Insurance UK

  • August 09, 2024

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

    This past week in London has seen China Evergrande Group file a commercial fraud claim against its founder's ex-wife, legal action by Manolete Partners against the directors of an insolvent construction company, VietJet tackle a claim by French banking group Natixis and more developments in the "Dieselgate" scandal. Here, Law360 looks at these and other new claims in the U.K.

  • August 09, 2024

    Plane Stuck In Russia 'Not Lost,' Reinsurers Argue

    A batch of reinsurers has denied they must pay out in a row over $44 million to cover the alleged loss of a plane leased to a Russian airline, arguing the plane is not lost and would not be covered by the policy.

  • August 09, 2024

    UK Tightens Disclosure Rules For Greensill-Type Finance

    The U.K.'s accounting watchdog on Friday set out amendments to reporting exemptions from international accounting standards available to subsidiaries of groups, including around disclosure of supplier finance arrangements, as used by collapsed Greensill Capital.

  • August 09, 2024

    The Top Commercial Dispute Trials & Rulings Of 2024 So Far

    So far in 2024 disputes lawyers have been treated to the first trial in the U.K. of an opt-out collective action, the Pope's chief of staff giving evidence, and Mozambique being awarded more than $825 million for the tuna bond scandal.

  • August 09, 2024

    FCA Warned Over Risks From Value-For-Money Pension Rules

    The Financial Conoduct Authority's new "traffic light" system for assessing the value-for-money offered by a pension scheme could create unintended consequences, experts warned Friday.

  • August 09, 2024

    Hargreaves Lansdown Agrees To £5.4B CVC Takeover Offer

    Hargreaves Lansdown PLC said Friday that its board has agreed to a £5.4 billion ($6.9 billion) take-private offer from a consortium of private equity companies, including CVC and the sovereign wealth fund of Abu Dhabi.

  • August 08, 2024

    EU Watchdog Finds Poor Practices In Nonbank Lenders

    The European Union's banking watchdog has found that nonbank lenders are often failing to verify the accuracy of information they gather on borrowers, helping to put them in too much debt.

  • August 08, 2024

    Finance Co. Botched Risk Outline In Fire Claim, Insurer Says

    A subsidiary of U K Insurance Ltd. has denied having to pay out on a policy with Parker Asset Management Ltd. over a fire that destroyed a property costing around £4.2 million ($5.3 million), saying the company did not fairly present its insurance risk.

  • August 08, 2024

    Insurer Hiscox Puts Aside $28M To Cover Baltimore Bridge

    Insurance giant Hiscox said it has put aside $28 million to pay potential claims from the collapse of the Francis Scott Key Bridge in Baltimore earlier this year.

  • August 08, 2024

    UK Gov't Refunds £57M In Pension Freedoms Overtaxation

    The government has been forced to repay £59.6 million ($75.5 million) in the three months between April and June to people who overpaid tax after they tapped into their pensions for the first time, according to HM Revenue and Customs.

  • August 08, 2024

    FCA Proposes Framework For Long-Term Pensions Value

    The finance watchdog has said it is planning a new "traffic light" guide for retirement investment plans as it seeks to improve long-term value in workplace pensions, shifting the emphasis for providers from a simple consideration of costs.

  • August 07, 2024

    Chubb, Fidelis Deny Liability For Planes Stranded In Russia

    Two insurers have separately denied they are liable for $325 million in losses claimed by a group of aircraft leasing businesses stemming from jets grounded in Russia after its invasion of Ukraine.

  • August 07, 2024

    Crypto-Asset Firms Must Improve On Compliance, FCA Says

    The financial watchdog said Wednesday it has found that more work "needs to be done" to improve compliance with new marketing rules in many cases at crypto-asset companies

  • August 07, 2024

    Aon Calls For More Transparency On Funded Reinsurance

    Broking giant Aon PLC said Wednesday it was concerned about the lack of public disclosure requirements on offshore risk-sharing contracts, ahead of new regulation for life insurers due to come into force later this year.

  • August 07, 2024

    FCA Expands Leeds Office With 100 More Employees

    Britain's financial watchdog announced plans on Wednesday to expand its presence in Leeds by adding 100 new employees to its workforce in the northern English city, reflecting the emergence of the region as a second financial center.

