Insurance UK

  • August 11, 2020

    Lloyd's Of London Picks Insurtechs For Virus Response

    Lloyd's of London said Tuesday it has recruited 10 insurance technology startups to help develop a market response to the COVID-19 pandemic.

  • August 11, 2020

    CMA Orders Ardonagh To Not Integrate New Bike Broker

    The U.K.'s competition watchdog has ordered insurance consolidator Ardonagh not to integrate a newly acquired motorcycle broker into its wider business until an investigation is completed.

  • August 11, 2020

    Holiday Park Owner Sues Insurers Over £59M COVID Losses

    A U.K holiday park operator is suing its Lloyd's of London syndicate to try and recoup some of the £59 million ($77.4 million) it claims to have lost as a result of the COVID-19 pandemic.

  • August 11, 2020

    Claire's Settles With Shipping Giant Over Lost Accessories

    Teen jewelry retailer Claire's Stores and its insurer have settled a $615,000 lawsuit with A.P. Moller-Maersk A/S after the shipping giant allegedly lost and damaged thousands of cartons of fashion accessories at sea.

  • August 11, 2020

    FCA Relying On Auditors To Flag Issues Amid COVID-19 Crisis

    The Financial Conduct Authority has written to auditors instructing them to alert it of any uncertainties they identify when doing their work, in line with efforts to prevent firms being harmed during the COVID-19 crisis.

  • August 11, 2020

    FCA Extends Insurance Virus Breaks For 3 Months

    The Financial Conduct Authority on Tuesday extended for a further three months temporary measures to help consumers who are struggling to pay their insurance premiums during the coronavirus pandemic.

  • August 11, 2020

    Gibson Dunn Nabs Kirkland Atty For London Finance Team

    Gibson Dunn & Crutcher LLP said Monday it has hired a finance attorney from Kirkland to join its global finance team as a partner in its London office.

  • August 10, 2020

    Developer Sues AXA For Claiming 1MDB Links Void Policies

    A London property developer has accused AXA of shirking a £3 million ($3.9 million) payout after the insurer claimed that Berkshire Assets' ties to a former Goldman Sachs banker caught up in the 1MDB scandal voided two of their policies.

  • August 10, 2020

    London Remains Choice City To Arbitrate Shipping Cases

    The vast majority of businesses are choosing to settle international maritime disputes in London, far outpacing the city's strongest competitors Singapore and Hong Kong, law firm HFW said in research released Monday.

  • August 10, 2020

    Rothesay Cleared To Shift EU Policies To Dublin After Brexit

    A London judge has cleared English insurer Rothesay to transfer £114 million ($149 million) worth of insurance policies to an Irish insurer to ensure the plans are administered after the U.K.'s transition out of the European Union becomes finalized.

  • August 10, 2020

    FCA Wins £10.7M Redress For Risky Pension Investments

    A London court has ordered three men and two companies to pay £10.7 million ($14 million) in compensation after ruling they violated financial market rules by giving unauthorized and misleading pensions advice.

  • August 10, 2020

    Pensions Industry Complains To Gov't Over FCA Rule Change

    Pensions industry bodies raised concerns to the government on Monday over proposed rule changes by the Financial Conduct Authority that could see schemes having to roll back the guidance they offer on transfers.

  • August 10, 2020

    Insurers Hike Prices For Businesses Following Virus Losses

    Insurers globally have hiked premium prices for businesses by an average of 19% as a result of mounting losses from COVID-19, according to a Monday analysis by broker Marsh.

  • August 10, 2020

    Fitch Says Gov't Schemes Helping Virus-Hit Credit Insurers

    State-backed programs have helped stem pandemic-linked losses for insurers who provide trade credit cover, an insurance policy which is expected to increase in demand, according to Fitch research.

  • August 10, 2020

    Beirut Blast Could Drive Over $250M Marine Insured Loss

    Insurers could be on the hook for at least $250 million in claims purely from damage to ships and port infrastructure caused by the blast in Beirut last week, reinsurance broker Guy Carpenter said.

  • August 07, 2020

    Watchstone Sues PwC For £63M Over Leaks During Deal Talks

    Insurance and technology provider Watchstone Group PLC sued PwC for £63 million ($82 million) in damages after the accounting giant allegedly set up a secret "back channel" to leak information to law firm Slater and Gordon during negotiations for their ill-fated deal.

  • August 07, 2020

    Financier Says €10M Debt Already Paid In Insurance Suit

    The director of a Maltese financial company has argued that it already paid a €10 million ($11.7 million) settlement in cash and bonds to Net Insurance SpA, after the Italian insurer brought a €2 million suit accusing the company of failing to meet the terms of the deal.

  • August 07, 2020

    DLA Piper Adds Insurance Disputes Atty From Mayer Brown

    Law firm DLA Piper said Friday it has hired an attorney from Mayer Brown LLP to head a new specialist insurance and reinsurance disputes team in London.

  • August 07, 2020

    UK Litigation Roundup: Here's What You Missed In London

    The past week in London has seen a U.K. insurance technology company take aim at PwC after an acquisition went south, a major cruise line sue to curb travelers' insurance claims, and the U.K.'s criminal investigator file for civil recovery from a real estate company. Here, Law360 looks at those and other new claims in the U.K.

  • August 07, 2020

    Insurer Hits Back In €36.8M Suit Over Undelivered Ferries

    A Portuguese insurer has told a London court that it should not be on the hook for €36.8 million ($43.5 million) for two undelivered ferries because a cruise operator did not have the right to back out of the contract.

