Insurance UK

  • January 23, 2020

    IBM Presses Insurer CEO Over £130M IT Problem Claims

    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.

  • January 23, 2020

    Direct Line Fights Enterprise's £10M Motor Injury Claim

    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.

  • January 23, 2020

    Lloyd's Appoints 'Whistleblower Champion' After Censure

    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.

  • January 23, 2020

    Underwriter CFC Snaps Up Insurtech Cyberrisk Co.

    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.

  • January 23, 2020

    UK Regulators Must Face Scrutiny After Brexit, Report Urges

    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.

  • January 22, 2020

    Reinsurers Object To Redo Of $150M PR Hurricane Dispute

    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.

  • January 22, 2020

    Watchdog Calls For Power To Crack Down On Loyalty Penalty

    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.

  • January 22, 2020

    Serco Shareholders Sue Over Stock Dive After Fraud Probe

    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.

  • January 22, 2020

    Pension Co. Loses Demand For Docs At £86M FCA Trial

    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.

  • January 22, 2020

    UK Cybercrime Laws Need Reform, Report Says

    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.

  • January 22, 2020

    Insurers Launch 'Signposting' Deal For Vulnerable Customers

    Insurance industry bodies have launched a “signposting” agreement to help guide customers with disabilities or existing medical conditions toward getting protection insurance.

  • January 22, 2020

    Controversial Insurance Claims Project Launch Moves Closer

    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.

  • January 22, 2020

    Claims Co. In Liquidation After Losing Appeal On FCA Fine

    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.

  • January 21, 2020

    UK Insurer Goes After Ace Over Amusement Fair Injury

    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.

  • January 21, 2020

    Insurer Fighting Fire Damages Award Faces Doubtful Judges

    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.

  • January 21, 2020

    Pensions Co. Raked In Huge Fees As Savers Lost, FCA Says

    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.

  • January 21, 2020

    UK Brokers Warn Over Rising Cost Of Regulation

    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.

  • January 21, 2020

    Investor Group Calls For Broader Financial Transaction Tax

    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.

  • January 21, 2020

    City Insurer Moves Into Legal Realm With Keoghs Merger

    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.”

  • January 21, 2020

    Regulator Launches Pensions Advice Review, Warns Of Harm

    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.

  • January 21, 2020

    Man Jailed For Using Children To Inflate Insurance Claim

    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.

  • January 20, 2020

    IBM Willfully Breached Deal, Insurer Says At £130M Trial

    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.

  • January 20, 2020

    Allianz Hit With £3.6M Suit Over Property Refit Dispute

    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.

  • January 20, 2020

    Pressure Grows On Gov't For New Pensions Commission

    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.

  • January 20, 2020

    EU Watchdog Hails Chance To 'Close Gaps' In Solvency Regs

    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.

Expert Analysis

  • Mandatory Mediation May Lie Ahead For England And Wales

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    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.

  • Key Risks And Developments For UK Law Firm Culture In 2020

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    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.

  • Cos. Can Start Preparing Now For Immigration Beyond Brexit

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    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.

  • #MeToo Pressure On UK Businesses Is Set To Rise

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    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.

  • Opinion

    UK's Insurer Investigations May Not Help Policyholders

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    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.

  • The Outlook For Autonomous Vehicles In The UK And US

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    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.

  • Brexit's Impact On London As A Top Int'l Arbitration Seat

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    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.

  • Post-Brexit UK Likely To Conform With EU On Human Rights

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    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.

  • The Evolution Of GDPR Enforcement Across The EU

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    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.

  • Series

    Why I Became A Lawyer: Being There For Families In Trouble

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    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.

  • 3 Ways To Leverage Vulnerability For Lawyer Well-Being

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    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.

  • Zurich Case Brings Clarity To Complex Contempt Proceedings

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    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.

  • What A No-Deal Brexit Would Mean For Dispute Resolution

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    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.

  • The Problem — And Opportunity — Of Implicit Bias In The Bar

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    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.

  • Roundup

    Pursuing Wellness

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    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.