Insurance UK

  • April 12, 2021

    Aon Offers Fix To Quell EU Concerns Of $30B Willis Takeover

    U.K. insurance giant Aon has offered European enforcers a package of fixes for its planned $30 billion purchase of rival Willis Towers Watson after the bloc's competition watchdog raised concerns about brokerage services for large multinational corporations.

  • April 12, 2021

    Financial Firms Blamed For Delays In Bereavement Process

    Financial service providers are a major cause of delays when it comes to processing the affairs of deceased people, Exizent, an online platform for professionals that manage the bereavement process, said Monday.

  • April 12, 2021

    Reinsurers Hiked 2020 Payouts Despite Regulatory Pressure

    Global reinsurers passed on $26 billion to shareholders last year despite warnings from regulators that they should tighten their belts during the COVID-19 pandemic, insurance giant Willis Towers Watson said on Monday.

  • April 12, 2021

    Pension Schemes Seek Judicial Review Over Price Index Plan

    The trustees of three of Britain's biggest workplace pension schemes will seek a legal challenge to the government's plan to change the national official measure of inflation, which they say will harm the retirement income of 10 million people.

  • April 12, 2021

    Criminal Defense Firm Hires White Collar Crime Expert

    Criminal defense law firm Stokoe Partnership Solicitors said on Monday that it has hired a fraud and white-collar crime expert from Gunnercooke to be a partner in its central London offices.

  • April 12, 2021

    Gov't Urged To Rethink Hike In UK Minimum Pension Age

    Government plans to increase the retirement age by two years should be scrapped because such a move might not prevent savers from withdrawing their full pensions as soon as they can and could create complications, a consultancy has warned.

  • April 12, 2021

    Singapore's Competition Body Weighs $30B Aon-Willis Merger

    Singapore's competition watchdog has asked for responses from industry and consumers on the $30 billion acquisition of insurance broker Willis Towers Watson PLC by its rival Aon PLC as it considers antitrust concerns.

  • April 09, 2021

    UK Urges World Bank To Reject Coal, Oil Investments

    The World Bank Group should formally reject investments in coal and oil energy and sign a statement endorsing nature-friendly assets, Britain's ministers of finance and foreign affairs said in a statement published on Friday.

  • April 09, 2021

    Digital Growth Denies Elderly Access To Finance, Report Says

    Elderly people in Europe are being denied access to basic financial services because of the move to technology and their low incomes, according to a study by a research and advocacy group.

  • April 09, 2021

    Insurance Regulators Must Adapt To Digital Remote Work

    Insurance regulators must ensure that they have resilient digital infrastructure in place to allow them to cope with the shift to remote working, which has been accelerated by the pandemic, a group of international supervisors has said.

  • April 09, 2021

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

    The past week in London has seen Microsoft hit with an antitrust suit over software licenses, Britain's new high-speed rail service face another contract challenge and one of the first lawsuits related to a massive container ship that blocked the Suez Canal. Here, Law360 looks at these and other cases.

  • April 09, 2021

    Charity Watchdog To Simplify Responsible Investment Guide

    Britain's charity watchdog has launched a consultation on ways to simplify guidance for trustees that will include allowing them to make responsible investments in a way that may also produce a financial return.

  • April 09, 2021

    Experian Widens Case Against Insurers Over Consumer Action

    Experian PLC has expanded its high court battle with insurers as it seeks to recover more than $18 million it paid out in legal fees from mass consumer lawsuits by adding AIG and six underwriters and two new consumer disputes to the case.

  • April 08, 2021

    Lloyd's Retracts Fraud Allegations In Spat With Calif. Tire Co.

    Lloyd's of London underwriters have agreed to retract fraud allegations against a California tire company and settle their yearslong dispute over insurance coverage, according to a statement issued Thursday.

  • April 08, 2021

    UK Regulator To Deepen Supervision Of Accounting Giants

    Britain's accounting regulator has said it will widen its monitoring of major audit businesses and have a robust enforcement approach as it transitions into a new agency.

  • April 08, 2021

    Fladgate Adds Insurance Litigation Partner In London

    Law firm Fladgate LLP has nabbed an insurance expert from rival Michelmores LLP as a partner in its dispute resolution team as it expands its business and private clients practice.

  • April 08, 2021

    Academics Seek Plan To Tackle Universities Pension Shortfall

    A trade body for British universities has asked members for their responses to an alternative approach to tackling a near £18 billion ($25 billion) funding shortfall in a pension scheme for academics.

  • April 08, 2021

    Women Could Be Owed £235M In Pensions, Ex-Minister Says

    Thousands of women in Britain could be eligible for £235 million ($323 million) in backdated pension payments because of a 2008 rule change, a former pensions minister said on Thursday.

  • April 08, 2021

    MPs Criticize Insurer's Managers On £530M Takeover Plans

    Lawmakers have raised concerns that managers at Liverpool Victoria have "not been open and transparent" with policyholders about a structural change at the mutual insurer, which is being sold for £530 million ($728 million) to a private investor in the U.S.

  • April 08, 2021

    Allianz Fights Reinsurance Claim Over Grounded Ship

    Allianz SE is contesting a Korean reinsurer's suit as the German insurer seeks to claim part of a $12.4 million alleged debt under risk policies shared with a subsidiary of AXA Insurance, after a ship ran aground off the Brazilian coast.

  • April 08, 2021

    Pensions Minister Urges Google To Crack Down On Scam Ads

    Technology companies such as Google are failing consumers and should do more to tackle adverts placed by investment scammers, Britain's pensions minister has said.

  • April 07, 2021

    German Insurer Seeks Ruling That Underwriting Deal Is Over

    Germany's HDI Global Specialty SE is asking the High Court to weigh in on a contract dispute, accusing a British insurance services company of leaving it exposed to polices that it did not know had been underwritten on its behalf.

