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Insurance UK
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May 06, 2025
Greensill, Gupta Get 2027 Trial Date Over $400M Row
Administrators overseeing part of the collapse of Lex Greensill's empire will head to trial in October 2027 to seek $400 million from a Swiss insurance giant that has accused the financier and one of his major former clients, Sanjeev Gupta, of fraud.
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May 06, 2025
Gallagher Boosts Turkish Operations With Aspera Buy
U.S. insurance giant Arthur J. Gallagher & Co. said Tuesday that it has acquired boutique Turkish broker Aspera to support its growth plans in the region, which it described as a "strategic insurance hub" between Asia and Europe.
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May 02, 2025
UK Litigation Roundup: Here's What You Missed In London
This past week in London has seen Premier League football club Newcastle United FC sue the owner of the land next to its stadium, Laurence Fox face a defamation claim by TV presented Narinder Kaur and a further sexual assault claim filed against actor Kevin Spacey.
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May 02, 2025
FCA Proposes Curb On Purchase Of Crypto-Assets On Credit
The Financial Conduct Authority proposed on Friday to restrict how far cryptocurrency companies could go in allowing consumers to buy crypto-assets on credit, part of its planned regulatory regime for the sector.
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May 02, 2025
US Tariffs Spark Concerns for Unhedged Pension Assets
European pension funds that have significant unhedged dollar assets could be in trouble, experts warned Friday, as unprecedented market volatility was sparked imposition of U.S. trade tariffs.
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May 02, 2025
Draft UK Crypto-Regulations Facing Teething Troubles
The government's new crypto-assets regime will be unenforceable across borders and could deter fledgling companies from working in the country, meaning that the financial watchdog will face early challenges to its attempts to protect British consumers in a volatile global marketplace.
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May 02, 2025
Pension Deal Insurance Capacity Outstrips Demand
Eight out of 10 pension deals last year involved a scheme with less than £100 million ($133 million) in assets, due to a major increase in insurer capacity, a consultancy said Friday.
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May 01, 2025
Regulatory Costs Claim 3.3% Of Insurance Brokers' Revenue
Insurance brokers in the U.K. pay an average 3.3% of their annual revenue to cover regulatory costs, compared with only 1.9% paid by insurers, according to research published Thursday by consultant London Economics.
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May 01, 2025
UK Pension Funds Face Scrutiny Over Investment Plans
A parliamentary committee will quiz pensions chiefs as part of a wider probe into whether the £3 trillion ($4 trillion) retirement savings sector can invest more in U.K. assets to better support the country's economic growth.
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May 01, 2025
Cross-Border Payments Firms Lack Transparency, FCA Says
Companies offering international money remittance and cross-border payment services often fail to explain their fees clearly and should consider making improvements under the Consumer Duty, the Financial Conduct Authority said Thursday.
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May 01, 2025
Insurers Underestimating Climate Change, BoE Warns
U.K. insurers must do a better job of reflecting the risk of climate change on their balance sheets, the Bank of England has warned.
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May 01, 2025
UK Gov't Mulling Major Reform To Pensions Protection Fund
The government has confirmed that there are still plans to transform the Pension Protection Fund into a public sector consolidator of retirement savings schemes.
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April 30, 2025
9M Britons Retire With Meager Private Pensions, Report Says
Almost 9 million people in the U.K. enter retirement "significantly under-pensioned," with annual private pension incomes of between £3,650 ($4,870) to £6,750, according to a report by the Pensions Policy Institute.
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April 30, 2025
FCA Says Meta Slacking In The Removal Of Suspect Ads
The Financial Conduct Authority named Facebook owner Meta on Wednesday as the biggest laggard among the big tech companies in terms of responding to requests to take down material from "finfluencers" about whom the watchdog had issued warnings.
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April 30, 2025
UK Finance Sector Calls For Cuts To Audit Regulation
A group of finance and corporate trade bodies urged the government on Wednesday to reduce and simplify regulation of auditors to support U.K. growth.
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April 30, 2025
BoE Weighs Further Action On Funded Reinsurance
The Bank of England said Wednesday that it might consider further action on the offshore reinsurance arrangements used by pension insurers as it seeks to minimize risk to the wider U.K. economy.
