Insurance UK

  • July 22, 2019

    Regulator Opens Criminal Probes Into 52 Pension Schemes

    Britain’s pensions regulator is carrying out seven criminal investigations into scams covering 52 savings schemes that took unwary savers for about £55 million ($69 million), its chief executive has said.  

  • July 22, 2019

    Insurer Snaps Up Defunct UK Underwriter For Brexit Push

    Specialist insurer DARAG Group announced the purchase of a U.K. underwriter in runoff on Monday, part of its post-Brexit strategy to snap up insurers that used to sell employers’ liability, professional indemnity and general liability policies.

  • July 22, 2019

    EU Sets Out Common Methods For Testing Insurer Resilience

    Europe’s top insurance regulator set out plans on Monday to revamp the way it assesses how well the sector could cope with challenging market conditions, in an attempt to ensure that insurers across the bloc are gathering data in the same way.

  • July 22, 2019

    Shipowner Chases Insurer In UK Over $41M Seized Vessel

    The owner of a $41 million Libyan ship seized by Bulgarian authorities has been given permission to pursue its suit against Libya Insurance Co. for the full value of the vessel by handing the claim to the defendant’s legal representatives in London.

  • July 19, 2019

    Ex-BHS Owner Loses £10M Pension Scheme Appeal

    A U.K. tribunal on Friday tossed Dominic Chappell's appeal challenging a £10 million ($12.5 million) demand from The Pensions Regulator, saying the former BHS retail chain owner "took no serious steps" to follow through with his case.

  • July 19, 2019

    Insurers Denied Extra Disclosure In Bank's Cargo Cover Suit

    A group of 14 insurers lost a bid Friday to force ABN Amro Bank to hand over internal communications over its negotiation of a marine cargo policy at the heart of a High Court lawsuit, after a judge said the request amounted to a "fishing expedition."

  • July 19, 2019

    Insurance Exec Must Turn Over £1.4M After Das Fraud

    A former director at Das must hand over approximately £1.4 million ($1.8 million) after a London judge slapped him with a confiscation order Friday over his part in a conspiracy to defraud the German-owned insurance company.

  • July 19, 2019

    UK Insurers Build Opposition To New Compensation Rate

    The U.K.'s insurance lobby on Friday branded the government's rationale for increasing the rate used to calculate personal injury compensation by only a narrow margin as "misleading and wholly disingenuous" and called for a reassessment.

  • July 19, 2019

    Gov't Launches Review Of UK Financial Regulatory System

    The government announced Friday it is launching a review of the way it supervises financial services in Britain as the country prepares to leave the European Union and its regulatory framework.

  • July 19, 2019

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

    The last week has seen the owner of a Manchester skyscraper that needed repair sue several underwriters at Lloyd's, a prominent cryptocurrency trader drag a U.K. digital currency exchange into court and an executive for Honeywell sue HSBC Bank PLC. Here, Law360 looks at those and other new claims in the U.K.

  • July 19, 2019

    Schroders Takes Control Of ILS Specialist Secquaero

    British fund giant Schroders has completed its takeover of Zurich-based insurance linked securities investor Secquaero Advisors.

  • July 19, 2019

    Insurers Say Planned Curbs On New Drivers Will Boost Safety

    An insurance lobby group has backed government recommendations to restrict the time that new drivers can spend at the wheel, saying the move could reduce premiums and improve road safety.

  • July 18, 2019

    $1M Storm Damage Coverage Dispute Ends After Settlement

    A Texas federal judge on Wednesday closed a $1 million suit launched by an apartment complex owner over the denial of an insurance claim for storm damage after the parties in the case agreed to a settlement.

  • July 18, 2019

    Pensions Regulator's Fines Soar To 49K In Past Year

    The number of companies fined for violating pensions laws have grown significantly over the last 12 months, the Pensions Regulator reported Thursday, amid growing scrutiny over how employees' retirement packages are managed.

