The U.K.'s top insurers are watching for a bump in vacation-related claims after Monday's sudden collapse of travel agency Thomas Cook, though industry experts cautioned frustrated travelers to try their credit card company or a government-backed bailout scheme before turning to insurance.
British Prime Minister Boris Johnson’s decision to suspend Parliament shortly before Brexit was unlawful, the U.K. Supreme Court ruled on Tuesday in a judgment allowing lawmakers to resume debate in the final weeks before the country is set to leave the European Union.
Investors in Gable Insurance AG have continued pressing their claims in the High Court in a £1.9 million ($2.3 million) lawsuit that the defunct Liechtenstein company's former chief executive concealed a major fraud to lure investments while he funneled money to a company he owned.
The U.K. Supreme Court will rule Tuesday on whether Prime Minister Boris Johnson unlawfully suspended Parliament for five weeks earlier this month, according to a statement issued by the court Monday.
A Munich Re-backed insurance technology firm said Monday it will introduce flexible policies for drivers for ride-hailing services with as little as seven days’ coverage as the private-hire insurance market tries to adapt to the surge in popularity of companies such as Uber and Lyft.
Banks from 46 countries with more than $47 trillion in assets have adopted new United Nations-backed principles on “responsible banking” to fight climate change and increase focus on sustainable finance.
Britain’s finance watchdog on Friday named a longtime financial services expert with experience in banking and insurance to be its new executive director of risk and compliance oversight.
Two investors have sued Wirecard AG for €33 million ($36.3 million), expanding their London legal fight claiming they were intimidated into selling their stock in a financial services company just before it was sold to the German payments provider for a windfall.
An Indian insurer signed off on plans to haul a barge stranded at sea in foul weather and shouldn't shirk its obligation to pay the $1.6 million cost, the vessel's Dubai owner told a London court.
Insurer Legal & General said Friday it will offer individual annuities to some Prudential customers as insurers seek to exit the annuities business after increased capital requirements were imposed in Europe.
The last week has seen an investment banker sue his former Mishcon De Reya LLP lawyers following a failed lawsuit against Newcastle F.C.'s billionaire owner, a foreign exchange business drag the head of its Irish operations into court and an Enterprise insurance unit take action against its Greek brokerage arm. Here, Law360 looks at those and other new claims in the U.K.
The Financial Conduct Authority has urged financial advisers to record interactions with their clients to help ensure that “better quality” recommendations are being made and “provide the most robust evidence” if a consumer brings a complaint.
Charles Taylor, a U.K.-based insurance services provider guided by Davis Polk, agreed to a £261 million ($325.4 million) private acquisition by a firm formed on behalf of funds advised by Lovell Minnick Partners, the companies said Thursday.
AXA Liabilities Managers completed the acquisition Thursday of a portfolio of insurance policies, excluding life insurance, from Munich Re's Malaysian subsidiary on the approval of Malaysia's High Court.
European Union trading rules that came into force in 2018 have made research costs more transparent and saved money for investors, the Financial Conduct Authority said Thursday, although it urged asset managers to refine the way they value the information they buy.
Insurer AIG has defended the decision to scrap an entire load of water-damaged lamps in its lawsuit against Swiss shipping giant MSC, telling a London court that selling lamps that had been exposed to water could be dangerous even if they worked initially.
The U.K.’s deposit protection fund said Thursday it would handle consumer claims against a pension administrator that fell into administration because it could not afford to compensate customers for not ensuring that their investments were suitable for them.
Prime Minister Boris Johnson’s decision to suspend Parliament is a political issue that cannot be decided by the courts, a lawyer for Britain’s premier said Wednesday, telling the U.K. Supreme Court it would be “constitutionally inappropriate” to intervene.
Insurance broker Staveley Head Ltd. has implicated its subcontractor in an £8.8 million ($11 million) dispute with two insurers, arguing that the claims management company should be on the hook for any damages in the case.
Lloyds Bank PLC is seeking a quick win in London court on litigation it filed seeking permission to add a sentence to an employee pension plan agreement that it says was inadvertently left out and could ultimately cost the bank more than £25 million.
Lloyd's of London will take further steps to tackle workplace sexual misconduct after an independent survey found evidence of harassment against female employees, the chief executive of the 330-year old insurance market said Wednesday.
A U.K. departure from the European Union on Oct. 31 without a deal or transition period is now "very real" in the absence of any new British proposals that would get ratified in Parliament, the European Commission president warned Wednesday.
Law firm Slater and Gordon slammed allegations it used a "secret back channel" to gain leverage over Watchstone Group PLC during negotiations to buy the insurance group's legal services subsidiary, telling a London judge that it was no secret the company had cash flow problems.
Europe's insurance watchdog called for new rules on how insurers should identify and report cyberthreats to protect themselves and policyholders against the increasing threat of online attacks.
Shortcomings stemming from the regulatory structure of legal services created 12 years ago in the United Kingdom, including confusion about who is regulated and an inconsistency between consumer expectations and the breadth of protection, should spur additional reforms, according to an interim report published Tuesday by University College London.
Lloyd’s of London denied misleading one of its members into believing he could temporarily change his underwriting classification, a move the longtime underwriter said is expected to cost him more than £5.8 million ($7.2 million).
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.
My conservative, Catholic parents never skipped a beat when accepting that I was gay, and encouraged me to follow my dreams wherever they might lead. But I did not expect they would lead to the law, until I met an inspiring college professor, says James Holmes of Clyde & Co.
Paul Martenstyn of Vannin Capital and Daniel Spendlove of Signature Litigation share their top tips on how to get a case funded, drawing from their respective experience as a funder and a lawyer.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.