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Insurance UK
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June 11, 2025
EU Insurers Push For Major Cuts To Sustainability Reporting
A trade body for European insurers has urged the EU to "substantially" reduce the scale of one of its flagship sustainability reporting regimes, arguing that the framework needs clarification and simplification.
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June 11, 2025
EU Lawmakers Urged To Boost Share Settlement Competition
A trade body for financial institutions in Europe has asked lawmakers to prioritize making clearing and settlement service more competitive in plans to integrate and grow European Union capital markets.
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June 11, 2025
Irish Health Insurance Uptake Dips As Prices Rise
Ireland's Health Insurance Authority reported on Wednesday that the number of policies purchased in the sector has fallen, amid indications that rising prices for cover could be affecting the market.
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June 11, 2025
FCA Warns Financial Advisers Of Retirement Advice Failings
The City watchdog said Wednesday that it has found that companies providing retirement income advice are failing to record clients' financial situations or revisit their attitude to risk in a thematic review.
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June 11, 2025
Nearly 80% Of Trustees Plan To Access Pension Surplus
More than three-quarters of retirement savings plan trustees have said they are planning to use new powers floated by the government that will allow them to distribute surpluses tied up in their schemes, a consultancy has said.
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June 11, 2025
War Risk Insurers Held Liable For Jets Stranded In Russia
Major insurers are liable to payout in a multibillion-dollar dispute over hundreds of aircraft stranded in Russia following the invasion of Ukraine in 2022, after a London judge ruled on Wednesday that the jets and engines are officially lost.
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June 10, 2025
Underwriters Back Ethnicity, Disability Pay-Gap Reporting
A British trade group for underwriters said Tuesday that it backed recent government plans to introduce mandatory reporting on ethnicity and disability pay gaps, but said policymakers should ensure data is collected safely to preserve anonymity.
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June 10, 2025
Insolvency Service Hires Crypto-Specialist To Aid Recoveries
A U.K. government agency responsible for investigating company insolvencies has appointed its first crypto-specialist to help recover digital assets such as bitcoin for creditors.
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June 10, 2025
Expanding FCA Taps Ex-Crime Agency Exec As Deputy CEO
The Financial Conduct Authority said Tuesday that it has appointed Sarah Pritchard, a qualified litigator and former director of the National Economic Crime Centre, as deputy chief executive to handle its expanding remit.
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June 10, 2025
Insurers Using More 'Sweep-Up' Clauses In Policies
Insurers might increasingly be using "sweep-up" clauses in contracts to circumvent policyholder protections introduced in landmark legislation a decade ago, a trade body warned Tuesday.
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June 10, 2025
FCA's Rathi Tries To Gauge Gov't Risk Appetite For Crypto
The Financial Conduct Authority warned a cross-party group of MPs on Tuesday it needed a steer on the government's risk appetite for crypto-assets amid the push for U.K. competitiveness and economic growth.
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June 10, 2025
Cosmetics Studios Sue Beazley Over COVID Business Losses
Almost 70 cosmetics clinics, including tattoo studios and a flotation therapy center, have sued two Lloyd's of London syndicates managed by Beazley for losses they claimed to have incurred after temporarily closing during the COVID-19 pandemic.
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June 09, 2025
Canadian Insurer Intact Financial Warns Of US Political Risks
The boss of one of Canada's largest insurance companies warned Monday that the sector needs to "prepare for the worst" in relation to democratic institutions in the U.S.
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June 09, 2025
UK Leads Europe On FDI In Financial Services, EY Says
The U.K. continues to be Europe's most attractive destination for foreign direct investment into financial services, despite a drop in the number of projects across the region, Ernst & Young said on Monday.
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June 09, 2025
FCA Proposes Reporting Changes For Fund Managers
The Financial Conduct Authority has proposed that it will reduce requirements for U.K. fund managers on how they report on value for investors, a move that would enable significant cost cuts.
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June 09, 2025
Broking Group Howden Buys Peruvian Reinsurance Biz
Howden Group said Monday that it has bought Peruvian reinsurance broker Innova Re, marking a further broadening of the insurance broking giant's footprint in Latin America.
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June 09, 2025
Phoenix Group Denies Cutting Ex-SunLife CEO's Pay By £9M
Insurance business Phoenix has denied short-changing the former chief executive of its SunLife subsidiary by £8.9 million ($12.1 million), telling a London court that his "extremely generous" £15.4 million payout was fair.
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June 09, 2025
FCA, NVIDIA Team Up To Launch AI Testing Sandbox
The Financial Conduct Authority said Monday it will launch a supercharged sandbox in collaboration with multinational technology company NVIDIA to help firms experiment safely with artificial intelligence to support innovation.
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June 06, 2025
UK Litigation Roundup: Here's What You Missed In London
The past week in London has seen MGM and the owners of the "Addams Family" trademark sue a private equity firm, two Cambridge colleges file for injunctions against Pro-Palestine student protest groups and a former NBA player brings a claim against Orrick Herrington & Sutcliffe LLP.
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June 06, 2025
Gov't To Face Judicial Review Over State Pension Redress
The High Court has granted approval for a challenge to the government's decision on compensation for failure to inform women that their pension age had changed, a move activists have termed a "landmark moment."
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June 06, 2025
UK To Launch Delayed Second Phase Of Pensions Review
The government said it will soon launch the delayed second phase of its pensions review, in what experts hope could be the biggest shakeup for the sector for 20 years.
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June 06, 2025
UK Pensions Bill To Transform Trustees' Role, Watchdog Says
Britain's retirement savings watchdog has said it will look to other regulators and governance standards for guidance to ensure that pensions trusteeship is ready for the "transformational" impact of reforms that have recently been announced.