  • July 18, 2019

    Insurance Fraudster Fights To Prevent Pension Confiscation

    The former boss of the U.K. subsidiary of a German insurance group fought on Wednesday to keep his £4.6 million ($5.7 million) pension pot out of the hands of prosecutors after he was convicted last year of conspiring with two others to defraud the unit.

  • July 18, 2019

    Shipowner Sues Insurers For $77M Over Confiscated Tanker

    The former owner of an oil tanker has asked a judge in London to force dozens of insurers to cough up $77 million after Venezuelan authorities seized the ship, claiming the events are covered as an act of war. 

  • July 18, 2019

    EU Clears US Asset Manager's Acquisition Of Dutch Insurer

    The European Commission has approved U.S. asset manager Apollo Management LP’s acquisition of a Dutch insurer after concluding that the transaction would raise no competition concerns in Europe.

  • July 18, 2019

    Rushed Yacht Repairs Mean No Reimbursement, Insurers Say

    The insurers of a luxury 80-foot yacht that was damaged after it ran aground off the coast of Istanbul have told a London judge they are not required to pay for the whole $300,000 repair bill because they did not clear the ship's owners to make it seaworthy again.

  • July 17, 2019

    Riots An Unlikely Threat, Sony Expert Says At £5M Fire Trial

    A security expert testified Wednesday that a company wouldn't usually anticipate the threat of a "riotous group ... armed with petrol bombs" as Sony fights a £5 million ($6.2 million) claim from BBC units over goods burned in the company's warehouse.

  • July 17, 2019

    Patients Win Landmark Appeal On Insurance Premium Costs

    A London appeals court ruled Wednesday that the U.K.'s state-run health care system must pay the full insurance premiums two people incurred suing a hospital for medical malpractice, a landmark ruling that could shape clinical negligence lawsuits.

  • July 17, 2019

    FCA Could Regulate Product Marketing After Scandals

    The head of the Financial Conduct Authority suggested on Wednesday that the marketing of new financial products should be more closely regulated, amid renewed criticism that the City watchdog is not providing enough protection against investment scams. 

  • July 17, 2019

    Employers Pour 'Record Amount' Into UK Pension Schemes

    The top 100 companies in the U.K. have paid a record average of 7.1% of annual salaries into their employee retirement schemes this year, according to a survey, after the pensions regulator increased the rate that employers have to pay for their staff.

  • July 17, 2019

    Watchdog Pursues Firms For Dodging Pension Liabilities

    The Pensions Regulator said on Wednesday that it is launching a clampdown on employers who use “camouflage” to commit fraud by changing the name of their company to avoid enrolling workers into a retirement scheme.

  • July 16, 2019

    Insurer Hastings Takes £8.4M Hit From Discount Rate Level

    Hastings Group Holdings PLC said Tuesday it will take a profit loss of £8.4 million ($9.8 million) because the government did not increase a discount rate used by courts to calculate compensation for victims of motor accidents as much as the industry anticipated.

  • July 16, 2019

    US Insurance Agency AssuredPartners Acquires UK Broker

    U.S. insurance agency AssuredPartners Inc. announced that it will acquire Hettle Andrews & Associates Ltd., a U.K. insurance brokerage.

Expert Analysis

  • Answers To Key Legal Finance Ethics Questions

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    While there is discussion in some quarters about new regulations on commercial legal finance, the hands-off approach taken by the majority of courts and legislatures is an implicit recognition that it is already sufficiently regulated, says Danielle Cutrona of Burford Capital.

  • Competing Legal Factors Vex Insurance Arbitration Disputes

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    The Fifth Circuit ruled in May that international arbitration policy trumped state insurance law in McDonnel Group v. Great Lakes Insurance. But the courts have been inconsistent in applying conformity-to-statute clauses, the McCarran-Ferguson Act and a related U.S. treaty in the battle between federal preemption and state reverse preemption, says Gilbert Samberg at Mintz.

