Insurance UK

  • May 28, 2024

    Major Insurers Face £472M Claim For Russia-Stranded Planes

    An aircraft lessor has brought a £472 million ($604 million) claim against dozens of major insurers over planes stranded since the invasion of Ukraine, following a landmark London court ruling that blocked attempts to move similar cases to Russia.

  • May 28, 2024

    Labour Party Rules Out Any Additional Tax Rises

    The Labour Party on Tuesday ruled out introducing any more tax rises in addition to measures it has already announced in the event it wins the July 4 general election.

  • May 28, 2024

    Labour Derides 'Gimmick' Tory £2.4B State Pension Extension

    The U.K.'s Labour Party said Tuesday it would maintain the state pension "triple lock" if it won the forthcoming general election, but stopped short of lifting income tax thresholds for the elderly.

  • May 28, 2024

    Aviva Completes £130M Pension Deal With Telereal

     A property investment company has offloaded £130 million ($166 million) of its pension liabilities to Aviva PLC, the insurer said Tuesday.

  • May 28, 2024

    EU Investment Firms Told To Upgrade Marketing Reports

    The European Union's financial markets regulator has said that investment firms should improve their marketing disclosures to investors, calling on national watchdogs to act against rule-breakers.

  • May 28, 2024

    Pension Deals Market Working For Small Providers, Aon Says

    The deal market for small pension schemes looking to offload their liabilities to insurers is working despite fears that such plans are being crowded out of the market, Aon said Tuesday.

  • May 24, 2024

    The UK Laws That Will Pass Or Fail As Election Looms

    Prime Minister Rishi Sunak's decision to call an early general election to be held on July 4 has left several pieces of legislation hanging in the balance during the so-called "wash-up" period before Parliament is formally dissolved, while others have been pushed through. 

  • May 24, 2024

    Labour Gov't Could Force Big Tech Into Fraud Repayments

    A potential new Labour government means a turning point in tackling financial fraud if it should force big tech companies like Meta and Google to join banks in having to reimburse customers duped into sending fraudsters money, according to lawyers.

  • May 24, 2024

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

    This past week in London has seen an IT engineer seek permission to search a landfill hiding a hard drive supposedly storing millions of pounds in bitcoin, Glencore take on legal action by American Century Investments, gold payment app Glint bring a breach of duty claim against FRP Advisory, and an ongoing dispute between a solicitor and the Solicitors Regulation Authority. Here, Law360 looks at these and other new claims in the U.K.

  • May 24, 2024

    FCA Allows GAP Insurance Sales To Resume

    The Financial Conduct Authority said Friday it has allowed several insurers to resume the sale of guaranteed asset protection insurance, months after putting a restriction on sales to rectify problems with the design of the product.

  • May 24, 2024

    Snap July 4 Election Leaves Pension Reform In Disarray

    The government's decision to call a snap general election for July 4 has left the U.K.'s pension sector in limbo, experts say, with uncertainty over whether the next administration will continue with an ambitious reform program.

  • May 24, 2024

    Law Firm Partner Says Sorry For Expert Witness Interference

    A Penningtons Manches Cooper LLP partner has apologized to a London court for overstepping in his interference with an expert witness' statement amid his client's feud with AXA XL.

  • May 24, 2024

    Generali Italia Denies Owing £1M To Exec With Eye Disease

    Italy's largest insurance company has denied that it owes more than £1 million ($1.2 million) in incapacity benefits and damages to a Quest Software sales director suffering from a degenerative eye disease after rejecting his claim.

  • May 24, 2024

    FCA Bans Two Advisers Accused Of Misleading Clients

    The Financial Conduct Authority has banned two advisers from working in financial services for "recklessly" exposing pension holders to high-risk investments, the regulator said Friday.

  • May 24, 2024

    Travelers Insurance Sued Over Fire-Damaged Warehouse

    A U.K.-based building operator is suing its insurer for breach of contract for refusing to pay out on its multimillion-pound policy after fires destroyed its Scottish warehouse because the company allegedly fell short of security requirements and other policy provisions.

  • May 24, 2024

    No Easy Fix For Pensions Marketing Rules, Minister Warns

    The government has said that there is no straightforward way to fix a quirk of privacy rules that discourages pension providers from sending emails to retirement savers.

  • May 24, 2024

    Ex-Aviva Staffer's Tribunal Outbursts Not A Bar To Fair Trial

    Aviva must face a former employee's discrimination claim even though her actions during hearings — including accusations of institutional racism in employment cases — is likely to prevent the trial being fair, a tribunal has ruled.

  • May 23, 2024

    Insurer Warns Of Surge In 'Crash For Cash' Fraud

    Insurer Allianz UK has urged motorists to watch out for dangerous scams, as it warned of a 6,250% rise in 2023 of "crashes" involving motorbikes and scooters.

  • May 23, 2024

    Legal Alliance Warns Of Growing FCA Burden On Insurers

    British regulators are pressuring the insurance industry in the name of consumer protection, but at the expense of business growth and security, a report by an alliance of global insurance-focused law firms said Thursday.

  • May 23, 2024

    Trader Denies Using 'Magic Money Tree' At £1.4B Fraud Trial

    Sanjay Shah, a former hedge fund owner who is accused of defrauding Denmark's tax authority out of £1.4 billion ($1.8 billion), denied using a "magic money tree" in his trading at a London court Thursday.

  • May 23, 2024

    Pension Plans Must Get Handle On Data Quality, TPR Says

    Retirement savings plans in the U.K. face increased regulatory scrutiny to ensure that Britain has the best possible standards on safeguarding the personal data of clients, the pensions watchdog has said.

