Insurance UK

  • September 25, 2024

    Smaller UK Pension Deals Behind Record Numbers In 2024

    Smaller pension deals worth less than £100 million ($133.7 million) drove the "staggering" number of retirement savings de-risking transactions penned in the first half of the year, Lane Clark & Peacock LLP said Wednesday.

  • September 25, 2024

    Gov't Warned Over Risk Of 'Too Big To Fail' Pension Funds

    A government push toward the consolidation of retirement savings plans could create new megafunds that are anticompetitive and become "too big to fail," experts warned on Wednesday.

  • September 25, 2024

    Fraudulent UK Insurance Claims Topped £1B In 2023

    The trade body for British insurers reported Wednesday that fraudulent insurance claims in the U.K. exceeded £1.1 billion ($1.4 billion) in 2023, reflecting a 4% rise compared to the previous year.

  • September 25, 2024

    Insurers Forecast To Take €2.1B Hit From European Floods

    Flooding that hit central and Eastern Europe this September could cost insurers up to €2.1 billion ($2.4 billion), according to recent estimates by a subsidiary of one of the world's largest insurance brokers.

  • September 25, 2024

    Property Investment Trust Buys £78M UK Logistics Portfolio

    Real estate investment trust LondonMetric Property PLC said on Wednesday that it has bought six warehouses for £78 million ($104 million) from a pension fund listed on the London Stock Exchange.

  • September 24, 2024

    UK Gov't Brings Forward New Laws To Fight Welfare Fraud

    The British government said Tuesday it is getting ready to introduce a new bill in this parliamentary session to tackle social security fraud that could save taxpayers £1.6 billion ($2.1 billion) over the next five years.

  • September 24, 2024

    PRA Sets Date For Final Package Of Solvency II Rules

    The Bank of England said it would publish the final set of rules for its solvency reform of the insurance sector by mid-November.

  • September 24, 2024

    Most UK Financial Firms Are Risk-Averse About New Tech

    Financial services companies in the U.K. have delayed the adoption of new technology, such as artificial intelligence and machine learning, because they have concerns over risks, a survey by a professional services provider suggested on Tuesday.

  • September 24, 2024

    Pension Trustees Urged To Look At Insurers' Carbon Targets

    Trustees of retirement savings plans should look at how well insurers perform against their interim carbon-reduction targets when they choose a partner for a bulk annuities transaction, a consultancy has said.

  • September 24, 2024

    Nasdaq, Deutsche Boerse Targeted In EU Antitrust Raids

    Nasdaq and Deutsche Boerse said Tuesday that they are among the financial services firms being investigated by the European Commission over alleged violations of EU competition laws in derivatives trading.

  • September 24, 2024

    Half Of Local Gov't Pension Plans Have No Net-Zero Target

    Half of the local government pension schemes in Britain have yet to set a net-zero emissions target, according to a report published Tuesday, which reveals that just 49% of local authority retirement funds have committed to a strategy.

  • September 23, 2024

    FCA Chair Cleared Over Whistleblower Complaints Handling

    Britain's finance watchdog said Monday that its chair had been cleared of wrongdoing over his handling of two whistleblower complaints but that it will strengthen protection for people who sound the alarm after it reviewed its internal policy.

  • September 23, 2024

    FCA Faults City Bodies' AML Policing As Inconsistent

    The Financial Conduct Authority on Monday raised concerns over the inconsistent enforcement of anti-money laundering regulations by City professional bodies, particularly in the legal and accountancy sectors.

  • September 23, 2024

    UK Insurers' Tax Contribution Hits Record High £18.5B

    Members of the Association of British Insurers contributed a record £18.5 billion ($24.6 billion) in tax to the U.K. economy last financial year, the trade body said Monday.

  • September 23, 2024

    Pension Experts Urge Tax Breaks For UK Investment Plan

    The government could best encourage investment in the economy from pension schemes by adopting tax incentives, a trade body said.

  • September 23, 2024

    UK Watchdog Thins Out Pension Plan Reporting Rules

    The Pensions Regulator said Monday it has scaled back the amount of data that retirement schemes are expected to submit under new funding regulations, which went live this weekend.

  • September 23, 2024

    Finance Sector Seeks Regulatory Clarity As Challenges Loom

    The financial services sector is pushing for clearer regulations on artificial intelligence and environmental, social and governance criteria, according to research by global law firm DLA Piper.

