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Insurance UK

  • September 21, 2018

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

    The last week has seen a London no dealing desk sue Merrill Lynch for breach of fiduciary duty, more competition claims against Visa and MasterCard and a German shipper bring a suit against Axa and other insurers.

  • September 21, 2018

    Major Fraud Prosecution Win May Foretell A Bolder FCA

    The Financial Conduct Authority’s recent success in securing lengthy prison sentences for six boiler room scammers signals a step for the regulator in the direction of a wider range of criminal prosecutions using more creative investigations.

  • September 21, 2018

    Ex-SFO Prosecutor Joins Cohen & Gresser’s London Office

    International law firm Cohen & Gresser LLP has enticed a former U.K. Serious Fraud Office prosecutor to join its white-collar defense group in its London offices.

  • September 21, 2018

    UK PM Warns Of Trade Impasse, Reviving 'Hard Brexit' Fears

    Prime Minister Theresa May indicated on Friday that Britain’s chance of leaving the European Union without a trade deal had escalated, leaving banks and insurers facing legal uncertainty and the possibility of a cliff-edge Brexit.

  • September 21, 2018

    Ex-BHS Owner Risks Unlimited Fine After Losing Appeal

    Dominic Chappell, the former owner of defunct retailer BHS Ltd., risks an unlimited fine after he lost his appeal on Friday against his conviction and sentence on three charges of failing to cooperate with the U.K. pensions regulator.

  • September 20, 2018

    Lloyd's Coverage Of 'Body Broker' Cases Capped At $2M

    An Illinois federal judge on Wednesday ruled that a Lloyd’s of London underwriter has no further duty to defend a policyholder facing 10 suits over its alleged practice of cutting up and selling donated cadavers, holding that all the suits constitute a single claim and the insurer has already paid out more than the $2 million per-claim limit.

  • September 20, 2018

    Courts Can't Weigh Contract Claims That Clash With Law: ECJ

    The European Union’s highest court ruled Thursday that a dispute over a drastic change in exchange rates that increased two individuals’ monthly bank loan repayments can be reviewed by the Hungarian national courts, but only if the terms of the contract being assessed for unfairness are not subject to national laws.

  • September 20, 2018

    FCA To Bring Claims Managers Under Accountability Rules

    The Financial Conduct Authority said Thursday that it has taken steps to bring claims management companies under tough accountability rules in order to protect consumers and strengthen the market by making senior individuals culpable for their conduct.

  • September 20, 2018

    MPs Quiz Regulator Over Troubled Kodak Pension Scheme

    Britain's pensions regulator is facing questions over its support in 2014 for the creation of Kodak’s 11,000-member pension scheme, which is now heading toward a statutory compensation fund because of financial problems.

  • September 20, 2018

    Workplace Pension Reforms Prompt Surge In UK Savers

    The number of employees saving into a workplace pension has jumped seven percent in a year as a result of the U.K.'s auto-enrollment duties, The Pensions Regulator said Thursday, as it reported that 84 percent of staff belong to a workplace retirement fund.

  • September 20, 2018

    TPR To Seek £47K Costs From Ex-BHS Owner If Appeal Fails

    The former owner of defunct retail chain BHS Ltd. could face nearly £50,000 in costs if a court upholds his conviction for failing to cooperate with The Pensions Regulator, a spokesman for the watchdog told Law360 on Thursday.

  • September 20, 2018

    Data Regulator Plans GDPR 'Sandbox' To Test Compliance

    The U.K.’s data regulator has announced plans to create a regulatory test site to help companies try out innovative business ideas without breaching Europe’s new information protection regime and risking tough penalties.

  • September 19, 2018

    Broker Jailed For Fraud Related To Manchester Terror Attack

    An insurance broker has been sentenced to two years in prison for making 31 fraudulent claims, including falsely stating that her daughter had suffered serious injuries during the Manchester Arena terror attack, City of London Police said.

  • September 19, 2018

    Retailer Blames PPI Compensation Costs For £25M Hit

    Online retailer and financial services firm Shop Direct on Wednesday posted pre-tax losses of £24.7 million ($32.5 million) for the year to June 30, after it earmarked £128 million in compensation for missold payment protection insurance.

  • September 19, 2018

    MPs Call For Regulation To Tame 'Wild West' Crypto Market

    British lawmakers called on the government and City watchdogs on Wednesday to regulate the “wild west” market in crypto-assets to protect consumers while also positioning the U.K. as a global center for virtual currencies.

  • September 19, 2018

    Are GDPR Fines Insurable? UK Watchdog Won't Say

    Britain’s data regulator has refused to be drawn on whether businesses can insure themselves against the huge fines that can be levied under Europe’s new information protection regime, as it urges companies to invest in compliance rather than worrying about penalties.