  • May 23, 2024

    Tech Resilience Regime Ambiguous, European Banks Say

    A trade body representing banks in Europe warned on Thursday that new regulations requiring finance firms to prevent risks arising from cyberattack or systems failure are ambiguous and could create differing approaches to compliance.

  • May 23, 2024

    FCA Fines HSBC £6.2M For Mistreating Customers In Arrears

    The Financial Conduct Authority said Thursday that it has fined HSBC £6.2 million ($7.9 million) for inadequate treatment of customers in financial difficulty. 

  • May 30, 2024

    White & Case Hires 2 Latham Partners In Germany

    White & Case LLP has added two partners from Latham & Watkins LLP with more than three decades worth of experience between them in capital markets to its Frankfurt office.

  • May 22, 2024

    Insurers Lose Appeal Over $15M Hanjin Shipping Settlement

    Insurers should not be entitled to recover a portion of recoveries for uninsured losses, a London appeals court ruled Wednesday, in a dispute over a $15 million settlement following the collapse of Hanjin Shipping.

Expert Analysis

  • What Slovak Labor Code Changes Will Mean For Employers

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    With newly effective amendments to the Slovak Labor Code strengthening employees’ rights in a number of ways, the default mindset of the employee being the weaker party may no longer be the right approach, says Katarina Pfeffer at Bird & Bird.

  • An ICO Reminder On Managing Subject Access Requests

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    Although the U.K. Information Commissioner's Office’s recent seven reprimands regarding mismanagement of data subject access requests are unusual, it is worth organizations considering what resources and training may be available to ensure these are properly managed in the future, says Ross McKenzie at Addleshaw Goddard.

  • Opinion

    Increasing Law Firm Polarization Will Degrade Rule Of Law

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    As evidenced in recent instances of law firms separating from attorneys who represented certain industries or espoused certain views, firms and the legal practice itself have grown troublingly polarized and intolerant of dissent, says Rebecca Roiphe at New York Law School.

  • The FTX Fallout So Far And What May Come Next

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    While the downfall of FTX is likely to cause substantial losses and lead to extensive litigation, it will hopefully precipitate a renewed focus on regulating the crypto market in a responsible way that gives more protection to consumers, says Dan Wyatt at RPC.

  • Hard Insurance Market Will Influence Legal Industry, Economy

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    As the cost of claims starts to outstrip the value of premiums, insurers are denying more claims and considering scaling back coverage, leading to an influx of legal work and potential holes in the market, says Bruce Hepburn at Mactavish.

  • Digital Nomads: Key Considerations For Global Businesses

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    As employers and employees embrace remote, location-independent work arrangements enabled by technology, they must be mindful of the employment law and tax consequences such arrangements may trigger, say Hannah Wilkins and Audrey Elliott at Eversheds Sutherland.

  • New License Eases Sanctioned Clients' Legal Fee Payments

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    The general license recently issued by the U.K. Office of Financial Sanctions Implementation permitting the payment of legal fees owed by a sanctioned company or individual will potentially reduce the agency's backlog and is welcome news for both lawyers and OFSI staff, say Zulfi Meerza and Syed Rahman at Rahman Ravelli.

  • Preparation Is Key To Businesses Minimizing Cyber Breaches

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    A recently published report by the U.K. Department for Digital, Culture, Media and Sport on organizational experiences of cybersecurity breaches highlights the importance of having breach response policies in place and being able to demonstrate that reasonable preventive and risk management steps were taken, says Lawson Caisley at White & Case.

  • UK Policyholders Can Expect Better COVID Claims Handling

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    The U.K. Financial Conduct Authority recently outlined some best practices for COVID-19 business interruption claims handling, which, along with recent High Court of Justice decisions, will likely lead to faster claims handling and clearer insurer communication, say Gurpreet Sanghera and Charlie Edwards at Simkins.

  • A Recovery Option For Lenders With Planes Stuck In Russia

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    For aircraft lessors considering insurance coverage litigation to recover for losses of equipment leased to Russian airlines, negotiating an assignment of rights may provide a faster pathway to recovery, say David Klein and Jose Lua-Valencia at Pillsbury.

  • Series

    My Favorite Law Prof: How I Learned To Argue Open-Mindedly

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    Queens College President Frank Wu reflects on how Yale Kamisar’s teaching and guidance at the University of Michigan Law School emphasized a capacity to engage with alternative worldviews and the importance of the ability to argue for both sides of a debate.

  • 4 Key Skills For An Effective Attorney Coaching Conversation

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    As BigLaw firms are increasingly offering internal coaching as one of many talent strategies to stem ongoing lawyer attrition, Stacey Schwartz at Katten discusses how coaches can help attorneys achieve their goals.

  • New Clarity On Directors' Creditor Duty In Insolvency Context

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    The recent case of BTI 2014 v. Sequana, the first to consider the creditor duty at U.K. Supreme Court level, provides directors and insolvency practitioners with significant guidance on how close to insolvency the company needs to be for the creditor duty to be engaged, say attorneys at Shearman.

  • FCA Pension Scheme Case Highlights Issues Ripe For Reform

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    The Financial Conduct Authority's response to the British Steel Pension Scheme case exposed wider issues within its regulatory approach and could demonstrate the need for industrywide reforms to minimize the risks with transferring out of a pension scheme, say Oliver Reece and Larisa Gordan at PwC.

  • What An Organization Can Do To Protect Its Supply Chains

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    In light of recent world events, supply chain issues have never been more critical for business, and to protect the commercial viability of their contracts, organizations should address performance concerns in good time, with a workable strategy in place should the chain break down, says Laura Heeley at Eversheds Sutherland.

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