Insurance UK

Insurers Face Rising Tide Of Claims From AI-Driven Fraud

Insurers in Britain could be on the hook for far higher losses because of the rising use by criminals of artificial intelligence tools to invent or inflate claims, lawyers have warned.

Appointed Reps Reform Gives FCA Bigger Enforcement Hook

The U.K. government's plans to tighten the rules for appointed representatives will give the Financial Conduct Authority a far greater enforcement hook, making the regime costlier and harder to access by the companies it is designed to support, lawyers have warned.

Man outside a crown court in Southwark holding a disposable coffee cup.

The Biggest UK White Collar Cases Of 2025: Midyear Report

James "Jes" Staley's ill-fated legal battle over his ties to Jeffrey Epstein, the first conviction secured by Britain's sanctions' enforcer and Tom Hayes' Supreme Court victory are just a few of the big cases from 2025.

FCA Woodford Ban Signals Risks Of Star Fund Managers

The decision by the financial watchdog to provisionally fine and ban former fund manager Neil Woodford has sent a lesson to companies across the finance sector that the star status of some senior managers is up for review in the City.

August 29, 2025
UK Litigation Roundup: Here's What You Missed In London

This past week in London has seen Prosecco DOC Consortium bring an intellectual property claim against a distributor, the Serious Fraud Office bring a civil recovery claim against the ex-wife of a solicitor jailed over a £19.5 million fraud scheme, and law firm Joseph Hage Aaronson & Bremen LLP sue its former client, the bankrupt Indian tycoon Vijay Mallya. Here, Law360 looks at these and other new claims in the U.K.
August 29, 2025
Women's State Pension Redress Decision Gets Court Date

Campaigners fighting the government over its decision not to launch a compensation program for historic failings over the women's state pension said Friday that the High Court would hear its case in December.
August 29, 2025
US Tariffs Spur Asset Allocation Review By UK Pension Funds

Volatility in markets caused by Donald Trump's Liberation Day tariffs has prompted U.K. pension funds to reassess their long-term U.S. equity allocations, a consultancy said Friday.
August 29, 2025
FCA Urged To Shield Firms Offering Targeted Support

Financial services companies could be held back from offering "targeted support" to customers, out of concern they could be ordered to fork out compensation down the road, a financial adviser warned.
August 29, 2025
Finance Sector 'Risks Losing Talent' Over Class Ceiling

Just two in five young people from lower socioeconomic backgrounds believe the financial services industry is "open to them," according to research by an insurance company.
August 28, 2025
FCA Cuts Data-Reporting Burden For 36,000 Companies

The Financial Conduct Authority said Thursday it has removed some data reporting requirements under the senior managers' regime for 36,000 businesses, representing 95% of those it authorizes.
August 28, 2025
Osborne Clarke Steers Advisory Giant's £60M Pension Deal

The U.K. pension plans of accountancy and business advisory firm BDO LLP have agreed a £60 million ($81.1 million) full-scheme buy-in with financial services company Just Group, Broadstone said Thursday.
August 28, 2025
Pension Sector Told Not To Ignore Growing Bitcoin Cos.

Pension scheme trustees should "not ignore" the growing influence of businesses raising money to buy bitcoin as part of their financial strategies, a retirement saving specialist has said.
August 28, 2025
Pension Trustees Warned To Better Vet Cyber Resilience

Pension funds trustees must demand the right evidence on cyber resilience after incidents at Marks & Spencer, Harrods and the Co-op showed how damaging security breaches can be, according to best practice guidance released by a pensions administrator.
August 28, 2025
MPs Urged To Back Amendment On Pensions Inflation Rules

British lawmakers have been urged to back an amendment to draft pensions legislation that will allow retirement benefits for older pensioners to rise with inflation.
August 28, 2025
Broker Denies Negligence Claim Over PI Policy Notice

An insurance broker has said it is not liable for allegedly failing to tell a building service engineer's insurer about a row the engineer is involved in over the installation of a generator system, arguing that it had given the notification.
August 28, 2025
Pensions Body Urges Rethink On Pension Investment Powers

The largest trade body for the U.K. retirement sector has hit out at plans by the government that will effectively allow it to direct investment of pension funds.
August 28, 2025
FCA Names Pensions Exec As New Chair For Small Biz Panel

