Try our Advanced Search for more refined results

Insurance UK

Featured

UK Biz Interruption Ruling Unlikely To Stem Tide Of Litigation

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.
January 21, 2022
UK Litigation Roundup: Here's What You Missed In London

The past week in London has seen more than 3,000 motorists go after a German carmaker, Fladgate LLP face a professional negligence claim from an investment group, and a Hungarian airline sue the publisher of its in-flight magazine. Here, Law360 looks at these and other new claims in the U.K.
January 21, 2022
Squire Patton Guides Engineering Co. On £250M Pension Deal

A British engineering company has said it has insured £250 million ($339 million) of liabilities in its retirement scheme with Pension Insurance Corporation PLC.
January 21, 2022
AIG Fights £10M Claim From Law Firm Clients Over Transfer

AIG has hit back against a lawsuit for more than £10 million ($13.5 million) from clients of a law firm it insured, saying they waited too long to file their claim for deposits they paid to their lawyers that they never got back.
January 21, 2022
Dirty Martini Bar Owner In New COVID Biz Interruption Dispute

The owner of cocktail bar chain Dirty Martini will launch a group action test case in the English courts against its insurer in an attempt to recover losses suffered through business interruption during the coronavirus pandemic, the company's law firm has said.
January 21, 2022
Get Ready For Disaster Stress Test, BoE Tells Insurers

The Bank of England's regulatory arm has called on insurers to respond to the cyberattack and natural disaster scenarios that it plans to use in an upcoming stress test for the sector.
January 21, 2022
Marsh Partners With Tech Co. Over Climate Risk Reporting

Insurance broker Marsh has worked with a technology start-up to help businesses manage their environmental risks, before new regulations on climate-risk reporting are introduced this year.
January 20, 2022
Gov't Underpaid Women £1B In State Pensions, MPs Find

The government has underpaid the state pension of 134,000 Britons of retirement age — mostly women — by more than £1 billion ($1.4 billion) as the result of a string of administrative errors dating back 37 years, senior lawmakers concluded in a report published on Friday.
January 20, 2022
Insurer Accuses Broker Of Concealing Info In Fire Claim

Liverpool Victoria has hit its broker with a £200,000 ($272,000) damages claim for allegedly concealing information about the director of a property firm who sued the insurer for a £2 million payout after a building caught fire.
January 20, 2022
Hogan Lovells Guides £1.7B Pension Deal For Gallaher

A tobacco giant based in Britain has offloaded £1.7 billion ($2.3 billion) of its pension liabilities to Standard Life, the insurer said on Thursday, in the second mega-deal for the retirement market this year.
January 20, 2022
EU To Assess Whether Funds Value Less-Liquid Assets Fairly

Europe's markets watchdog said on Thursday that it will launch a bloc-wide exercise to ensure that mutual funds are fairly pricing assets that are harder to sell.
January 20, 2022
Pension Deals Likely To Hit UK Record £65B In 2022

Businesses in Britain are likely to offload approximately £65 billion ($88.5 billion) of retirement scheme liabilities to insurers this year, a broker said on Thursday, which could make it the biggest year ever for pension deals.
January 19, 2022
EU Insurers Call For Changes To Solvency Rules

European insurers have said that capital adequacy regulations for the industry need to be amended, to free up cash to invest in the region's economy as it recovers from the COVID-19 crisis.
January 19, 2022
Pensions Industry Body Criticizes Gov't Investment Rules

A government plan to adjust charges on retirement savers might not succeed in boosting investment in the wider economy, a pensions industry body has warned.
January 19, 2022
FCA Warns EU Firms To Follow Rules Or Be Shut Down

The City watchdog warned European financial companies that they must follow post-Brexit U.K. standards to continue operating in Britain, after banning four of the bloc's firms that had ignored its information requests.
January 19, 2022
Insurers Call For Pension 'Dashboards' To Be More Interactive

The government should consider making proposed new online pension portals more interactive to appeal to younger Britons, insurers said on Wednesday, after a survey for a trade body for the sector suggested that 60% of people will use the service.
January 19, 2022
New FCA Rules Limit Digital Products To Seasoned Investors