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April 30, 2025
Gov't To Push Through Collective Pension Rules In Autumn
The U.K. government said it plans to introduce new regulation in the latter half of the year to allow the introduction of new forms of collective pension plans.
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April 30, 2025
Clyde & Co. Adds Cross-Border Insurance Pro From Brazil
Clyde & Co. LLP has hired a corporate insurance expert as a partner in London, as the firm looks to strengthen its access to the "fast-evolving" and complex Latin American market.
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April 29, 2025
Solicitor Banned For Misleading Clients Over Failed PI Claims
A disciplinary panel has struck off a solicitor after he confessed that he told clients that their personal injury claims had succeeded when they had in fact failed.
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April 29, 2025
FCA Proposes Live AI Testing Service For Firms
The City watchdog proposed on Tuesday a testing service for companies as they check the readiness of their new artificial intelligence tools, a program it believes can help it to better understand the impact of the technology on markets.
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April 29, 2025
Burness Paull Guides £7.5M Pension Deal For Fuel Biz
Aviva PLC has bought out £7.5 million ($10 million) of the pension arrangement liabilities of Gleaner Ltd., advisers said Tuesday, in a deal steered by law firm Burness Paull LLP.
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April 29, 2025
Pensions Watchdog Issues Covenant Warning Amid Tariffs
The U.K.'s retirement savings watchdog warned pension schemes on Tuesday to be mindful of the impact of global trade tariffs as it said it had found that more than half have a funding surplus.
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April 29, 2025
UK Treasury Appoints 4 New FCA Board Members
HM Treasury said Tuesday it has appointed four new members to the board of the Financial Conduct Authority.
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April 29, 2025
FCA Set To Get Enforcement Boost From New Fraud Offense
The new "failure to prevent" fraud offense that comes into force in September will indirectly boost the Financial Conduct Authority's opportunities for enforcement against corporate senior managers, countering its recent retreat from plans to "name and shame" companies it is investigating, lawyers say.
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April 28, 2025
Hogan Lovells Leads Royal London's College Pension Buy-In
The College of Law's retirement scheme has agreed to an £85 million ($114 million) buy-in with Royal London, the U.K.'s largest mutual life, pensions and investment company announced Monday.
Expert Analysis
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Brexit's Impact On London As A Top Int'l Arbitration Seat
Despite concerns that London may be considered a less attractive place to do business post-Brexit, there are many reasons to believe that the city will retain its position as a globally favored arbitral seat, say Adrian Jones and James Wagner at FaegreBD.
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Post-Brexit UK Likely To Conform With EU On Human Rights
In a recent speech, U.K. Foreign Secretary Dominic Raab stated his intent to expand sanctions for human rights violations by extending the so-called Magnitsky amendment, strongly indicating that Britain's exit from the EU would be unlikely to disrupt coordinated efforts to address international transgressions against human rights, says Stephen Baker at Baker & Partners.
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The Evolution Of GDPR Enforcement Across The EU
With the last few months bringing significant fines to major businesses that have breached the European Union's General Data Protection Regulation, it is clear that regulators are moving away from the light-touch approach they employed during the transition to the new rules, says James Simpson of Blaser Mills.
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Series
Why I Became A Lawyer: Being There For Families In Trouble
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.
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3 Ways To Leverage Vulnerability For Lawyer Well-Being
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.
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Zurich Case Brings Clarity To Complex Contempt Proceedings
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.
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What A No-Deal Brexit Would Mean For Dispute Resolution
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.
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The Problem — And Opportunity — Of Implicit Bias In The Bar
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.
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Roundup
Pursuing Wellness
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.
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Series
Why I Became A Lawyer: Expanding The Meaning Of Diversity
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.
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2 Perspectives On Navigating The Litigation Funding Process
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.
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Answers To Key Legal Finance Ethics Questions
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.
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Competing Legal Factors Vex Insurance Arbitration Disputes
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.
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Cannabis Investors Should Beware Money Laundering Risk
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.
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Real-Life Lessons For Lawyers From 'Game Of Thrones'
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.