The Financial Conduct Authority said Thursday that it has appointed pensions executive Will Self as chair of its advisory panel for small business matters as the regulator help the sector explore new technology.
August 27, 2025
Swiss Bank Seeks Docs From AIG For Dutch Arbitration Fight

A Swiss private bank is seeking discovery from AIG Inc. for use in a Dutch court case in which the bank wants vacated an arbitral award denying its claim for $90 million in coverage from the insurer's European subsidiary, the bank told a New York federal court.
August 27, 2025
Prudential Plans $1.1B Share Buyback Over 2 Years

British insurance and asset management giant Prudential PLC said Wednesday that it plans to return $1.1 billion to its shareholders by buying back its shares in 2026 and 2027, as it released "strong" financial results for the first half of 2025.
August 27, 2025
FCA Clarifies Its Rules For Workplace Savings Accounts

The Financial Conduct Authority warned Wednesday that employers who encourage employees to open workplace savings accounts must comply with its regime on financial advertising, according to a statement clarifying the rules.
August 27, 2025
UK Gov't Warned Against Insurance Tax Hikes In Fall Budget

The government could inadvertently pile additional pressure on public healthcare if it decided to raise the insurance premium tax rate in the coming budget, a consultancy warned Wednesday.
August 27, 2025
Call For More Clarity In Pensions To Aid Neurodiverse Adults

Improving the clarity of communication and language used for savers in the pensions sector would improve accessibility for neurodiverse adults, a U.K. trade body has said.
August 27, 2025
FCA Urged To Intervene On 'Novel Length' Insurance Docs

Insurers are still sending policy documents to customers that are equivalent in length to short novels by Kafka and Steinbeck, a consumer body has warned, despite new regulation geared toward making financial services products more intelligible.
August 27, 2025
HSF Kramer Guides Fragrance Co.'s £134M Pension Deal

The U.K. subsidiary of flavor and fragrance giant Givaudan International SA has agreed a full-scheme pension buy-in with Aviva PLC that is worth £134 million ($180 million), the insurer said Wednesday.
August 26, 2025
Lloyd's Insurer Beats Manager's Whistleblower Appeal

A Lloyd's syndicate has beaten an underwriter's attempt to resurrect his whistleblowing claim over alleged fraud after a London appellate tribunal didn't see any legal errors in a lower tribunal's analysis of his case.
August 26, 2025
Boost Fraud Controls Before Law Change, RSA Urges Insurers

RSA told the insurance sector on Tuesday that it should review and strengthen its antifraud controls ahead of forthcoming legislative changes designed to improve safeguards in Britain.
August 26, 2025
Exchanges Body Warns EU Of Risk Of US Share Digitalization

A London-based global exchange group said Tuesday that it has warned the European Union's financial markets watchdog of growing risks to investors posed by U.S. shares that have been digitalized by unregulated brokers and crypto-asset trading platforms.
August 26, 2025
UK Regulator Saves Pension Scheme From Insolvency

The U.K.'s retirement savings watchdog said Tuesday it was able to secure £7 million ($9.4 million) in backing for a beleaguered staff pension scheme, after the plan's original sponsor went bust.
August 26, 2025
Pension Funds Join £3B Funding For Infrastructure Project

A coalition of U.K. pension funds has backed a £3 billion ($4 billion) funding package for a major utilities project in northwest England following a government-led initiative to get the sector to invest more in the economy.

Editor's Picks

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.
FCA Begins Crackdown On Poor-Value Insurance Products

The move by the Financial Conduct Authority to restrict sales of guaranteed asset protection insurance is a sign of a faster approach to market intervention, and could lead the regulator to scrutinize other underperforming products, consultants say.
Post-Election UK Pension Changes Could Be In The Fine Print

Regulatory lawyers are not expecting radical overhaul in pension policies if the government changes after this year's general election. But lawyers say that signals in the opposition Labour Party's policy language could hint at possible shifts in investment priorities for retirement savings.

