Try our Advanced Search for more refined results
Insurance UK
-
January 10, 2025
Pension Funds So Far Riding Out Bond Market Volatility
Pension funds have mostly weathered the current sell-off in bond markets, experts are saying, despite fears of a repeat of the liability-driven investment crisis of two years ago.
-
January 10, 2025
CMS Taps Tax Disputes Specialist From KPMG
CMS announced that it has appointed a former KPMG director as a partner in its London-based tax practice.
-
January 10, 2025
Financial Lifeboat Scheme Sets Budget Of £103.6M
The Financial Services Compensation Scheme on Friday said it expects its running costs for the upcoming financial year to be £103.6 million ($126.7 million) — a 0.5% increase on the current financial year.
-
January 10, 2025
Broker Arian Hit With Fine For Cum-Ex Trade Failings
The finance watchdog said Friday that it has fined broker Arian Financial LLP £289,000 ($354,000) for having inadequate systems and controls against financial crime in a cum-ex dividend trading case.
-
January 10, 2025
UK Audit Watchdog Outlines Plans To Boost UK Growth
The Financial Reporting Council said on Friday that it has adopted five priorities to support the Labour government's broader ambition to boost economic growth, including plans to improve investors' confidence in British companies.
-
January 09, 2025
Insurer Utmost Formally Enters Pension Deal Market
Utmost Life and Pensions Ltd. on Thursday formally confirmed it has entered the bulk purchase annuity market, signaling ambitions to hold over 5% of the pension transfer market within five years.
-
January 09, 2025
Direct Line Names New GC Ahead Of Planned Aviva Merger
Direct Line Group has appointed a new general counsel to its executive committee, as the insurer moves toward its anticipated merger with rival Aviva later in 2025.
-
January 09, 2025
Broker Launches Ukraine Property War Risk Reinsurance
McGill and Partners said Thursday it has launched what it calls the first-of-its-kind war risk reinsurance facility for commercial property in Ukraine to improve understanding and underwriting of risks to assets in the region.
-
January 09, 2025
Freshfields Steers £1.5B Pension Megadeal For Catering Co.
A food catering giant has offloaded £1.5 billion ($1.8 billion) of its pension liabilities to Standard Life, the insurer said Thursday, the first megadeal for the sector of 2025.
-
January 09, 2025
Pension Transfer Redress Falls From Rising Gilt Yields
The compensation that pension savers can claim for being poorly advised to transfer their pensions has fallen significantly — in most cases to zero — due to recent bond market fluctuations, a consultancy said Thursday.
-
January 09, 2025
BoE Pledges To Get Tough On Cyberthreat, Climate Change
The Prudential Regulation Authority wrote to chief executives in the insurance sector on Thursday, setting out tough regulatory priorities for 2025, as it seeks better resistance to cyberthreats and greater management of climate-change risk.
-
January 08, 2025
BoE Eyes Relaxed Financial Regulation To Support Growth
The Bank of England's regulatory arm told a House of Lords Committee on Wednesday that it will reduce bank reporting requirements and enable insurers to make certain investments before regulatory approval, amid other easing of its rules in line with government growth priorities.
-
January 08, 2025
Loss Adjuster QuestGates Buys Insurance Investigation Biz
Loss adjuster QuestGates has said it has bought investigations specialists Brownsword Group in a move the business said improves its market share in the third-party probe sector.
-
January 08, 2025
Pension Trustees Warned Against Complacency On Funding
Pension trustees should not be complacent over record improvements in scheme funding positions over the coming year, a consultancy warned.
-
January 08, 2025
'Rainy Day' Funds Could Be In Next Pension Review
The U.K. government may potentially weigh the benefits of new "rainy day" funds for those saving for retirement as part of a wider policy review, an insurer said Wednesday.
-
January 08, 2025
80% Of UK Retired Homeowners Missing State Benefits
Eight in 10 pensioner homeowners failed to claim any of the benefits they were eligible to receive in 2024 and missed out on an average of over £1,800 ($2,220) a year in extra income, Just Group said Wednesday.