  • September 19, 2018

    4 Insurers Escape FCA Censure Over Treatment Of Clients

    The Financial Conduct Authority said Wednesday that it has ended its investigation into whether Prudential PLC and three other life insurers treated loyal customers unfairly, despite finding "some issues" at all four, and has decided not to take enforcement action.

  • September 18, 2018

    Aussie Law Firm Must Pay Security In £637M Watchstone Suit

    London’s High Court has ordered Australian law firm Slater & Gordon LLP to pay further security to Watchstone Group in its £637 million ($838 million) claim accusing the insurance and technology provider of fraudulent misrepresentation over the law firm’s disastrous deal to acquire a division of the company.

  • September 18, 2018

    Marsh & McLennan Snaps Up UK’s JLT In $6.4B Deal

    Marsh & McLennan Cos. on Tuesday said it has agreed to buy London-based insurer Jardine Lloyd Thompson in a deal with a $6.4 billion enterprise value steered by Slaughter and May, Wachtell Lipton Rosen & Katz and Clifford Chance LLP.

  • September 18, 2018

    Motor Insurance Lobby Warns Reform May Breach Data Laws

    The insurance industry raised "deep concern" on Tuesday about European Commission plans to standardize the claims histories of motor insurance policyholders, saying the reforms risk breaching national data protection rules.

Expert Analysis

  • New UK And US Regimes May Deter Foreign Investment

    Robert Bell

    Newly proposed U.K. rules and the amended regime for the Committee on Foreign Investment in the United States will radically change how the two governments review sensitive transactions, which will affect the likelihood of deal clearance, deal timing and the drafting of appropriate contractual provisions, say Robert Bell and Jennifer Mammen of Bryan Cave Leighton Paisner LLP.

  • UK Employees May Soon Gain The 'Right To Disconnect'

    Sarah King

    Several European countries have recently incorporated the "right to disconnect" from work into their domestic legislation. Currently, there is no equivalent law in the U.K., but as stress levels continue to rise, it is likely that U.K. legislators will follow suit, says Sarah King of Excello Law.

  • Q&A

    A Chat With Faegre Client Development Chief Melanie Green

    Melanie Green

    In this monthly series, Amanda Brady of Major Lindsey & Africa interviews management from top law firms about the increasingly competitive business environment. Here we feature Melanie Green, chief client development officer at Faegre Baker Daniels LLP.

  • UK's Proposed Investment Scrutiny Powers Are Far-Reaching

    Douglas Lahnborg

    The recently issued National Security and Investment White Paper proposes a significant expansion in the U.K. government's powers to scrutinize foreign investments. If the proposals are brought into force, the U.K. regime will be one of the most stringent in the world, say Douglas Lahnborg and Matthew Rose of Orrick Herrington & Sutcliffe LLP.

  • Relief For Cos. Conducting UK Internal Investigations

    Simon Airey

    After almost a year and a half of uncertainty, the U.K. Court of Appeal has restored the eminently sensible position that documents created in an internal investigation are capable of being covered by litigation privilege when a criminal investigation or prosecution is in prospect, say Simon Airey and Joshua Domb of Paul Hastings LLP.

  • Breaking Down The UK's Revised Corporate Governance Code

    Joseph Ferraro

    Recent changes to the U.K. Corporate Governance Code should reassure investors that companies with a premium listing on the London Stock Exchange are committed to being standard-bearers. Issuers may also benefit from the workforce engagement, corporate culture and diversity changes that will be brought into businesses, say Joseph Ferraro and Jennifer Tait of Willkie Farr & Gallagher LLP.

  • Q&A

    Back To School: Widener's Rod Smolla Talks Free Speech

    Rodney Smolla

    In this new series featuring law school luminaries, Widener University Delaware Law School dean Rodney Smolla discusses teaching philosophies, his interest in First Amendment law, and arguing before the U.S. Supreme Court in Virginia v. Black.

  • When To Use Options Analysis In Damages Assessments

    Ronnie Barnes

    In both the U.K. and abroad, the discounted cash flow methodology is often considered the "go to" valuation approach when conducting a damages assessment. However, DCF is not always appropriate and damages experts should know when to use the option analysis methodology instead, says Ronnie Barnes of Cornerstone Research Inc.

  • Opinion

    UK 'Unexplained Wealth Orders' Will Discourage Investors

    Simon Bushell

    The United Kingdom has taken the unusual step of introducing significant retrospective powers that could unravel acquisitions and transactions from decades ago. The government's intentions are laudable, but its new "unexplained wealth orders" cast doubts on the U.K.'s appetite for foreign investment and may hurt national interests, says Simon Bushell of Signature Litigation LLP.

  • Brexit: Bracing For A No-Deal Scenario

    Ross Denton

    Once considered the “cliff edge,” the possibility of the United Kingdom exiting from the European Union without agreeing on a trade deal has moved from unthinkable to increasingly likely. Both sides are ramping up preparations for a no-deal scenario, which would have significant implications for businesses in all sectors, say attorneys with Baker McKenzie LLP.