooperation between British and American authorities has become the new norm, raising the stakes for companies facing a cross-border investigation to keep both sides happy without fostering complications down the road. Here are a few issues corporate counsel need to know when facing a trans-Atlantic probe.

  • February 20, 2019

    UK Pensions Watchdog Authorizes 1st Multiemployer Scheme

    Britain's pensions regulator said Wednesday that it has authorized the U.K.'s first multiemployer pension scheme under new, tougher standards aimed at protecting almost 14 million retirement savers.

  • February 20, 2019

    Misselling Scandal Costs Lloyds Bank £750M In 2018

    Lloyds Banking Group PLC revealed Wednesday it set aside £750 million ($980 million) in 2018 to deal with customers rushing to claim they were missold controversial payment protection insurance before a deadline in August.

  • February 20, 2019

    FCA Spares Wholesale Insurers From Competition Sanctions

    The Financial Conduct Authority offered relief to the U.K.’s wholesale insurance brokers on Wednesday, saying it will not introduce “intrusive” remedies to promote competition in the market, although the watchdog said businesses must do better.

  • February 20, 2019

    Unknown Driver Can't Be Sued For Crash, Top UK Court Says

    A woman injured in a hit-and-run accident cannot sue the unidentified driver at fault for the crash if that person is known only by a fictitious name or general description, and cannot pursue the insurer instead, Britain's highest court ruled Wednesday.  

  • February 19, 2019

    $30M Shipping Insurance Suit Stayed After Parties Settle

    A group of Bermuda-based shipping container companies have settled a lawsuit they brought in London's High Court against eight insurers after a client entered insolvency with millions of dollars' worth of insurance balances outstanding, according to new court documents.

  • February 19, 2019

    Defunct Brokers Refine Negligence Suit Against Auditor

    A group of defunct insurance brokers have filed an amended negligence lawsuit against London-based accountancy and advisory firm Adler Shine LLP after the lead claimant Allanfield Group PLC discontinued its claim and confirmed it would not seek relief in the proceedings.

  • February 19, 2019

    EU Says UK Insurers Should Stop Selling Policies In The Bloc

    Europe’s top insurance regulator on Tuesday called on the bloc’s national supervisors to put in place measures that will safeguard EU policyholders if Britain crashes out of the bloc without a deal, including preventing U.K. insurers from selling new cover in member states.

  • February 19, 2019

    AIG Gets More Time In £229M Italian Highway Fight

    A London judge has given AIG Europe SA until mid-April to explain why its lawsuit accusing an Austrian construction company of failing to repay £229 million ($296 million) it issued to finance the construction of a motorway in northern Italy should be heard in England. 

  • February 19, 2019

    EU Regulator Turns Focus To UK Clearinghouses' Brexit Plans

    Europe’s top securities regulator said on Tuesday that it will focus on ensuring U.K. clearinghouses can process EU trades after March, as well as helping the bloc’s trade repositories and credit ratings agencies execute their plans for dealing with Brexit during 2019.

  • February 19, 2019

    Insurer Aviva's €9B Brexit Transfer Scheme Gets Nod

    Aviva PLC can transfer its €9 billion ($10.15 billion) European business from the U.K. to Ireland to address concerns that a hard Brexit will disrupt operations in the bloc, a judge in London ruled on Tuesday, as the insurer becomes the latest to ink a backup plan ahead of March 29. 

  • February 18, 2019

    Playboy Star Sentenced For Hiding Fraud From New Insurers

    An actress who starred in a Playboy film has been sentenced for fraud after failing to disclose a previous conviction for falsely claiming £44,000 ($57,000) in benefits when she applied for multiple new insurance policies, City of London Police said Monday.

  • February 18, 2019

    Insurers Should Pay Out On 'Piracy' Blast, Greek Bank Says

    A group of 10 insurers are liable for losses suffered by Piraeus Bank AE after an oil tanker it had an interest in was destroyed by an explosion off the coast of Yemen in 2011, the Greek lender’s lawyers argued at a London court on Monday.

  • February 18, 2019

    Judge Puts Seafood-Shipping Insurance Dispute On Ice

    A judge in London has stayed an insurance dispute over nearly 2,000 cartons of frozen shrimp that were allegedly damaged while being shipped from Madagascar to France, noting in his order that the postponement comes at the request of the company that filed suit.

  • February 18, 2019

    GDPR Prompts New Deal Between UK Data, City Watchdogs

    The U.K.'s data protection and financial watchdogs revised their promise to work together on Monday, agreeing to share information that either agency uncovers during an investigation as long as it complies with new European data protection rules. 

  • February 18, 2019

    EU To Allow UK CCPs To Clear Euro Trades In No-Deal Brexit

    The European Union’s top securities regulator said on Monday that it will allow three British-based securities clearinghouses to continue serving the bloc’s financial businesses for a year in the event of a “no deal” Brexit on March 29, in a move aimed at containing potential market turmoil.

