Insurance UK

  • October 20, 2020

    GRP-Backed Marshall Wooldridge Buys Regional Broker

    Insurance broker Marshall Wooldridge, part of Global Risk Partners, said on Tuesday that it has acquired R F Broadley, an English company specializing in farm cover run by a husband and wife team.

  • October 19, 2020

    EU Presses UK To Move On Irish Border VAT, Customs Checks

    European Union leaders urged the U.K. on Monday to set up a means for conducting customs and value-added-tax checks at Britain's border with Ireland before Jan. 1 if talks fail to produce a post-Brexit free trade deal.

  • October 19, 2020

    Greek Bank Defends Insurance Settlement In Tanker Row

    Counsel for a Greek lender told a London judge at trial on Monday that the owners of a wrecked oil tanker owe millions in unpaid loans after the lender tried to recover as much as it can from the vessel's insurers.

  • October 19, 2020

    Insurers Call On EU To Act Over Long-Term Investment Funds

    European insurers urged the European Commission on Monday to revise regulations governing long-term investment funds to make it easier for institutional investors and insurers to make contributions.

  • October 19, 2020

    Tests For Superfund Transfers Could Be Too Strict, LCP Warns

    The U.K.'s retirement savings regulator should ensure that it doesn't impose "too stringent" rules on market consolidation or else risk penalizing savers, a pensions consultancy warned Monday.

  • October 19, 2020

    Gov't Eyes Simplifying 'Impenetrable' Pensions Statements

    The government said Monday it is considering making it a mandatory requirement that pension plans should simplify statements to their members, after raising concerns that communications are "lengthy, inaccessible and inconsistent in design and content."

  • October 19, 2020

    7 Questions For AML Task Force President Marcus Pleyer

    Marcus Pleyer, the new president of the Financial Action Task Force, talks to Law360 about his priorities, including the risks posed by crypto-assets and the role of artificial intelligence in enforcement.

  • October 19, 2020

    Financial Advisers Fear Insurance Poses 'Existential Threat'

    The soaring cost of insurance for professional advisers poses an "existential threat" to the industry, a trade body warned on Monday, as it revealed that costs have soared by 100% in the last five years for a quarter of companies.

  • October 19, 2020

    Film Insurance Plan Launched Amid Criticism Over Delays

    The government has officially rolled out its £500 million ($650 million) program to help cover the insurance costs for film producers affected by COVID-19, amid claims that delays in its launch have resulted in people leaving the sector.

  • October 19, 2020

    Allianz Settles Out Of £3.6M Tower Block Repairs Suit

    Allianz has settled a retail investor's £3.6 million ($4.7 million) lawsuit in London that sought to claw back the cost of repairs to a 16-story residential tower block.

  • October 19, 2020

    Investors Force FTSE 100 Execs To Take Pension Cuts

    Most companies are cutting down their executive pension contributions under mounting pressure from shareholders, who believe managers should not take home extra cash amid the financial turmoil brought on by the COVID-19 crisis, the Investment Association has said.

  • October 16, 2020

    Phillips 66 Misleading Court In Sanctions Bid, Insurer Says

    German insurer HDI Global SE has told the Second Circuit that Phillips 66 made a misleading attempt to play victim with a sanctions motion that tries to paint a reasonable appeal as "delaying the inevitable" payment of a $44 million arbitration award.

  • October 16, 2020

    Forcing UK Attys To Reveal Fees Gets Results, Agency Says

    More than a year after a new rule began requiring U.K. lawyers to publish common pricing information online, fewer consumers think hiring an attorney is out of their price range, new research shows.

  • October 16, 2020

    Who Objected To $2B In Cum-Ex Trades? Not The Lawyers​

    Something's rotten in the state of Denmark's tax collection, and authorities blame a London banker turned Dubai-based hedge fund manager. But in an exclusive with Law360, the accused trader says he merely exploited a perfectly legal loophole in the tax system.

  • October 16, 2020

    Pensions Regulator Receives 200 Requests For Deficit Delays

    The U.K.'s pensions watchdog said Friday it has received requests from around 200 pension schemes for further "flexibilities" on payments toward deficits, as a result of disruption from the COVID-19 pandemic.

  • October 16, 2020

    Claimants Call For Halt On Whiplash Reform As Claims Fall

    Claimant groups have called for the U.K. government to postpone its so-called whiplash reforms, after official figures showed a 38% decrease in personal injury insurance claims last year.  

  • October 16, 2020

    1M Pension Savers Could Move To Superfunds In 10 Years

    An estimated one million long-term savers could have their money transferred to a pension superfund in the next decade, according to analysis by PricewaterhouseCoopers.

  • October 16, 2020

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

    This week in London has seen Societe Generale become the latest big bank to face a suit from a major Dutch housing group, credit reporting giant Experian target Zurich, and the British music copyright collective face an intellectual property claim. Here, Law360 looks at those and other new claims in the U.K.