Expert Analysis

What To Note From FCA, Gov't Financial Growth Proposals

Recent Financial Conduct Authority and government proposals for financial services reform are positive developments for firms, signaling a drive to push forward growth and a willingness to be flexible in areas of regulation that the industry has long raised as barriers, say lawyers at Simmons & Simmons.
FCA Misconduct Guide Will Expand Firms' Duty To Investigate

The Financial Conduct Authority's recent proposals on workplace nonfinancial misconduct will place a greater onus on compliance and investigations teams, clarifying that the question to ascertain is whether the behavior is justifiable and proportionate, say lawyers at Ashurst.
Mansion House Speech Heralds New Financial Regulatory Era

The chancellor of the exchequer's recent Mansion House speech introduced a sweeping commitment to modernize regulation, which will require U.K. retail banks and building societies to revisit core assumptions, and allow lawyers to play a key role in shaping the new rules, say lawyers at Addleshaw Goddard.
Key Points From EU Proposals To Ease Securitization Rules

The European Commission’s recently proposed securitization framework amendments aim to relax existing rules, such as by reducing due diligence requirements and removing the need for investors to conduct certain prescribed compliance verifications by sponsors or original lenders, say lawyers at McDermott.
What To Expect As FCA Preps To Launch AI Testing Service

The Financial Conduct Authority’s forthcoming artificial intelligence live testing service will provide participants with access to appropriate regulatory expertise, but to gauge the tool’s potential utility, it is important to understand how it fits in with what the regulator is already doing, says Omar Salem at Fox Williams.
EU Banking Watchdog Regulations Herald New AML Era

The European Banking Authority’s forthcoming anti-money laundering package will set a framework for compliance across the European Union by redefining the rules of engagement between financial institutions and supervisors, setting a new standard for transparency and accountability, say lawyers at A&O Shearman.
What To Expect As UK, US Gov'ts Develop Stablecoin Policies

While the U.K. and U.S. governments’ policies both suggest that fiat-backed stablecoins can improve efficiency and safety in payments systems, a perception that crypto-assets remain high risk means consumers are unlikely to use them in significant volume anytime soon, say lawyers at Cadwalader.
What Insurers Can Do To Prepare For PRA 'Solvent Exit' Rules

With less than a year until the Prudential Regulation Authority's new solvent exit rules for insurers come into force, it is critical that firms prepare to meet the imminent deadline by outlining an execution plan and establishing clear governance arrangements, say lawyers at Holman Fenwick.
How Regulators Want Online Platforms To Fight Finance Fraud

Recent statements from the International Organization of Securities Commissions and the European Securities and Markets Authority make clear that online platform providers are expected to adopt proactive measures to prevent the promotion of unauthorized financial services and related misconduct, say lawyers at Taylor Wessing.
FCA Notes Industry Criticism But Keeps Transparency Focus

The Financial Conduct Authority’s recently updated enforcement guide finally gives up the "naming and shaming" public interest test, demonstrating that the regulator has recognized the industry's serious concerns while maintaining less contentious aspects of its proposals to improve transparency in investigations, say lawyers at Irwin Mitchell.
Court Backing Of FCA Pensions Ruling Sends Key Message

The Upper Tribunal’s recent upholding of the Financial Conduct Authority's decisions against CFP Management directors serves as a judicial endorsement of the regulator’s approach to defined benefit transfers, underscoring that where the advisory model is fundamentally flawed, the consequences for those in control can be severe, say lawyers at RPC.
Pension Schemes Bill's Most Notable, Controversial Measures

The long-awaited Pension Schemes Bill recently introduced to Parliament creates a framework for harnessing money saved in U.K. workplace pension funds to grow the country’s economy, but provisions relating to local government pension scheme investment, and scale and asset allocation, are controversial, says Claire Dimmock at Squire Patton.
Decoding Arbitral Disputes: Prestige's Jurisprudential Legacy

The U.K. Supreme Court's recent denial of appeal ended Spain's decades-long quest to enforce an €855 million arbitral judgment against a London insurer, throwing into stark relief the increasingly complex relationship between arbitral sovereignty, foreign state immunity and the shifting terrain of post-Brexit private international law, says Josep Galvez at 4-5 Gray's Inn.
UK Securities Tax Reform Will Be Welcomed By Investors

The proposed reforms resulting from HM Revenue & Customs' recent consultation on modernizing stamp taxes on shares, suggesting a single digital tax on securities to replace stamp duty and stamp duty reserve tax, are expected to reduce complexity for investors transacting in U.K. securities, say lawyers at Ropes & Gray.
A Shifting Landscape Of Greater Scrutiny After Data Breaches

Recent Information Commissioner's Office fines for personal data breaches and a Home Office consultation signal a shift in the U.K. regulatory landscape, and with an increase in mass actions and resulting exposure, organizations should prepare for potential third-party claims from those incurring consequential losses, say lawyers at Atheria.