Only experienced investors will be able to respond to adverts for crypto-assets under proposals floated by the City watchdog on Wednesday, after the government said the regulator would police financial promotions of these products.
January 18, 2022
Cambridge Dept. To Research Geopolitical, Climate Risks

A risk study unit at the University of Cambridge has announced it has set up an insurance research consortium focused on protecting society from systemic risks such as pandemics, climate change and geopolitical upheaval.
January 18, 2022
Soccer Club Sues Axa Over COVID Biz Interruption Policy

A semi-professional soccer club has sued AXA Insurance to recover losses it suffered when government restrictions imposed during COVID-19 forced it to shut down, saying the insurer must pay out after a landmark U.K. Supreme Court decision.
January 18, 2022
Audit Watchdog's Budget Rises, Expects More Enforcement

Britain's audit watchdog said Tuesday that its costs will rise by £9.1 million ($12.4 million) to £60.6 million in 2022 as it transitions into a tougher agency with an increased focus on enforcement cases.
January 18, 2022
Lawmakers Call For Gov't Support For Pension Freedoms

The government faces the prospect that its landmark reforms that introduced pension freedoms will be seen as an historical failure unless it does more to support people making decisions about their livelihoods, a parliamentary committee warned on Tuesday.
January 18, 2022
Justices Will Not Review Lloyd's Arbitration Fight

The U.S. Supreme Court will not review a Ninth Circuit decision permitting a group of British insurance underwriters to force arbitration of a dispute over coverage for property damage caused by Hurricane Harvey despite a state law barring the arbitration of such feuds.
January 18, 2022
Conveyors' Body Mulls Mandatory Cyber-Insurance For Firms

The licensed conveyors' watchdog has launched a consultation on whether it should make stand-alone insurance for cyberattacks compulsory as it looks to update its policy on professional indemnity cover.
January 18, 2022
Pensions Watchdog Warns Over Failure To Report Crime

The retirement savings watchdog warned on Tuesday that too few trustees are reporting attempted fraud to the police, making it difficult to determine the scale of the threat to pension savers.
January 18, 2022
Lawmakers Launch Inquiry Into London Insurance Regulation

A House of Lords committee has launched an investigation into the regulation of the London insurance market, and will examine whether policy can be amended to boost international competitiveness in the wake of Brexit.
January 17, 2022
Gov't Forced To Repay £835M In Overpaid Pensions Tax

The government has had to hand back an estimated £835 million ($1.1 billion) in overpaid tax since reforms in 2015 that introduced pension freedoms, according to figures published on Monday, as experts called for a fundamental shake-up to the system.

Editor's Picks

Litigation Funding Demand Rises As Pandemic Suits Percolate

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.
Reforms Abroad For Litigation Funders Raise Questions In UK

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.
Coronavirus: The Latest EU Court Closures And Restrictions

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.

Expert Analysis

Issues To Watch In Potential English Arbitration Act Reform

Summary dismissal, confidentiality, technological updates and certain other topics that could fall under the England and Wales Law Commission's upcoming review of the 25-year-old Arbitration Act should be of particular interest to those considering an English-seated arbitration, say Neil Newing and Alasdair Marshall at Signature Litigation.
UK's Vicarious Liability Juggernaut Shows Signs Of Slowing

In the last five years, U.K. court decisions have generally broadened the scope of vicarious liability, holding organizations responsible for individuals' crimes, but more recent decisions suggest that courts are finally taking steps to limit such liability, say Stephanie Wilson and Philip Tracey at Plexus Legal.
What 9th Circ. Arbitration Case May Mean For Insurance

If the plaintiffs in CLMS Management Services v. Amwins Brokerage of Georgia appeal the Ninth Circuit's recent decision that state law does not bar the enforcement of arbitration clauses in insurance contracts, the case may have a significant effect on the different dispute resolution options for insurers and policyholders, say attorneys at Sheppard Mullin.
UK Focus On Int'l Data Transfers Shows Appetite For Reform