  • February 15, 2019

    Zurich Opposes Covering $300M Lead Pollution Settlement

    Insurer Zurich American asked a St. Louis federal court Thursday to free it from helping a policyholder pay $300 million in legal settlements over poisonings and pollution in a small Missouri town that was home to the nation’s last lead ore smelter.

  • February 15, 2019

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

    The last week has seen the European arm of a Japanese investment bank sue a Saudi billionaire, the former prime minister of Qatar face action involving a pricey mansion and a Swiss bank file claims against executives of a defunct business group being investigated by the U.K.'s fraud watchdog. Here, Law360 looks at those and other new claims in the U.K.

  • February 15, 2019

    Gov't Invests In AI Project To Detect Bogus Insurance Claims

    The U.K. government said Friday it will invest £13 million ($16.6 million) into dozens of new artificial intelligence and data analytics projects that include efforts to tackle the billions of pounds' worth of insurance fraud that takes place in the country each year.

Expert Analysis

  • Is It Time To Prosecute UK Cos. For Human Rights Violations?

    Author Photo

    The idea of holding companies criminally liable for human rights abuses committed overseas has gained traction over the past decade. Though the U.K. government has made it clear that it has no immediate plans for further legislation in this area, calls for corporate criminal liability are only likely to get louder, say Andrew Smith and Alice Lepeuple of Corker Binning.

  • 6 Trends Will Shape Future International Commercial Disputes

    Author Photo

    The world of international litigation and arbitration tends to move slowly — however, I expect the pace of change to accelerate in the coming decade as six trends take hold, says Cedric Chao, U.S. head of DLA Piper's international arbitration practice.

  • Fortis Case Confirms Viability Of Dutch Settlement Law

    Author Photo

    A Dutch court's approval this month of a €1.3 billion ($1.5 billion) collective settlement of claims brought by shareholders of the former Fortis shows that the Dutch Act on Collective Settlement of Mass Claims can be used to resolve transnational disputes on a classwide, opt-out basis, say Jonathan Richman of Proskauer Rose LLP and Ianika Tzankova of Tilburg University.

  • UK Reflective Loss Rule Impedes Shareholder Recovery

    Author Photo

    The U.K. High Court's recent decision in Breeze and Another v. Chief Constable of Norfolk illustrates the great difficulty shareholders face when trying to recover loss caused by a wrong done to a company, especially if the company is unwilling or unable to pursue the claim itself, say David Gerber and Joshua Reynolds of Arnold & Porter.

  • Opinion

    Law360's Global 20 Doesn't Acknowledge Global Networks

    Author Photo

    While I read with interest Law360's report analyzing the top 20 global law firms of 2018, I also noticed it doesn't tell the whole story. Global networks of independent law firms compare favorably with multinational firms in terms of geographic coverage, legal expertise, and awareness of local cultures and customs, says Glenn Cunningham of Interlaw Ltd.

  • Despite Brexit, Business As Usual For FCA

    Author Photo

    The U.K. Financial Conduct Authority has acknowledged that Brexit will present challenges, and will set aside some resources in preparation, but its business plan for 2018-2019 sends a strong message that there will be no let-up when it comes to detecting and prosecuting market abuse, says Ben Ticehurst of Rahman Ravelli Solicitors.

  • The Final Word On No Oral Modification Clauses In The UK

    Author Photo

    The U.K. Supreme Court's recent decision in Rock v. MWB came down on the side of commercial certainty, establishing that "no oral modification" clauses mean exactly what they say. Nonetheless, the decision may lead to some problematic cases, say Kathryn Rowe and Peter McMaster QC of Appleby Global.

  • EU's Proposed Premarketing Rules May Disrupt Fundraising

    Author Photo

    The European Commission's proposal to amend key European fund management directives introduces new conditions for premarketing a fund in the EU. Unless this proposal is substantially loosened, managers may risk increased regulatory scrutiny if they continue with current fundraising practices, says John Young of Ropes & Gray LLP.

  • UK Overseas Territories Disclosure Rule May Be Premature

    Author Photo

    Section 51 of the U.K.'s new Anti-Money Laundering Act imposes public beneficial company ownership registers in the British overseas territories. A general push for enhanced disclosure can only be welcomed, but this particular initiative may not be the correct means to reach a worthy goal, say Ian Hargreaves and Stephanie Sarzana of Covington & Burling LLP.

  • Myths And Facts About Using TAR Across Borders

    Author Photo

    Many legal teams involved in cross-border matters still hesitate to use technology assisted review, questioning its ability to handle non-English document collections. However, with the proper expertise, modern TAR can be used with any language, including challenging Asian languages, say John Tredennick and David Sannar of Catalyst Repository Systems.