  • Cannabis Investors Should Beware Money Laundering Risk

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    Even if marijuana-related businesses are in compliance with local laws, their investors are not free of legal risk so long as cannabis remains a controlled drug in other countries, such as the U.K., say Robert Dalling and Wade Thomson of Jenner & Block.

  • Real-Life Lessons For Lawyers From 'Game Of Thrones'

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    What lessons can the various hands, maesters, council members and other advisers in "Game of Thrones" impart to real-life lawyers? Quite a few, if we assume that the Model Rules of Professional Conduct were adopted by the Seven Kingdoms, says Edward Reich of Dentons.

  • UK Firms Should Be Prepared For Government Raids

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    Recent enforcement activity from the Financial Conduct Authority and other regulators highlight the penalties firms face for procedural breaches, and the value in ensuring that employees are well-equipped to handle unannounced inspections, say James Marshall and Sonja Hainsworth of Bryan Cave.

  • Series

    Why I Became A Lawyer: Completing The Journey Home

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    My mother's connection to her Native American heritage had a major influence on my career — my decision to enter the legal profession was driven by the desire to return to my tribal community and help it in any way I could, says Jason Hauter of Akin Gump.

  • 3 Insurance Issues Raised By The Notre Dame Cathedral Fire

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    The devastating Notre Dame Cathedral fire provides a rare opportunity to consider the many unique factors that owners and insurers must consider when insuring national treasures, say attorneys at Zelle.

  • Where The Post-Libor Litigation Tsunami Will Hit

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    The permanent cessation of the Libor rate in 2021 will likely trigger a flood of litigation over many existing contracts that lack effective replacements. Marc Gottridge of Hogan Lovells identifies the types of products that may be most susceptible to disputes.

  • Despite Decline In Cyberattacks, UK Cos. Should Stay Vigilant

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    The U.K. Department for Digital, Culture, Media and Sport's latest cybersecurity survey shows that U.K. cyberattacks have decreased in the last 12 months, likely thanks in part to the General Data Protection Regulation. But companies' cybersecurity efforts should continue to evolve, say experts at PriceWaterhouseCoopers.

  • UK Antitrust Watchdog Proposals Would Bolster Enforcement

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    The U.K. Competition and Markets Authority's proposals for reshaping competition enforcement and consumer protection would shift the historical balance in U.K. competition policy, increasing regulatory burden on companies while weakening judicial scrutiny of CMA actions, says Bill Batchelor of Skadden.

  • Guest Feature

    Preet Bharara On The Human Factor In The Justice System

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    A key theme in Preet Bharara's new book is the enormous role the human element plays in the administration of justice. The former U.S. attorney for the Southern District of New York discussed this theme, among other topics, in a recent conversation with White and Williams attorney Randy Maniloff.

  • Considering A More Cost-Effective Future For The SFO

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    In light of multiple recent examples of U.K. Serious Fraud Office investigations yielding far less than the agency may have hoped for, a new approach to prosecuting individuals and corporations may be a smart investment, says Azizur Rahman of Rahman Ravelli.

  • Lessons From Carphone Warehouse's Partial FCA Settlement

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    In the first case decided under the U.K. Financial Conduct Authority's new partial settlement process, Carphone Warehouse demonstrates not only the possible value of cooperating with authorities but also the cost of failing to right previous wrongs, says Syedur Rahman of Rahman Ravelli Solicitors.

  • Collective Redress In The EU: Past, Present And Future

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    Legislative processes harmonizing collective redress throughout the European Union have accelerated, leading to a proposed requirement that all member states establish collective action mechanisms, but some worry that the directive lacks sufficient guarantees against abusive litigation, say Philippe Métais and Elodie Valette of White & Case LLP.

  • Lenders Score Major High Court Victory In Foreclosure Case

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    The U.S. Supreme Court's unanimous ruling on Wednesday in Obduskey v. McCarthy & Holthus LLP removes nearly all activities taken by creditors seeking nonjudicial foreclosure of liens and mortgages from the ambit of the Fair Debt Collection Practices Act, says John Baxter of Nelson Mullins Riley & Scarborough LLP.