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June 06, 2025
UK Floats Legislative Fix For Virgin Media Pensions Case
The government has said it will push through legislation to deal with the legal fallout for pension trustees from a landmark Court of Appeal ruling in 2024.
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June 05, 2025
Meta Pressed By MPs Over Slow Removal Of Harmful Content
A group of influential MPs said Friday that they have written to Meta asking the Facebook-owner to explain its tardy responses to requests by the City watchdog for the removal of harmful content from financial influencers appearing on its platforms.
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June 05, 2025
UK Pension Assets Hit £3.2T Amid Shift To Private Markets
The total value of U.K. pensions grew by 11% in 2024 to £3.2 trillion ($4.3 trillion), the Pensions Policy Institute has said, noting a movement to private market investment in a "period of transition" in Britain.
Expert Analysis
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Digital Nomads: Key Considerations For Global Businesses
As employers and employees embrace remote, location-independent work arrangements enabled by technology, they must be mindful of the employment law and tax consequences such arrangements may trigger, say Hannah Wilkins and Audrey Elliott at Eversheds Sutherland.
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New License Eases Sanctioned Clients' Legal Fee Payments
The general license recently issued by the U.K. Office of Financial Sanctions Implementation permitting the payment of legal fees owed by a sanctioned company or individual will potentially reduce the agency's backlog and is welcome news for both lawyers and OFSI staff, say Zulfi Meerza and Syed Rahman at Rahman Ravelli.
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Preparation Is Key To Businesses Minimizing Cyber Breaches
A recently published report by the U.K. Department for Digital, Culture, Media and Sport on organizational experiences of cybersecurity breaches highlights the importance of having breach response policies in place and being able to demonstrate that reasonable preventive and risk management steps were taken, says Lawson Caisley at White & Case.
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UK Policyholders Can Expect Better COVID Claims Handling
The U.K. Financial Conduct Authority recently outlined some best practices for COVID-19 business interruption claims handling, which, along with recent High Court of Justice decisions, will likely lead to faster claims handling and clearer insurer communication, say Gurpreet Sanghera and Charlie Edwards at Simkins.
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A Recovery Option For Lenders With Planes Stuck In Russia
For aircraft lessors considering insurance coverage litigation to recover for losses of equipment leased to Russian airlines, negotiating an assignment of rights may provide a faster pathway to recovery, say David Klein and Jose Lua-Valencia at Pillsbury.
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Series
My Favorite Law Prof: How I Learned To Argue Open-Mindedly
Queens College President Frank Wu reflects on how Yale Kamisar’s teaching and guidance at the University of Michigan Law School emphasized a capacity to engage with alternative worldviews and the importance of the ability to argue for both sides of a debate.
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4 Key Skills For An Effective Attorney Coaching Conversation
As BigLaw firms are increasingly offering internal coaching as one of many talent strategies to stem ongoing lawyer attrition, Stacey Schwartz at Katten discusses how coaches can help attorneys achieve their goals.
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New Clarity On Directors' Creditor Duty In Insolvency Context
The recent case of BTI 2014 v. Sequana, the first to consider the creditor duty at U.K. Supreme Court level, provides directors and insolvency practitioners with significant guidance on how close to insolvency the company needs to be for the creditor duty to be engaged, say attorneys at Shearman.
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FCA Pension Scheme Case Highlights Issues Ripe For Reform
The Financial Conduct Authority's response to the British Steel Pension Scheme case exposed wider issues within its regulatory approach and could demonstrate the need for industrywide reforms to minimize the risks with transferring out of a pension scheme, say Oliver Reece and Larisa Gordan at PwC.
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What An Organization Can Do To Protect Its Supply Chains
In light of recent world events, supply chain issues have never been more critical for business, and to protect the commercial viability of their contracts, organizations should address performance concerns in good time, with a workable strategy in place should the chain break down, says Laura Heeley at Eversheds Sutherland.
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German Draft Bill Reflects Trend Toward New Antitrust Tools
A recently proposed amendment to the German Act against Restraints on Competition continues the trend in Europe to equip authorities with greater powers, shifting from a more traditional approach to a more extensive market protection tool, say attorneys at Gibson Dunn.
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How Counsel Can Effectively Lead Data Breach Investigations
More businesses are expecting in-house counsel to lead cybersecurity incident responses, so lawyers should work on asking external responders the right questions, managing ransom negotiations to gain time and information, and communicating with regulators to avert or limit penalties, say Oliver Price and Kevin Hughes at FTI Consulting.
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What EU Oil Spill Insurance Ruling Means For UK Arbitration
A recent European Court of Justice opinion in an insurance dispute related to the 2002 sinking of oil tanker MV Prestige provides clarity on the priority of cross-border judgments and arbitral awards, and indicates that EU member state civil judgments will be given precedence over U.K. arbitral awards — with exceptions, says David Vaughan at Collyer Bristow.
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UK Claim Limitation Ruling Is A Tentative Win For Insurers
A U.K. county court's recent decision in Rashid v. Direct Savings reduces the limitation period for third parties to make direct claims against insurers, potentially providing insurers with a defense that was not previously apparent, if the decision is upheld on appeal, says Robert Morris at RPC.
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Why Risk-Based Employee Conduct Policies Are Advisable
In establishing employee conduct policies, companies should consider the extent to which they are exposed to certain types of risk, such as bribery and corruption, as establishing clear written standards offers a step toward avoiding criminal liability, says Steve Melrose at Bellevue Law.