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Insurance UK
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May 20, 2025
Pensions Watchdog Launches Initiative To Boost Innovation
The Pensions Regulator has established a new service to support the development of industry ideas on products and services after the government ordered it to come up with ways to boost economic growth.
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May 20, 2025
5 Firms Hold Half Of £40B UK Pension Surplus
Just five companies among the top 100 businesses in Britain account for half of the combined £40 billion ($53.5 billion) surplus in the country's pension plans, a consultancy said Tuesday.
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May 19, 2025
L&G Buys 75% Of US Property Investor Proprium Capital
Legal & General said Monday that it has acquired a 75% stake in Proprium Capital Partners, a real estate private equity firm, to accelerate its growth and expand its geographic footprint in the European and Asian property sector.
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May 19, 2025
Aviva To Use AI Tool To Map Cyberthreat Behavior
Insurance giant Aviva PLC on Monday said it has begun using artificial intelligence tools to map the cyberthreats the companies in its portfolio are most exposed to.
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May 19, 2025
Gov't Warned Over Mandating UK Pension Funds' Investment
The government must avoid introducing a legal requirement on U.K. pension plans to invest a proportion of their funds in domestic assets, a consultancy has warned.
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May 19, 2025
Big Tech Is Major Obstacle To Stopping UK Financial Fraud
Anti-fraud campaigners are calling on the government to fine Big Tech companies such as Meta on repeated failures to prevent fraudulent financial advertising on their platforms with a tougher and wider regime than envisaged, with the consensus that social media is the biggest obstacle to combating investment scams.
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May 19, 2025
Third Of Britons Have Under £10K In Pension Pots, FCA Says
One-third of U.K. adults with a defined contribution pension plan have less than £10,000 ($13,400) accumulated in retirement savings, the Financial Conduct Authority has said.
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May 16, 2025
25% Of UK Pension Plans Rethink US Exposure Over Tariffs
A quarter of U.K. defined benefit pension schemes are considering pulling back from U.S. assets and dollar exposure amid ongoing uncertainty created by the recent tariffs imposed by President Donald Trump, Willis Towers Watson PLC says.
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May 16, 2025
UK Litigation Roundup: Here's What You Missed In London
This past week in London has seen Linklaters and EY face negligence claims from a fintech investment firm, property developer Sir John Ritblat bring legal action against a Guernsey-registered company, and fresh equal pay litigation filed against Morrisons and Safeways. Here, Law360 looks at these and other new claims in the U.K.
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May 16, 2025
EU Watchdog Quizzes Insurers On Generative AI Governance
The insurance watchdog for Europe has launched an investigation into how insurers use generative artificial intelligence and what controls are in place.
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May 16, 2025
Only 4 Pension Groups Linked To Gov't 'Dashboards' So Far
Only four of the 20 pensions organizations voluntarily involved in linking to the government's long-awaited "dashboards" project have so far completed their connection, the organization behind the program has said.
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May 16, 2025
UK Gov't Admits Jump In Errors Over State Pension Payouts
The government has admitted that its rising levels of errors have led to underpayment of state pensions, even though it has spent years and hundreds of millions of pounds trying to correct earlier mistakes.
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May 16, 2025
Investor Pulls De La Rue Bid Amid Competing Offer
Two investors, Pension SuperFund and Disruptive Capital, have pulled their bid of approximately £260 million for De La Rue after the banknotes maker backed a rival £263 million offer from U.S. investment firm Atlas Holdings LLC.
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May 15, 2025
Gov't Urged To Overhaul Scam Rules Amid Pension Delays
The government must reform its scam protection regulations in the face of spiraling delays in transferring pension savings, a retirement savings provider warned Friday.
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May 15, 2025
UK Floats Local Gov't Pension Fixes To Tackle Discrimination
The U.K. government on Thursday proposed making all maternity, shared parental and adoption leave automatically pensionable for members in the Local Government Pension Scheme, among a raft of changes it said would boost benefits and end "years of discrimination."
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May 22, 2025
Freeths Hires Pensions Specialist From Simmons & Simmons
Freeths has hired James Dean, a pensions specialist from Simmons & Simmons LLP, to lead the growth and development of the firm's national pensions practice.