  • August 07, 2024

    Insurer Loses Appeal Over Romanian License Withdrawal

    Euroins Insurance Group AD has lost its bid to challenge a refusal by the European Insurance and Occupational Pensions Authority to investigate why the Romanian Financial Supervisory Authority withdrew the operating license of a subsidiary, the EU-wide regulator said Wednesday.

  • August 07, 2024

    Gov't Urges Pension Plans To Feed Infrastructure Spending

    The government said Wednesday that it wants the U.K. to adopt a Canadian-style model for pensions, with a handful of megafunds investing in vital infrastructure projects to "fire up" the economy.

  • August 07, 2024

    Womble Bond Steers £20M Pension Deal For Landlord Biz

    Aviva PLC said Wednesday that it has covered the full £20 million ($25.4 million) of pensions liabilities for a subsidiary of Grainger PLC, a residential property manager in the build-to-rent sector.

  • August 07, 2024

    EY Sanctioned For Breaching Fee Cap Over Russian Client

    The accounting watchdog said Wednesday that it has ordered Ernst & Young LLP to pay just over £251,000 ($319,000) for breaching a fee cap on work it carried out for Evraz, a steel and mining group based in Russia.

  • August 06, 2024

    Insurer Loses Bid To Ax 'Time Barred' Housing Assoc. Claim

    A London judge on Tuesday dismissed an insurer's bid to strike-out a claim from a housing association over the insurance company's alleged failure to cover additional costs after a building contractor went bust, ruling that the action was not time-barred.

  • August 06, 2024

    Senior SFO Official Heads For Exit After Less Than 2 Years

    The Serious Fraud Office's chief operating officer is set to leave after less than two years on the job, leaving a vacancy at the top of the white-collar crime prosecutor as it undergoes a shake-up in leadership.

  • August 06, 2024

    Pension Body Urges Sector Tech Overhaul After CrowdStrike

    The pension industry must take steps to bolster its data security or else put the life savings of millions of Britons at risk, experts warned Tuesday.

  • August 06, 2024

    Eversheds Steers Sale Of Kodak Unit By Pensions Lifeboat

    The U.K. Pension Protection Fund has sold a business unit of photography giant Kodak to U.S. private equity firm Kingswood Capital Management in a deal steered by Eversheds Sutherland and Kirkland & Ellis LLP.

  • August 06, 2024

    Alternative Investor Great Point Enters Into Liquidation

    Alternative investment fund manager Great Point Investments Ltd. has wound up its operations and liquidated its assets to pay off creditors after its parent company became insolvent, the financial watchdog said Tuesday.

  • August 06, 2024

    Brown & Brown Buys Trade Credit Insurance Specialist

    Brown & Brown (Europe) Ltd. said Tuesday that it has bought trade credit insurance broker The CI Group Holdings Ltd. to expand its services for lenders and the small and midsized businesses in the U.K.

Expert Analysis

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

    Author Photo

    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

    Author Photo

    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

    Author Photo

    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

    Author Photo

    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

    Author Photo

    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

    Author Photo

    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

    Author Photo

    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

    Author Photo

    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'

    Author Photo

    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

    Author Photo

    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

    Author Photo

    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

    Author Photo

    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.

  • Where The Post-Libor Litigation Tsunami Will Hit

    Author Photo

    The permanent cessation of the Libor rate in 2021 will likely trigger a flood of litigation over many existing contracts that lack effective replacements. Marc Gottridge of Hogan Lovells identifies the types of products that may be most susceptible to disputes.

  • Despite Decline In Cyberattacks, UK Cos. Should Stay Vigilant

    Author Photo

    The U.K. Department for Digital, Culture, Media and Sport's latest cybersecurity survey shows that U.K. cyberattacks have decreased in the last 12 months, likely thanks in part to the General Data Protection Regulation. But companies' cybersecurity efforts should continue to evolve, say experts at PriceWaterhouseCoopers.

  • UK Antitrust Watchdog Proposals Would Bolster Enforcement

    Author Photo

    The U.K. Competition and Markets Authority's proposals for reshaping competition enforcement and consumer protection would shift the historical balance in U.K. competition policy, increasing regulatory burden on companies while weakening judicial scrutiny of CMA actions, says Bill Batchelor of Skadden.

Want to publish in Law360?


Submit an idea

Have a news tip?


Contact us here
Can't find the article you're looking for? Click here to search the Insurance UK archive.
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!