  • April 07, 2021

    Shepherd & Wedderburn Guides £26M Pension Deal For ABI

    An employee pension scheme for the trade body of British insurers said on Wednesday that it has passed on £26 million ($36 million) of members' liabilities to insurer Aviva PLC.

  • April 07, 2021

    Consumers Behind Half Of Financial Ad Complaints To FCA

    Retail consumers submitted almost half the complaints about financial promotions received by the Financial Conduct Authority in the first three months of the year, according to new data from the regulator.

  • April 07, 2021

    Prepare For New Climate Rules, UK Pension Plans Told

    Britain's pensions watchdog told trustees of retirement plans on Wednesday that they will soon have to focus much more on climate change and the impact of their investments on the environment under a new regulatory agenda.

Expert Analysis

  • 3 Lessons For UK Litigators In Virtual Trials

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    UK litigators should note several best practices for adapting to the hurdles, and capitalizing on the benefits, of virtual trials, and expect the new hearing format to persist beyond the end of the pandemic, say Christopher Boyne and Emma Laurie-Rhodes at Debevoise.

  • SEC Data Transfer Safe Harbor Raises Questions For UK Cos.

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    The U.K. Information Commissioner's Office recently authorized British companies to transfer U.K. subjects’ personal data to facilitate U.S. Securities and Exchange Commission investigations, but companies need more detail on how to invoke the safe harbor or handle EU data subjects, say attorneys at Davis Polk.

  • COVID-19 Insurance Issues To Watch In Civil Law Countries

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    A recent decision from a Spanish court of appeals shows that COVID-19 business interruption coverage disputes may not have outcomes that would be expected in common law countries, say Miguel Torres at Martínez-Echevarría & Rivera Abogados and José Umbert at Zelle.

  • Remote Working Tips For Lawyer Trainees And Their Firms

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    The prospect of joining a law firm during the pandemic can cause added pressure, but with a few good practices — and a little help from their firms and supervising attorneys — lawyer trainees can get ahead of the curve while working remotely, say William Morris and Ted Landray at King & Spalding.

  • What Growing Focus On ESG Means For Insurers

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    As the world pays steadily more attention to environmental, social and governance issues, insurers and reinsurers will need to integrate ESG risks into their underwriting and compliance efforts, but doing so will help attract consumers and achieve positive investment returns, say attorneys at Debevoise.

  • Finance Firms May See Increased FCA Enforcement This Year

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    Financial firms will likely see increased investigation and enforcement actions from the U.K. Financial Conduct Authority following Brexit and the COVID-19 pandemic, including in the areas of financial crime, customer protection, operational resilience and conduct, says Tracey Dovaston at Boies Schiller.

  • UK Supreme Court Ruling Clarifies Arbitrator Bias Standard

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    The U.K. Supreme Court's judgment in Halliburton v. Chubb, likely the court's most important decision in the area of international arbitration in the past decade, articulates important guidelines for how English courts will police issues of arbitrator disclosure and bias, even as it fuels concerns among insurance policyholders, say Allan Moore and Ramon Luque at Covington.

  • Evaluating Ethical And Legal Risk In Ransomware Payments

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    Deciding whether to pay the demanded ransom during a cyberattack is complex and requires a careful balancing of the risks to the firm's business against the reputational and regulatory risks, but companies can also prepare for this eventuality by taking concrete steps now, say Rob Dedman and Kim Roberts at King & Spalding.

  • How Climate, Finance And Trade Will Intersect In 2021

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    In the coming year, the Biden administration will likely align its policies on climate change, finance and trade more closely with those of international partners and organizations, leading to more coordinated action on climate standards that will be applied across the global economy, say consultants at C&M International.

  • Perspectives

    Finding A Path Forward To Regulate The Legal Industry

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    Gerald Knapton at Ropers Majeski analyzes U.S. and U.K. experiments to explore alternative business structures and independent oversight for law firms, which could lead to innovative approaches to increasing access to legal services.

  • Whether And How To Compel Remote Arbitration

    Excerpt from Practical Guidance
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    As the pandemic delays in-person arbitration hearings, mediator and arbitrator Theodore Cheng provides arbitrators with a checklist to examine the rationale and authority for compelling parties to participate in remote hearings.

  • Creditors Welcome UK Supreme Court's Reflective Loss Decision

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    The U.K. Supreme Court's recent Sevilleja v. Marex decision benefits creditors and other stakeholders by excluding their claims from the reflective loss principle, which precludes third-party complaints that merely reflect company loss, say Robert Fidoe and Jack Moulder at Watson Farley.

  • How Courts Are Encouraging Mediation In England And Wales

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    As the judiciary braces for widespread pandemic-driven contractual disputes, courts in England and Wales are showing enthusiastic support for mediation, both when determining the implications of a party's refusal to mediate and when assessing whether normal restrictions on the use of mediation-derived information apply, says Leah Alpren-Waterman at Watson Farley.

  • Opinion

    EU Class Action Policy Guided By Wrong Measure Of Success

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    The political agreement obtained last month on the first European Union-wide rules on collective redress illustrates the fact that the main goal of the authorities is to increase the number of class action claims rather than focus on the application of standard civil liability principles, says Sylvie Gallage-Alwis at Signature Litigation.

  • An Attractive Regime For Governing Jurisdiction Post-Brexit

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    As indicated by the U.K.'s recent application to join the Lugano Convention, this is an "oven-ready" option for the U.K. for governing questions of jurisdiction and the enforcement of judgments with European Union countries after Brexit — but not without important differences from the current regime, say attorneys at Latham.

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