-
January 07, 2025
Franco Manca Owner Sues Insurer QIC Over COVID Cover
The owner of a restaurant chain has filed a legal claim against insurer QIC Europe over its failure to pay out compensation for COVID-19 losses after the U.K. Supreme Court refused to hear an appeal on a landmark ruling in favor of policyholders.
-
January 07, 2025
NI Law Society Partners With Broker Gallagher On Cyber Risk
Insurance broker Gallagher said it will provide risk management on cyber threats to hundreds of legal practices in Northern Ireland as a result of a tie-up with the region's professional standards body.
-
January 07, 2025
Treasury Committee Launches Review Of Lifetime ISAs
The Treasury Committee on Tuesday said it has launched a review to gauge whether the Lifetime Individual Savings Account introduced in 2016 is still fit for purpose as a combined financial product for first-time house buyers and pension savings.
-
January 07, 2025
Finance Sector Seeks To Limit EU Technology Rules
Finance trade bodies in Europe have urged lawmakers to exclude digital-based financial services from a new European Union regime that will strengthen cyber-resilience in finance when it starts in January because it would overlap with existing rules.
-
January 07, 2025
Gallagher Sues Ex-CEO For £1.85M Over 'Fraud' In Exit Talks
Gallagher's benefits and consulting arm has sued the former chief executive of a company it acquired for more than £1.85 million ($2.32 million) for allegedly withholding information about a major client that inflated the financial prospects of the business and the severance he received.
-
January 07, 2025
Travers Smith Steers £540M Pension Deal For UK Retailer
Footwear retailer Clarks has offloaded £540 million ($677 million) of its staff retirement liabilities to Pension Insurance Corp. PLC, the insurer said Tuesday, in a deal guided by Burges Salmon, Travers Smith and CMS.
-
January 07, 2025
PE Firm Lovell Minnick Invests In UK Consultancy Broadstone
Lovell Minnick said Tuesday that it has taken a stake in Broadstone, a British financial services consultancy, as the U.S. private equity firm eyes a slice of the growing advisory sector.
-
January 06, 2025
Royal London Sued For £27M Over Company Sale
Asset manager M&G is suing Royal London for at least £27 million ($33.8 million) for allegedly failing to disclose a range of issues linked to a company the mutual insurance and investment firm sold to M&G that it says would have lowered the company's value had they been revealed.
-
January 06, 2025
Zurich Denies Insurer's Bid For £580K Slice Of Settlement
Zurich's U.K. entity has denied that a law firm it insured shut out a bankrupt insurance company from recovering over £580,000 ($730,000) as part of negligence claim that was settled without the bankrupt insurer's consent.
Expert Analysis
-
Autonomous Vehicles And UK Product Liability Law: Part 2
With autonomous vehicles expected to hit the streets of the United Kingdom soon, manufacturers, insurers and their legal counsel face the challenge of determining how the U.K.'s product liability laws will be applied to questions of negligence, evidence and contracts raised by self-driving vehicles, says Michaela Herron of Bristows LLP.
-
Autonomous Vehicles And UK Product Liability Law: Part 1
Autonomous vehicles present a number of challenges to the United Kingdom's product liability legal framework, especially with regard to the vehicles' heavy reliance on software, consumers' expectations of safety and the need for compliance with varying local traffic rules, says Michaela Herron of Bristows LLP.
-
A Victory For Legal Privilege In Cross-Border Investigations
The U.K. Court of Appeal's recent decision in Serious Fraud Office v. Eurasian Natural Resources is a substantial step toward confirming the application of legal privilege in internal investigations, and has significantly reduced the divergence in U.K. and U.S. privilege law, say attorneys with Milbank Tweed Hadley & McCloy LLP.