  • August 07, 2020

    COVID-19 Puts Focus On Intangible Assets, Says Lloyd's

    Lloyd's of London has urged businesses to be innovative in the face of a "new risk landscape" triggered by COVID-19, in which companies are faced with potential problems that could damage their reputation or put important information at risk of being compromised.

  • August 07, 2020

    UK Security Agency Instructs Business On Cyber-Insurance

    Britain's intelligence agency has published instructions setting out how businesses should use insurance brokers and products to protect them from the growing threat of virtual crime.

  • August 06, 2020

    Judge Sinks Insurer's Suit Over Ship Abandoned In Brazil

    A New York federal judge on Thursday threw out claims by German insurer Great Lakes Insurance SE that the owners of a ship carrying cargo for one of its insured companies conspired to abandon it in Brazil, saying the court doesn't have maritime jurisdiction because the alleged conspiracy did not happen at sea.

  • August 06, 2020

    FCA To Pay Mortgage Broker's Costs In Licensing Fight

    A London judge has ordered the Financial Conduct Authority to pay a mortgage broker's legal costs over its "unreasonable" decision to pull the business' trading permissions for not having insurance amid a broad mortgage fraud probe.

  • August 06, 2020

    Insurers Float Capital Rule Review To Encourage Investments

    Europe's insurers have called on lawmakers to relax the bloc's capital rules in order to free them up to invest money into long-term products under the European Union's ambitious capital markets union.

Expert Analysis

  • How Courts Are Encouraging Mediation In England And Wales

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    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.

  • Opinion

    EU Class Action Policy Guided By Wrong Measure Of Success

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    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.

  • An Attractive Regime For Governing Jurisdiction Post-Brexit

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    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.

  • Reinsurance Implications Of COVID-19 Biz Interruption Laws

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    In light of legislative and public pressure in the U.S. and U.K. on insurers to cover business interruption losses related to COVID-19, reinsurers will face new questions regarding their obligation to cover claim payments, say Robin Dusek at Saul Ewing and Susie Wakefield at Shoosmiths.

  • UK Appellate Rulings Clarify Arbitral Choice Of Law

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    Two recent U.K. Court of Appeal decisions have changed the operation of the choice-of-law test for arbitration — a resolution as significant as changing the test itself because it affects the implied choices of the contracting parties, say attorneys at Squire Patton.

  • Post-Pandemic Litigation To Expect In England And Wales

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    Globally, we are already starting to see insolvency-related claims and a number of insurance, breach of ‎contract, employment and securities class actions across numerous sectors. These and other claims will likely increase for U.K. businesses, say Tracey Dovaston and Fiona Huntriss at Boies Schiller.

  • UK Lawyers Can Adapt Due Diligence To Screen New Clients

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    As COVID-19-related fraud gains pace, U.K.-based practitioners should help combat money laundering by using alternative methods to verify that new clients are who they say they are, says Christopher Convey, a barrister at 33 Chancery Lane and chair of the Bar Council's Money Laundering Working Group.

  • A UK Business View Of COVID-19's Economic Fallout

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    Covington attorneys Alex Leitch and Harry Denlegh-Maxwell provide a bird's-eye view of how U.K. businesses will navigate the legal and economic aftermath of the pandemic, including discussion of where litigation funding, class actions, insurance disputes and force majeure fit it.

  • Remote Depositions Bring Ethics Considerations For Lawyers

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    Utilizing virtual litigation technologies and participating in remote depositions require attorneys to beware of inadvertently violating their ethical obligations, including the principal duty to provide competent representation, say attorneys at Troutman Sanders.

  • Time For Presumptive Virtual Mediation In The UK

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    While the COVID-19 outbreak is a real-time test of the U.K. justice system’s adaptability and innovation, it is also an opportunity to deliver alternative dispute resolution through virtual technology — and there are two ways in which this could be achieved, says Suzanne Rab at Serle Court.

  • UK 'Property' Classification Boosts Confidence In Bitcoin

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    In AA v. Persons Unknown, the English High Court classified bitcoins as property that can be the subject of proprietary injunctions, indicating the slow but growing acceptance of virtual currencies within the U.K., say Steven De Lara and Colin Grech at Signature Litigation.

  • 3 EU And UK Data Protection Tips During COVID-19

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    Though EU and U.K. data protection laws should not impede the fight against COVID-19, companies must continue to protect individuals' data, and the challenges of managing a remote workforce and the desire for information about the virus’s impact have significant implications for that responsibility, say attorneys at Debevoise.

  • Novolex Case Brings Lessons On R&W Insurance

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    A New York state court dispute between Novolex and a few of its insurers concerning coverage under a representations and warranties policy for a $267 million loss offers a rare glimpse into how a court might interpret acquisition agreements and insurance policy provisions, say attorneys at Hunton.

  • How Proposed EU Class Action Directive Could Affect Insurers

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    Insurers should beware the explosive potential of the EU's proposed directive providing for cross-border class actions and third-party funding for such actions, although it also bears strict requirements that will limit the number of cases, say Emmanuèle Lutfalla and Simon Fitzpatrick at Signature Litigation.

  • COVID-19 Insurance Considerations For UK Cos.

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    Though a new U.K. regulation recently made it easier for businesses to claim losses related to COVID-19, potential points of contention when seeking insurance coverage include whether the government ordered the business to close and whether an outbreak occurred at the premises, say attorneys at Covington.

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