  • September 20, 2024

    BNP Paribas Plugging $5B Into Apollo-Backed Atlas

    Private equity giant Apollo and its Atlas SP Partners platform, both advised by Paul Weiss Rifkind Wharton & Garrison LLP, on Friday unveiled a strategic partnership with European Union bank BNP Paribas, led by Cadwalader Wickersham & Taft LLP, that will see the global bank plugging an initial $5 billion investment into the collaboration.

  • September 20, 2024

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

    The past week in London has seen crypto exchange Binance face a new claim from the co-founder of SO Legal, a U.S. immersive art company take on a Bristol venue for copyright violations and Blake Morgan LLP hit with a pension schemes claim by The Trust for Welsh Archeology. Here, Law360 looks at these and other new claims in the U.K.

  • September 20, 2024

    Replace NHS With Health Insurance Model, Think Tank Says

    Britain's National Health Service should be replaced by a social insurance model to bring health outcomes to comparable levels in Europe, a free-market think tank has argued, amid concerns the cash-strapped system is no longer viable.

  • September 20, 2024

    Insurance Brokers Say Big Cos. Don't Need Consumer Rules

    The Financial Conduct Authority should exclude bigger businesses from the scope of consumer protection regulations, in order to boost the competitiveness of the U.K. insurance sector, a trade body said.

  • September 20, 2024

    Insurers Deny Liability For $911M Stranded Aircraft Claims

    Two insurers have argued they are not liable for claims totaling $911 million over aircraft stranded in Russia as part of a wave of claims worth £13 billion ($17.3 billion) that have flooded courts following the invasion of Ukraine.

  • September 20, 2024

    DLA Piper Boosts Corporate, Insurance Teams With 2 Partners

    DLA Piper has strengthened its European corporate and insurance practices with the recruitment of two experienced partners to its offices in Spain and Italy.

  • September 20, 2024

    Audit Watchdog Revises Actuarial Standard For Insurers

    Britain's accounting watchdog on Friday published a revised version of the rules for actuarial work in the insurance sector that it said reflected recent regulatory changes around delivering good outcomes for consumers.

  • September 20, 2024

    Pension Savings Plans Warned Over 'Deflation Spiral' Risk

    Pension schemes should make contingency plans now for falling inflation, a consultancy has said, as it warned that failure to prepare could result in a destabilizing rush to sell off U.K. government bonds.

Expert Analysis

  • Preparing For EU's Pay Gap Reporting Directive

    Author Photo

    An agreement has been reached on the European Union Pay Transparency Directive, paving the way for gender pay gap reporting to become compulsory for many employers across Europe, introducing a more proactive approach than the similar U.K. regime and leading the way on new global standards for equal pay, say attorneys at Lewis Silkin.

  • Has The Liberalization Of Legal Services Achieved Its Aims?

    Author Photo

    Although there is still some way to go, alternative business structures are now an increasingly prominent feature of the legal services landscape, and clients can expect greater choice, improved quality and more manageable costs, as was intended by this shake-up of the profession's regulatory frameworks 15 years ago, says Dana Denis-Smith at Obelisk Support.

  • 5 Gen X Characteristics That Can Boost Legal Leadership

    Author Photo

    As Generation X attorneys rise to fill top roles in law firms and corporations left by retiring baby boomers, they should embrace generational characteristics that will allow them to become better legal leaders, says Meredith Kahan at Whiteford Taylor.

  • ECJ Beneficial Owners Ruling Leaves Uncertainty In Its Wake

    Author Photo

    The European Court of Justice's recent ruling in the WM and Sovim cases, holding that making information on a register of beneficial owners publicly available interferes with the Charter of Fundamental Rights of the EU, has been criticized as a step backward in the fight against money laundering and financing of terrorism, and its impact is not yet clear, say Michael Marschall and Verena Krikler at Schoenherr.

  • What Slovak Labor Code Changes Will Mean For Employers

    Author Photo

    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

    Author Photo

    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

    Author Photo

    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

    Author Photo

    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

    Author Photo

    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

    Author Photo

    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

    Author Photo

    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

    Author Photo

    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

    Author Photo

    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

    Author Photo

    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

    Author Photo

    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.

Want to publish in Law360?


Submit an idea

Have a news tip?


Contact us here
Can't find the article you're looking for? Click here to search the Insurance UK archive.
Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!