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May 15, 2025
Legal Costs Insurer On The Hook For £83K Payout To Ex-Exec
A legal expenses insurer could owe more than £80,000 ($106,000) to a former executive after a tribunal found that his insolvent employer's prolonged failure to pay wages and commission amounted to a fundamental breach of contract.
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May 15, 2025
Ex-Managing Partner Fights To Redo Costs After Bias Case
The former managing partner of a law firm argued Thursday that a tribunal failed to consider his ability to pay up to £210,000 ($278,8300) after he tried to claim both income protection insurance and a share of its while off sick with cancer.
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May 15, 2025
Strong Support For Simplifying Digital Reporting, FRC Says
The Financial Reporting Council on Thursday said it has received backing for continued collaboration between regulators to reduce complexity around digital reporting, adding support for a range of proposals that could shape future electronic disclosures in Britain.
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May 15, 2025
Insurers Fear Regulatory Scrutiny Is Stalling AI Adoption
Lloyd's of London insurers fear failure to comply with regulations on artificial intelligence is blocking wider take-up of the technology, according to research published on Thursday.
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May 15, 2025
Brabners Guides Telecoms Biz In £63M Pension Deal
Telecommunications company CommScope has offloaded £63 million ($8 million) of its U.K. pension liabilities to insurer Aviva PLC, advisers have said, in a deal guided by Brabners.
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May 14, 2025
Kirkland-Led Equity Firm To Buy UK Insurance Broker JMG
GTCR Inc. has said that it has penned a deal to acquire JMG Group in an acquisition the U.S. private equity firm hopes will help to drive the broker's expansion across the British insurance market.
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May 14, 2025
UK Lifeboat Fund Looking Into New Claims Against WealthTek
The U.K.'s lifeboat fund compensating investors in failed investment firms has started investigating new types of investor claims against collapsed wealth manager WealthTek LLP.
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May 14, 2025
Pension Bosses Warn Gov't Over Mansion House Mandate
The government is likely to fail in its bid to oblige pension funds to invest in the U.K. without ensuring that there is a sufficient pipeline of viable assets, a panel of experts warned MPs on Wednesday.
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May 14, 2025
Aviva's £3.7B Deal To Buy Direct Line Gets UK Investigation
Britain's antitrust watchdog said Wednesday that it is investigating Aviva's proposed £3.7 billion ($4.9 billion) cash and stock acquisition of rival insurer Direct Line, saying it has concerns about competition.
Expert Analysis
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3 EU And UK Data Protection Tips During COVID-19
Though EU and U.K. data protection laws should not impede the fight against COVID-19, companies must continue to protect individuals' data, and the challenges of managing a remote workforce and the desire for information about the virus’s impact have significant implications for that responsibility, say attorneys at Debevoise.
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Novolex Case Brings Lessons On R&W Insurance
A New York state court dispute between Novolex and a few of its insurers concerning coverage under a representations and warranties policy for a $267 million loss offers a rare glimpse into how a court might interpret acquisition agreements and insurance policy provisions, say attorneys at Hunton.
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How Proposed EU Class Action Directive Could Affect Insurers
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.
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COVID-19 Insurance Considerations For UK Cos.
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.
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UK Group Data Breach Claims Pose Big Financial Risks
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.
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A Crucial Chance For UK Supreme Court To Clarify Arbitrator Bias
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.
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Rebuttal
Legal Industry Should Pursue AI Prediction Progress
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.
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Rebuttal
AI Can't Accurately Predict Case Length And Cost — Yet
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.
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What To Expect During The Brexit Transition Period
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.
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Opinion
Legal Prediction Is Demanding But Not Impossible
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.
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Surefire Marketing Methods To Build Your Legal Practice
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.
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Mandatory Mediation May Lie Ahead For England And Wales
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.
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Key Risks And Developments For UK Law Firm Culture In 2020
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.
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Cos. Can Start Preparing Now For Immigration Beyond Brexit
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.
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#MeToo Pressure On UK Businesses Is Set To Rise
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.