-
UK And EU Crawl Toward Virtual Currency Regulation
The lack of a harmonized approach to regulation of initial coin offerings in the EU is leading to a piecemeal approach across member states that will hamper blockchain developments, say Jacqui Hatfield and Rebecca Kellner of Orrick Herrington & Sutcliffe LLP.
-
Is Equifax Data Breach Penalty A Sign Of Fines To Come?
Recently, the U.K. Information Commissioner's Office fined Equifax £500,000 for falling victim to a cyberattack — the highest penalty available. Some speculate that this decision is a sign that the ICO is already assuming a tougher stance following the commencement of the General Data Protection Regulation, say James Castro-Edwards and Eaven Prenter of Wedlake Bell LLP.
-
Ensure That Dispute Resolution Mechanisms Are Brexit-Proof
With only five months remaining for the U.K. to make a deal with the EU and the possibility of a "no-deal" Brexit looking increasingly plausible, now is the time to take proactive steps to protect your clients’ positions and to make sure that their contracts are effective and enforceable, say Claire Stockford and Caitlin McLean of Shepherd & Wedderburn LLP.
-
5 Cyber Insurance Pitfalls To Avoid In The UK
Faced with the opportunity to purchase cyber risk insurance to mitigate the damage caused by cyber events, prospective policyholder companies need all the help they can get in order to navigate this increasingly complex part of the U.K. insurance market, says Richard Mattick of Covington & Burling LLP.
-
UK Unexplained Wealth Orders: More Bark Than Bite So Far
This month, the U.K. National Crime Agency successfully resisted a challenge to its first unexplained wealth orders. This is a victory, but the agency has some way to go to show that UWOs will be a meaningful tool in the U.K.'s anti-money laundering arsenal, says Fred Saugman of WilmerHale.
-
GDPR Compliance Questions For Blockchain Firms
The General Data Protection Regulation applies to blockchain networks that directly store personal information. However, blockchain technology can make compliance challenging, and also raises questions regarding who bears responsibility for compliance, say attorneys at Covington & Burling LLP.
-
Knowledge Management: An Unsung Hero Of Legal Innovation
As technology evolves, law firms are increasingly looking for ways to improve communication, transparency and service for their clients. Firms should put knowledge management at the core of their value proposition to create a competitive advantage, says Rob MacAdam at HighQ.
-
Uncertainty Concerning The UK's Proper Purpose Rule?
The U.K. Supreme Court's judgment in Eclairs v. JKX seemingly opened the door for a broad interpretation of the proper purpose rule, but despite the confusion, the rule will continue to operate as a useful legal safeguard for shareholders, say Nick Hoffman and Conal Keane of Harney Westwood & Riegels LLP.
-
How Europe's AML Regime Is Tackling Virtual Currencies
The use and provision of virtual currency services have remained largely unregulated in the European Union, but its newest anti-money laundering directive could be the first step to tougher regulation, say Chris Warren-Smith and Paul Mesquitta of Morgan Lewis & Bockius LLP.
-
UK Ruling Signifies Greater Cross-Border Sharing Of Data
In KBR v. SFO, the U.K. High Court confirmed that the Serious Fraud Office can require foreign companies to produce documents held outside the U.K. as long as there is a sufficient connection between the company and the jurisdiction. This judgment will embolden other agencies with similar compulsory document production powers, says Andrew Smith of Corker Binning.
-
Why Law Firms Should Monitor The Dark Web
Dark web monitoring allows law firms to see what sensitive information may have made its way onto the thriving global underground marketplace where cybercriminals buy and sell exposed data. It can also help lawyers advise clients on a wide range of legal and business matters, say Anju Chopra and Brian Lapidus of Kroll.
-
Lessons From UK's Data Backlash
Tesco Bank and British Airways are the latest British icons to find themselves in legal difficulties regarding data breaches, exemplifying the breadth of breach-related risks beyond the established route of the Information Commissioner's Office, says Kim Roberts of King & Spalding LLP.