Recent U.K. public consultations on international transfers of personal data and structural amendments to the country's General Data Protection Regulation illustrate the post-Brexit appetite for reform and signal changes to the international data transfers regime, say Kate Brimsted and Tom Evans at BCLP.
Policyholder Outlook Following UK Biz Interruption Test Case

In the nine months since the U.K. Supreme Court ruled in favor of policyholders in the Financial Conduct Authority’s test case on insurance coverage for COVID-19 businesses interruption claims, similar lawsuits filed against insurers show that a positive outcome for insureds is not guaranteed, say Peter Sharp and Paul Mesquitta at Morgan Lewis.
What The Future Holds For UK Auditing Reform

The U.K.'s Financial Reporting Council has shown itself to be an increasingly effective and proactive regulator in its final months, and the greater powers of its incoming replacement — the Audit, Reporting and Governance Authority — will likely continue an era of heightened scrutiny for auditors, say Paul Brehony and Kate Gee at Signature Litigation.
How UK Data Breach Ruling May Rein In Insurance Claims

The recent U.K. High Court ruling in Warren v. DSG Retail, which held that claimants can only pursue personal data claims provided for in data protection legislation, narrows the basis upon which claims can be made following a data breach, and could make lower-cost recovery of after-the-event insurance premiums a thing of the past, say attorneys at Jenner & Block.
2nd Circ. Arbitral Award Ruling Signals Restrictive Approach

The Second Circuit's recent ruling in Gater Assets v. Moldovagaz, reversing a default judgment arbitration award on jurisdictional grounds, fortifies U.S. court protections for foreign states and state-owned entities, and forecasts the court's conservative approach to when nonparties can be bound by arbitration agreements, say attorneys at Cleary.
Lloyds EU Operations Highlight Challenges For UK Insurers

Potential problems facing Lloyd's Europe could be shared by other U.K. insurers operating in the European Union's more stringent post-Brexit regulatory landscape, but individual countries' discrete provisions allowing for certain cross-border activities could enable a more nuanced approach, says Jeremy Irving at Browne Jacobson.
The Risky Reality Of GDPR Noncompliance

With the General Data Protection Regulation remaining in force in the post-Brexit European Union, businesses should be aware not only of the increasing fines levied for noncompliance, but also of the expenses incurred for lost management time, the professional costs and the reputational damage, says Alexander Egerton at Seddons Law.
An Underused Group Litigation Tool Could Help UK Claimants

Though the Financial Markets Test Case Procedure has only been used as a collective redress mechanism for the first time recently in Financial Conduct Authority v. Arch Insurance, hopefully it will be called on more often to resolve future post-Brexit issues and other pandemic cases, says Becca Hogan at Signature Litigation.
Risk Management Lessons From Recent Finance Co. Failures

Investor exposure to Archegos Capital and Greensill Capital before their high-profile collapses earlier this year show puzzling lapses in internal controls and highlight key risk management considerations for investors, says Benedict Roth at Martello Financial Services.
3 Risk Management Lessons From Pandemic Insurance Wars

As appellate decisions in COVID-19 business interruption insurance claims continue to clarify the state of the law, there are some things that policyholders' lawyers and risk managers can do in the meantime to help prepare for future unforeseen events affecting coverage, says Peter Halprin at Pasich.
What New UK Money Laundering Law Means For Fintech

New U.K. money laundering legislation will likely benefit electronic money and payment institutions, but an increase in state forfeiture powers and a lingering possibility of a broad failure-to-prevent offense leave the fintech industry's regulatory future uncertain, say Andrew Herd and Helena Spector at Red Lion Chambers.
UK Bill Must Navigate Crosscurrents Of Internet Regulation

The U.K.'s draft Online Safety Bill seeks to regulate a broad swath of online content and internet services but faces a number of potential implementation challenges, including balancing digital safety with freedom of expression and administering regulatory goals with frequently opposing objectives, say Ben Packer and Jemma Purslow at Linklaters.