Insurance UK

  • March 26, 2024

    Top Court Ruling In 'Whiplash' Test Case Could Hit Premiums

    Personal injury claimants could get higher payouts from their motor insurance as a result of a test case ruling at Britain's highest court on Tuesday, although analysts warn that insurers could respond with higher premiums to cover the cost of bigger claims.

  • March 26, 2024

    Over Regulation Restricted Defined Benefit Pensions, MPs Say

    The government should change the focus of the U.K.'s pension watchdog, lawmakers said Tuesday, warning that years of excessive caution on regulation has nearly wiped out the country's remaining defined benefit retirement plans.

  • March 26, 2024

    FCA Warns 'Finfluencers' To Keep Promotional Ads Lawful

    Britain's finance watchdog reminded firms on Tuesday that they are responsible for all of their promotions, especially when working with so-called finfluencers, who offer advice and information on financial topics on social media platforms.

  • March 26, 2024

    UK Clears £1.2B Atlanta-Markerstudy Insurance Broker Merger

    Britain's antitrust authority said Tuesday it has cleared the planned merger between Atlanta Group and Markerstudy, a deal that values Ardonagh's home and car insurance business at £1.2 billion ($1.5 billion), after finding that the deal will not harm competition in domestic markets.

  • March 26, 2024

    Insurers Lose Whiplash Test Case At Top UK Court

    Insurers will probably have to pay more to accident victims suffering whiplash and another injury, after the U.K.'s top court ruled Tuesday that any reductions for overlapping injuries should not leave claimants worse off than before reforms were introduced.

  • March 25, 2024

    FCA Warns Fund Managers Over Third-Party Supervision

    The Financial Conduct Authority said on Monday it has found failings in how some hedge fund managers rely on third parties to help manage the fund, possibly undermining efforts to prevent financial crime. 

  • March 25, 2024

    Ship Owners Win $37M Naval Detention Insurance Fight

    The owners of a cargo ship seized by the Indonesian navy can recover $37 million from insurers, a judge ruled Monday, saying the shipmaster should not have expected to be detained for accidentally anchoring in the country's waters.

  • March 25, 2024

    UK Firms To Get More Influence On Pension Fund Investing

    British companies will probably enjoy greater sway over the investment decisions taken by their pension plans under new rules being considered by The Pensions Regulator, a consultancy said on Monday.

  • March 25, 2024

    Law Firm Closures Hit Lowest Since 2019 As Premiums Dip

    Closures of law firms have fallen to the lowest level since October 2019 as more businesses negotiate their professional indemnity insurance premiums amid a general fall in insurance costs, research published on Monday suggested.

  • March 25, 2024

    PE Firms Fuel 30% Rise In 2023 European Insurance M&A

    The number of deals involving European insurance businesses rose by 30% last year, fueled by an increased role of private equity financing in the sector, a consultancy said Monday.

  • March 25, 2024

    Ageas Drops £3.2B Direct Line Offer After Pushback

    Belgian-French insurer Ageas has pulled its £3.2 billion ($4 billion) proposed bid for Direct Line after the British rival continued to snub its offers.

  • March 22, 2024

    Money Laundering Ringleader Jailed For £560K Bank Con

    A fraudster who set up sham carpet and furniture businesses as part of a money laundering scheme that lost banks £560,000 ($705,000) has been jailed for six years and four months, the U.K.'s Insolvency Service said Friday.

  • March 22, 2024

    Glencore Cannot Deny Knowing It Was Corrupt, Investors Say

    Glencore cannot claim it "reasonably believed" it was telling the truth when it failed to disclose it orchestrated a global bribery scheme during an initial public offering that raised $10 billion, institutional investors suing the mining and trading group have said.

  • March 22, 2024

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

    This past week in London has seen the BBC and Wall to Wall Media hit with a passing off lawsuit by musician BOSSIIE, Poundland parent company Pepco Group file a commercial fraud claim against several mobile network giants, family law specialists Alexiou Fisher Philipps LLP start proceedings against former oil trader Michael Prest, and a transgender lawyer file a libel claim against a blogger. Here, Law360 looks at these and other new claims in the U.K.

  • March 22, 2024

    4 Charged For Unregulated Water Investment Scam

    The Financial Conduct Authority said Friday it has charged four individuals with allegedly defrauding investors out of £3.9 million ($4.9 million) in an unregulated water investment scheme.

  • March 22, 2024

    Audit Agency Backs Gov't Non-Financial Reporting Reforms

    The Financial Reporting Council voiced its support for the U.K. government's plans to update non-financial reporting requirements on Friday, emphasizing the importance of simplifying the framework to help companies access capital.

  • March 22, 2024

    UK Gov't Finds £571.6M State Pension Shortfall

    The government has discovered it has underpaid pensioners to the tune of £571.6 million ($721.2 million), but experts say the figure is only a fraction of the expected total shortfall.

  • March 22, 2024

    4 Years On, COVID Lockdown Cover Claims Near Endgame

    It has been four years since the U.K. first entered lockdown to combat COVID-19, leaving offices eerily empty and shops shuttered. And lawyers now believe that the end is near for business interruption claims against insurers.

  • March 28, 2024

    White & Case Hires 2nd Funds Pro From Ropes & Gray

    White & Case LLP has recruited a private funds lawyer from Ropes & Gray LLP — the second time it has hired a specialist as a partner from the London office of its U.S. rival in recent months.

  • March 21, 2024

    UK Insurance Tax Bill Rises To £8.1B Amid Soaring Premiums

    The Insurance Premium Tax raised more than £8.1 billion ($10.3 billion) so far this financial year, according to official figures Thursday, while premiums continue to rise.

