Scammers are shifting away from lucrative "crash-for-cash" insurance fraud following a series of successful convictions, closer ties between police and insurers and the emerging threat of jail sentences for contempt of court, police and attorneys say.
This past week has seen a Kazakhstan lender file fraud claims against a dissolved London-based business, a Dubai airport security equipment company sue Barclays, and Yamaha's motorcycle business file claims against a German insurer. Here, Law360 looks at those and other new claims in the U.K.
Insurers Dual Australia and QBE Insurance have settled a £253,000 ($323,000) dispute over the cost of indemnifying an Australian fishing company following an investigation into the death of a sailor on the high seas seven years ago, according to court documents.
British insurance firms are flouting European rules aimed at safeguarding consumers, the Financial Conduct Authority has said, warning that it will take action against insurers that fail to identify the needs of their customers.
Britain’s pensions regulator has said it will focus over the next three years on ensuring that workplace schemes are protecting their members' funds, after a year of sanctions against rogue companies that have dodged their responsibilities for safeguarding retirement savings.
Swiss insurance giant Zurich can ask a criminal court to imprison an ageing rock-and-roll singer for lying about the underlying causes of his hearing loss in a claim for damages, a London appeals court said Friday.
The Court of Appeal rebuffed The Pensions Regulator on Thursday for attempting to squeeze a cross-appeal on valuation into its defense of an enforcement action requiring ITV to plug a troubled pension scheme's funding gap, saying it does not have jurisdiction to entertain the request.
The U.K.'s banking supervisor warned Thursday against Britain becoming a "rule-taker" after Brexit, stressing it was important for the country to shape its own rules for the financial services sector.
An appeals court on Thursday ruled in favor of the U.K.’s Department for Work and Pensions over the assessment of income from a personal pension plan, after concluding that the lower court failed in its interpretation of the State Pension Credit Regulations.
Lawmakers have repeated calls for the City watchdog to ban financial advisers from charging clients after they carry out a pension transfer, it was revealed on Thursday, amid fears the practice is fueling a misselling scandal.
A $615,000 lawsuit filed by Claire’s Stores and its insurer against shipping giant A.P. Moller-Maersk A/S over thousands of cartons of clothing accessories allegedly lost or damaged at sea has been stayed for the second time by a London court, according to a recent court filing.
European insurers have told the European Union’s top insurance watchdog that it must not pen regulatory rules that could hurt innovation in the insurance market, as the bloc weighs the opportunities and risks of using “big data” in new products.
The Pensions Regulator urged the Court of Appeal on Wednesday to uphold its enforcement action requiring ITV to give financial support to a troubled pension scheme, saying the broadcaster’s association to the entities that are now unable to meet their financial obligations puts it on the hook.
Insurance brokers seeking money from a law firm for allegedly fumbling a break clause in a property lease have told a London judge they're having a hard time finding tenants to take over their space because the market for secondhand offices in London is cold.
Brokers that find flaws in the cyber insurance policies offered by insurers must challenge them to ensure that their business customers have the right level of cover, a company that analyzes insurance governance said on Wednesday.
Britain's pensions watchdog said Wednesday it is cracking down on employers that break the law by flouting their duty to automatically enroll workers in saving schemes, and will carry out a series of targeted inspections over the summer.
The owner of Clydesdale Bank said on Wednesday it has earmarked an additional £30 million ($38.5 million) to cover customer complaints about being wrongly sold controversial payment protection insurance as the deadline for making claims approaches.
Complaints against financial services companies have hit a five-year high, the industry’s adjudicator reported on Wednesday, with a huge spike in criticism about so-called payday lenders being blamed for the rise.
The Fifth Circuit affirmed on Monday that federal policy relating to international arbitration trumps a Louisiana statute barring arbitration agreements in certain insurance contracts in the state, even when a contract stipulates that it will conform with local state law.
Banks and insurers must ensure they can continue providing services to their customers and the wider economy if they are infected with cyberattacks or plagued by IT outages, the Bank of England said Tuesday as it proposed revamping its approach to financial resilience.
A Netherlands dairy distributor, a Kuwaiti insurer and others have filed a £405,600 suit ($524,000) in London court against a Swiss shipping giant over a damaged shipment of cigarettes and milk, according to a recently released court filing.
Two of Britain's most long-awaited financial services cases are set to go to trial in January, giving court watchers plenty to look forward to in 2019 — from complex fraud suits to a showdown over insurance in the Deepwater Horizon Disaster. Here Law360 looks at the key cases coming in the year ahead.
Law360 speaks to Jeffrey Golden, joint-head of 3 Hare Court Chambers, and ex-Delaware Supreme Court justice Randy Holland about the importance of building contacts in different jurisdictions, how 3 Hare Court has been breaking new ground and building up a strong global practice, and which key trends they’re keeping an eye on within the legal industry.
With Britain less than a year from exiting the European Union, firms on Law360’s Global 20 have begun pushing deeper into the countries remaining in the bloc, adding offices and industry specialists in a shift that could rebalance how BigLaw works in the region.
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.
Legislative processes harmonizing collective redress throughout the European Union have accelerated, leading to a proposed requirement that all member states establish collective action mechanisms, but some worry that the directive lacks sufficient guarantees against abusive litigation, say Philippe Métais and Elodie Valette of White & Case LLP.
The U.S. Supreme Court's unanimous ruling on Wednesday in Obduskey v. McCarthy & Holthus LLP removes nearly all activities taken by creditors seeking nonjudicial foreclosure of liens and mortgages from the ambit of the Fair Debt Collection Practices Act, says John Baxter of Nelson Mullins Riley & Scarborough LLP.