Even though the U.K. Supreme Court ruled overwhelmingly in favor of policyholders in its landmark business interruption insurance decision Friday, lawyers say litigation over pandemic coverage is likely to continue amid fights over exactly how much insurers are willing to pay out.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
More corporate clients than ever have pursued third-party litigation funding in England this year, as the COVID-19 pandemic has forced businesses to think more conservatively and try to prioritize the cash on their balance sheets.
Australia's recent decision to introduce a licensing regime for its litigation funders has stirred up attention across the industry, but experts say it appears unlikely that the U.K. will move beyond its current combination of light-touch regulation and court oversight.
UPDATED March 22, 2021, 10:35 AM GMT | As courts across the region take measures to prevent the spread of the novel coronavirus, some are restricting access and altering their procedures. Here is a roundup of changes.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.