  • October 16, 2020

    BoE Puts Capital Markets At Forefront Of Climate Fight

    The move toward a green economy is paying dividends, and the financial sector must take advantage of that progress by focusing on sustainability in capital markets, a central banker said on Friday.

  • October 16, 2020

    FCA Plans New COVID-19 Help For Insurance Customers

    The finance watchdog proposed new measures on Friday to protect insurance policyholders and customers with loans who remain in financial difficulty amid the COVID-19 crisis and to ensure that vulnerable consumers get support after existing measures expire on Oct. 31.

  • October 15, 2020

    Allianz Escapes London Cafe's Suit Over Pandemic Coverage

    A  judge has axed a London cafe's lawsuit that sought to force Allianz Insurance PLC to cover its business losses linked to COVID-19 after determining on Thursday that the claim was "bound to fail."

  • October 15, 2020

    Insurer Says Construction Co.'s £1.9M Claim Came Too Late

    Arch Insurance has said a British construction company attempting to claw back £1.9 million ($2.4 million) under its professional indemnity coverage for installing faulty cladding took over three months to report the issue to the insurer, invalidating the claim.

  • October 15, 2020

    40% Of Pension Schemes Eyeing Insurance Deals

    Nearly half of British pension plans are expecting to complete deals to insure liabilities within the next three years, according to research by Willis Towers Watson.

  • October 15, 2020

    Warning As 62% Of Pension Transfers Flagged As Suspicious

    Six in 10 pension transfers that took place in September were potentially linked to scams, a consultancy has warned, as it backed proposed new rules to allow trustees to block suspicious activity.

  • October 15, 2020

    Standards Setter Warns Of Rising Cryptoasset AML Threat

    A global anti-money laundering body has urged governments to implement anti-money laundering standards to guard against risks posed by stablecoins, after it emerged that some states have still not incorporated new measures into their regulatory frameworks.

Expert Analysis

  • 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.

  • Reinsurance Implications Of COVID-19 Biz Interruption Laws

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    In light of legislative and public pressure in the U.S. and U.K. on insurers to cover business interruption losses related to COVID-19, reinsurers will face new questions regarding their obligation to cover claim payments, say Robin Dusek at Saul Ewing and Susie Wakefield at Shoosmiths.

  • UK Appellate Rulings Clarify Arbitral Choice Of Law

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    Two recent U.K. Court of Appeal decisions have changed the operation of the choice-of-law test for arbitration — a resolution as significant as changing the test itself because it affects the implied choices of the contracting parties, say attorneys at Squire Patton.

  • Post-Pandemic Litigation To Expect In England And Wales

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    Globally, we are already starting to see insolvency-related claims and a number of insurance, breach of ‎contract, employment and securities class actions across numerous sectors. These and other claims will likely increase for U.K. businesses, say Tracey Dovaston and Fiona Huntriss at Boies Schiller.

  • UK Lawyers Can Adapt Due Diligence To Screen New Clients

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    As COVID-19-related fraud gains pace, U.K.-based practitioners should help combat money laundering by using alternative methods to verify that new clients are who they say they are, says Christopher Convey, a barrister at 33 Chancery Lane and chair of the Bar Council's Money Laundering Working Group.

  • A UK Business View Of COVID-19's Economic Fallout

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    Covington attorneys Alex Leitch and Harry Denlegh-Maxwell provide a bird's-eye view of how U.K. businesses will navigate the legal and economic aftermath of the pandemic, including discussion of where litigation funding, class actions, insurance disputes and force majeure fit it.

  • Remote Depositions Bring Ethics Considerations For Lawyers

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    Utilizing virtual litigation technologies and participating in remote depositions require attorneys to beware of inadvertently violating their ethical obligations, including the principal duty to provide competent representation, say attorneys at Troutman Sanders.

  • Time For Presumptive Virtual Mediation In The UK

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    While the COVID-19 outbreak is a real-time test of the U.K. justice system’s adaptability and innovation, it is also an opportunity to deliver alternative dispute resolution through virtual technology — and there are two ways in which this could be achieved, says Suzanne Rab at Serle Court.

  • UK 'Property' Classification Boosts Confidence In Bitcoin

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    In AA v. Persons Unknown, the English High Court classified bitcoins as property that can be the subject of proprietary injunctions, indicating the slow but growing acceptance of virtual currencies within the U.K., say Steven De Lara and Colin Grech at Signature Litigation.

  • 3 EU And UK Data Protection Tips During COVID-19

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    Though EU and U.K. data protection laws should not impede the fight against COVID-19, companies must continue to protect individuals' data, and the challenges of managing a remote workforce and the desire for information about the virus’s impact have significant implications for that responsibility, say attorneys at Debevoise.

  • Novolex Case Brings Lessons On R&W Insurance

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    A New York state court dispute between Novolex and a few of its insurers concerning coverage under a representations and warranties policy for a $267 million loss offers a rare glimpse into how a court might interpret acquisition agreements and insurance policy provisions, say attorneys at Hunton.

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