British insurers have been busy coming to terms with new regulations over the last year of the decade, but government guidance has not always been straightforward as lawyers weighed their impact on the industry. Here, Law360 looks at the policies that insurers have been implementing throughout 2019.
IBM hammered away Thursday at the chief executive of a British insurer suing for £130 million ($170 million), calling for any evidence that the tech giant failed to report substantial problems with a technology system it was hired to build.
Motor insurer Direct Line said it is not responsible for paying out on an estimated £10 million ($13.1 million) personal injury claim brought by a woman who was knocked down by a stolen rental car because the vehicle was allegedly not insured at the time.
Lloyd’s of London has appointed a so-called whistleblowers’ champion to its board, a month after a financial regulator censured the corporation for cutting off a hotline for reporting wrongdoing.
Specialist insurer CFC Underwriting has bought ThreatInformer, an insurance technology company that uses data to identify how exposed business customers are to the risk of cyberattack.
Parliament must scrutinize Britain’s finance watchdogs to ensure they protect the country's markets after Brexit, as they will no longer be held to account by the European Union, regulatory experts warned on Thursday.
A group of reinsurers is urging a Puerto Rico federal judge to stick with his decision to send an insolvent insurer's $150 million suit over hurricane damage reinsurance claims to arbitration, saying the insurers’ arguments are either old or too late.
The U.K.’s antitrust watchdog has called on the government to hand it power so that it can directly fine mortgage lenders and insurers that it believes are breaking laws aimed at preventing long-standing customers from paying higher fees.
Dozens of shareholders in Serco are suing the company at the High Court to seek compensation after share prices were devastated in 2013 by fraud and false accounting revelations over the electronic tagging service the security outsourcing giant operated for the government.
A judge barred a pension company on Wednesday from seeing documents linked to an investigation by the Financial Conduct Authority into its business partners, hindering its efforts to deflect blame for allegedly misleading consumers at an £86 million ($113 million) trial.
Britain’s cybercrime laws need to be brought into the 21st century, according to a legal report published Thursday that warns outdated rules could lead to courts prosecuting professionals who have ethical motives for accessing company data.
Insurance industry bodies have launched a “signposting” agreement to help guide customers with disabilities or existing medical conditions toward getting protection insurance.
Law firms can now register to use an online "portal" for clients with low-value claims for injuries such as whiplash, the Motor Insurers’ Bureau said on Wednesday, as the April deadline for legislative reform draws near.
A claims management company has gone into liquidation after failing in a legal appeal to have a fine of £91,000 ($119,000) wiped out, the Financial Conduct Authority said.
A U.K.-based insurer has slapped Ace American Insurance with a breach of contract suit in Tennessee federal court that alleges the U.S. firm acted in bad faith by refusing to cover an amusement park employee’s injuries from an electric shock.
A panel of appellate judges expressed skepticism Tuesday at an insurer’s contention that a U.K. bedding weaver was overpaid by more than £1.4 million ($1.8 million) for losses suffered in a fire.
A pensions “introducer” promised consumers unrealistic, sky-high returns if they sunk their retirement savings into risky overseas investments and reaped huge commission fees as the projects failed, the financial services watchdog said at trial Tuesday.
The cost of regulation for insurance brokers in Britain is higher than almost anywhere else in the world, a trade body warned on Tuesday as it unveiled in Parliament its lobbying goals for the year ahead.
Europe should extend its proposed tax on financial transactions to include the currency market, a “privileged playground” that trades more than $5 trillion every day, to make financial institutions pay their share of the tax, a consumer group said Tuesday.
A London-based insurance specialist has made its first move into the legal services world with the acquisition of top-50 law firm Keoghs, in a deal the companies say will create an "insurance and risk-management powerhouse.”
Britain's top financial regulator launched a review of savings advice on Tuesday as it acknowledged that the market has changed “significantly" since controversial pension freedom reforms were introduced five years ago.
A husband and wife have been sentenced for falsely telling their insurer that their children were in the back of a car in a road accident as they attempted to inflate the value of their claim.
IBM willfully defaulted on a contract to build an IT system for a British insurance company and was “reckless to the consequences of that breach,” an attorney for the insurer said Monday at the start of a £130 million ($170 million) trial.
A real estate investor is suing Allianz and another insurer for £3.6 million ($4.7 million) for allegedly failing to pay for the cost of fixing defective refurbishment work carried out on the tallest residential block in an eastern English county.