  • March 21, 2024

    Women 'Owed' Compensation Over State Pension Failings

    Women who were affected by the U.K. government's failure to inform them that their retirement age had changed are owed compensation for the state's failings, according to a much-anticipated report released Thursday by the parliamentary ombudsman.

  • March 21, 2024

    Audit Watchdog To Probe UK Sustainability Assurance Market

    The Financial Reporting Council on Thursday said it would be studying the quality of sustainability assurance services in the U.K. to ensure the market is providing high-quality guarantees over companies' reporting.

  • March 21, 2024

    British Safety Council Calls For A Minister For Well-Being

    The British Safety Council has urged the government to appoint a well-being minister to promote welfare in the workplace at a time when illness is at a 10-year high and recent surveys suggest high stress levels and burnout among workers.

  • March 21, 2024

    FCA Tells Consumer Lenders To Detect Financial Crime Better

    The City watchdog has warned chief executives of consumer lending firms that they must improve on their detection of financial crime.

  • March 21, 2024

    ECJ Adviser Rejects Taxing Foreign Pension Funds Differently

    Taxing dividends paid to foreign public pension funds while exempting dividends paid to the source country's general retirement savings funds contravenes European Union law, an adviser to the bloc's highest court said Thursday, backing Finnish pension funds' challenge of a Swedish law.

Expert Analysis

  • How Proposed EU Class Action Directive Could Affect Insurers

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    Insurers should beware the explosive potential of the EU's proposed directive providing for cross-border class actions and third-party funding for such actions, although it also bears strict requirements that will limit the number of cases, say Emmanuèle Lutfalla and Simon Fitzpatrick at Signature Litigation.

  • COVID-19 Insurance Considerations For UK Cos.

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    Though a new U.K. regulation recently made it easier for businesses to claim losses related to COVID-19, potential points of contention when seeking insurance coverage include whether the government ordered the business to close and whether an outbreak occurred at the premises, say attorneys at Covington.

  • UK Group Data Breach Claims Pose Big Financial Risks

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    Recent English court decisions appear to make it easier for data breach victims to bring collective actions, and consequently companies may find they are liable for huge sums in addition to fines under the General Data Protection Regulation, say attorneys at Morrison & Foerster.

  • A Crucial Chance For UK Supreme Court To Clarify Arbitrator Bias

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    In Halliburton v. Chubb, the U.K. Supreme Court has an opportunity to tackle uncomfortable questions and support confidence in London's arbitration sector by policing effectively against bias and impartiality when arbitrators are involved in multiple tribunals, says Rosie Wild at Cooke Young.

  • Rebuttal

    Legal Industry Should Pursue AI Prediction Progress

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    As part of the debate prompted by my recent Law360 guest article on legal prediction using artificial intelligence, I would like to unpack four issues and suggest that attorneys and technologists continue to tackle the problems presently within reach, says Joseph Avery at Claudius Legal Intelligence.

  • Rebuttal

    AI Can't Accurately Predict Case Length And Cost — Yet

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    A recent Law360 guest article argued that artificial intelligence can precisely estimate the length and cost of a new case, but several limitations will likely delay truly accurate predictions for years to come, says Andrew Russell at Shaw Keller.

  • What To Expect During The Brexit Transition Period

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    While all formal ratification procedures for the U.K.'s departure from the European Union have been completed, the transitional period will bring an enormous range of trade, customs and regulatory issues, say attorneys at Mayer Brown.

  • Opinion

    Legal Prediction Is Demanding But Not Impossible

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    The New Jersey Supreme Court’s recent decision in Balducci v. Cige incorrectly concluded that predicting the length and cost of a case is nearly impossible, and overlooked artificial intelligence's ability to do so, says Joseph Avery with Claudius Legal Intelligence.

  • Surefire Marketing Methods To Build Your Legal Practice

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    Attorneys who take the time and the risk to showcase their talents through speaking, writing and teaching will find that opportunities will begin building upon themselves, says Daniel Karon of Karon LLC.

  • Mandatory Mediation May Lie Ahead For England And Wales

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    The U.K. Court of Appeals' decision in Lomax v. Lomax, among other recent developments, show significant judicial support for compulsory mediation of appropriate civil and commercial cases in England and Wales, say Margarita Michael and Grace Spurgeon of O'Melveny.

  • Key Risks And Developments For UK Law Firm Culture In 2020

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    In 2020, law firms throughout the U.K. will be increasingly reshaped by rapid changes in societal expectations and advances in technology, say Helen Rowlands and Niya Phiri of Clyde & Co.

  • Cos. Can Start Preparing Now For Immigration Beyond Brexit

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    Ahead of the U.K.'s likely departure from the European Union on Jan. 31, 2020, companies should use the one-year transition period to help workers understand any new registration requirements, evaluate budgetary concerns and expedite any employee relocations, say Julia Onslow-Cole and Charlotte Wills at Fragomen.

  • #MeToo Pressure On UK Businesses Is Set To Rise

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    Recent declarations by the Financial Conduct Authority and Prudential Regulation Authority indicate that sexual harassment in the U.K.'s financial services industry may lead to consequences under the newly expanded Senior Managers and Certification Regime, and other sectors are facing growing scrutiny as well, say attorneys at Covington.

  • Opinion

    UK's Insurer Investigations May Not Help Policyholders

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    The U.K. Ministry of Justice's recent investigations into insurers suspected of not passing on savings to consumers suggests insurers may see consequences for their hollow promises, but only if the government follows through to hold insurers accountable, says Tom Jones of Thompsons Solicitors.

  • The Outlook For Autonomous Vehicles In The UK And US

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    As both the U.K. and U.S. governments continue to develop regulatory frameworks for autonomous vehicles, manufacturers can take certain steps to avoid litigation and manage risk, say attorneys at FaegreBD.

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