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 21, 2024

    DWF Hires Clyde & Co. Pro David Wynn As New Partner

    DWF LLP has bolstered its global insurance practice by hiring David Wynn as a new partner from Clyde & Co. LLP, where he headed the global legacy solutions practice for the past 10 years.

  • 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.

Expert Analysis

  • 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.

  • Where The Post-Libor Litigation Tsunami Will Hit

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    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

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    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

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    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.

  • Guest Feature

    Preet Bharara On The Human Factor In The Justice System

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    A key theme in Preet Bharara's new book is the enormous role the human element plays in the administration of justice. The former U.S. attorney for the Southern District of New York discussed this theme, among other topics, in a recent conversation with White and Williams attorney Randy Maniloff.

  • Considering A More Cost-Effective Future For The SFO

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    In light of multiple recent examples of U.K. Serious Fraud Office investigations yielding far less than the agency may have hoped for, a new approach to prosecuting individuals and corporations may be a smart investment, says Azizur Rahman of Rahman Ravelli.

  • Lessons From Carphone Warehouse's Partial FCA Settlement

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    In the first case decided under the U.K. Financial Conduct Authority's new partial settlement process, Carphone Warehouse demonstrates not only the possible value of cooperating with authorities but also the cost of failing to right previous wrongs, says Syedur Rahman of Rahman Ravelli Solicitors.

  • Collective Redress In The EU: Past, Present And Future

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    Legislative processes harmonizing collective redress throughout the European Union have accelerated, leading to a proposed requirement that all member states establish collective action mechanisms, but some worry that the directive lacks sufficient guarantees against abusive litigation, say Philippe Métais and Elodie Valette of White & Case LLP.

  • Lenders Score Major High Court Victory In Foreclosure Case

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    The U.S. Supreme Court's unanimous ruling on Wednesday in Obduskey v. McCarthy & Holthus LLP removes nearly all activities taken by creditors seeking nonjudicial foreclosure of liens and mortgages from the ambit of the Fair Debt Collection Practices Act, says John Baxter of Nelson Mullins Riley & Scarborough LLP.

  • 3 Brexit Scenarios And Their Implications For US-UK Trade

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    Brexit negotiations are likely to result in one of three scenarios later this month: a Brexit deal, no Brexit at all or a "hard" no-deal Brexit. Each possibility will have different implications for the prospects of a U.S.-U.K. free trade agreement, says Dean Pinkert of Hughes Hubbard & Reed LLP.

  • Frustrating Events: Are Your Contracts Brexit-Proof?

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    In Canary Wharf v. European Medicines Agency, the U.K. High Court recently ruled that the U.K.'s withdrawal from the European Union will not discharge the EMA's lease obligations. Following Brexit, most similar arguments invoking force majeure or frustration are unlikely to succeed, say Rebecca Dipple and Wayne Hofer of Orrick Herrington & Sutcliffe LLP.

  • Simple Secrets For Writing A Killer Brief

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    These days, the legal profession offers meager opportunity for oral argument, so we need to focus on being better, brighter, tighter writers. And the key to writing a better brief is grabbing your judge's attention with a persuasive, well-crafted story, says Daniel Karon of Karon LLC.

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