Research groups have reached across the political aisle to put out a joint call for a new pensions commission in Britain, as questions about auto-enrollment and the state pension age continue to occupy experts and savers.
A controversial review of Europe's Solvency II Directive has been described by a European financial regulator as a chance to “close gaps” in insurance legislation.
With the Financial Conduct Authority's deadline for consumers to file claims for compensation for missold payment protection insurance fast approaching, the watchdog is set to put a cap on the long-running scandal. Here, Law360 looks back at how the regulatory response unfolded.
The recent explosion in technological innovations designed to streamline the insurance business has raised a host of questions for carriers, including whether they can use artificial intelligence and blockchain in their underwriting and claims handling processes. Here, Law360 looks at three emerging types of insurance technology and the regulatory questions they raise.
Even though the Financial Conduct Authority only used its partial settlement process for the third time in April, attorneys say the system is proving to be a success for individuals and companies facing disciplinary action from the watchdog.
The U.K. Court of Appeals' decision in Lomax v. Lomax, among other recent developments, show significant judicial support for compulsory mediation of appropriate civil and commercial cases in England and Wales, say Margarita Michael and Grace Spurgeon of O'Melveny.
In 2020, law firms throughout the U.K. will be increasingly reshaped by rapid changes in societal expectations and advances in technology, say Helen Rowlands and Niya Phiri of Clyde & Co.
Ahead of the U.K.'s likely departure from the European Union on Jan. 31, 2020, companies should use the one-year transition period to help workers understand any new registration requirements, evaluate budgetary concerns and expedite any employee relocations, say Julia Onslow-Cole and Charlotte Wills at Fragomen.
Recent declarations by the Financial Conduct Authority and Prudential Regulation Authority indicate that sexual harassment in the U.K.'s financial services industry may lead to consequences under the newly expanded Senior Managers and Certification Regime, and other sectors are facing growing scrutiny as well, say attorneys at Covington.
The U.K. Ministry of Justice's recent investigations into insurers suspected of not passing on savings to consumers suggests insurers may see consequences for their hollow promises, but only if the government follows through to hold insurers accountable, says Tom Jones of Thompsons Solicitors.
As both the U.K. and U.S. governments continue to develop regulatory frameworks for autonomous vehicles, manufacturers can take certain steps to avoid litigation and manage risk, say attorneys at FaegreBD.
Despite concerns that London may be considered a less attractive place to do business post-Brexit, there are many reasons to believe that the city will retain its position as a globally favored arbitral seat, say Adrian Jones and James Wagner at FaegreBD.
In a recent speech, U.K. Foreign Secretary Dominic Raab stated his intent to expand sanctions for human rights violations by extending the so-called Magnitsky amendment, strongly indicating that Britain's exit from the EU would be unlikely to disrupt coordinated efforts to address international transgressions against human rights, says Stephen Baker at Baker & Partners.
With the last few months bringing significant fines to major businesses that have breached the European Union's General Data Protection Regulation, it is clear that regulators are moving away from the light-touch approach they employed during the transition to the new rules, says James Simpson of Blaser Mills.
My parents' contentious, drawn-out divorce was one of the worst experiences of my life. But it taught me how to be resilient — and ultimately led me to leave corporate litigation for a career in family law, helping other families during their own difficult times, says Sheryl Seiden of Seiden Family Law.
Admitting to imperfection is an elusive construct in the legal industry, but addressing this roadblock by capitalizing on vulnerabilities can increase personal and professional power, says life coach and attorney Julie Krolczyk.
The U.K. Court of Appeal's recent decision in Zurich v. Romaine provides insight into the meaning of "in the public interest" in the context of bringing contempt proceedings against a party or witness who verifies false claims, says Matt Peacock of Signature Litigation.
In the event of a no-deal Brexit, arbitration may become a more attractive option as a dispute resolution mechanism, as it offers relatively easy enforcement and clauses that could negate some uncertainty caused by Brexit, says Donna Goldsworthy of BDB Pitmans.
Law firms are beginning to recognize implicit bias as a problem. But too few recognize that it is also an opportunity to broaden our thinking and become better legal problem solvers, says Daniel Karon of Karon LLC.
In this Expert Analysis series, leaders at some of the law firms that committed to the American Bar Association's 2018 pledge to improve mental health and well-being in the legal industry explain how they put certain elements of the initiative into action.