Insurance UK

  • June 24, 2024

    Retired Judges Lose Appeal In Pension Row With MoJ

    An appeals tribunal ruled Monday that the Ministry of Justice did not discriminate against three judges when it switched their pension schemes, ruling that their new judicial posts — rather than their part-time worker status — caused the change.

  • June 24, 2024

    Charity Urges Better Ways To Fight Investment Greenwashing

    A legal environmental charity on Monday called for stronger measures to address the practice of misrepresenting financial products as environmentally friendly when they do not meet the necessary sustainability criteria.

  • June 24, 2024

    Burges Salmon Steers £25M Pension Deal For Travel Co.

    Legal & General will take on £25 million ($31.7 million) worth of pension liabilities from a scheme sponsored by travel company TUI in a deal steered by Burges Salmon LLP, advisers on the transaction said Monday.

  • June 24, 2024

    Prudential Launches First Tranche Of $2B Buyback Program

    Insurer and asset manager Prudential PLC has commenced an initial $700 million share buyback program, the first phase of a wider up to $2 billion repurchase scheme, advised by Slaughter and May.

  • June 24, 2024

    FCA Takes Action Against 3 Fund Mngrs On Risky Investments

    The financial watchdog said Monday that it has decided to ban and fine three individuals who ran fund manager SVS Securities PLC after it invested clients' pension money into high-risk bonds that have defaulted, threatening their retirement security.

  • June 24, 2024

    Insurer Files For Liquidation, To Sell Unit To Rival For £11.3M

    Troubled insurer R&Q said Monday that it has agreed to sell Inceptum Insurance for £11.25 million ($14.25 million) to Marco Capital Holdings Ltd., a Malta-based legacy acquisition group, after filing for liquidation.

  • June 21, 2024

    Insurer Targets Ex-Employee Over $47M Plant Financing Claim

    British insurance company Beazley has targeted a former employee in Florida federal court, accusing the former underwriter of exposing it to a $47 million arbitration claim in Brazil after he improperly inked a deal with a reinsurer as part of an ill-fated financing pact for a thermoelectric plant.

  • June 21, 2024

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

    This past week in London has seen JD Wetherspoon sue a Welsh pub over its name in the Intellectual Property Court, ex-professional boxer Amir Khan and his wife file libel action against an influencer, the Performing Right Society hit with a competition claim over music licensing, and Manolete Partners bring action against the directors of a bust investment firm. Here, Law360 looks at these and other new claims in the U.K.

  • June 21, 2024

    Travelers Denies Liability Over Arson Risk In Fire-Loss Row

    Travelers Insurance Company Ltd. has denied it is liable for losses claimed by a building operator after fires destroyed its warehouse in Scotland because the company failed to disclose the property had previously suffered an arson attack.

  • June 21, 2024

    Lloyd's Delays Next Phase Of Modernization Plan

    Lloyd's of London said Friday it has pushed back the launch of its next modernization program, saying that delays to testing have meant it is no longer safe to go live as planned in October. 

  • June 21, 2024

    European Funds Want Laxer Rules On Derivatives Calls

    A European investment fund industry trade body has called for a reduction in proposed global rules to manage calls for extra money supporting derivatives positions intended to reduce the risk of a market crisis.

  • June 21, 2024

    Next UK Gov't Urged To Ease Private Healthcare Insurance Tax

    Whoever wins the U.K. election on July 4 should introduce tax breaks on private medical insurance to relieve pressure on the National Health Service, a consultancy warned Friday.

  • June 20, 2024

    Pensioners Still Taxed With 'Triple Lock Plus,' LCP Says

    The ruling Conservative Party's pledge to add a tax break to the anti-inflation "triple lock" on pensions would still mean that 2.5 million U.K. pensioners will be taxed, consultancy Lane Clark & Peacock LLP said Thursday.

  • June 20, 2024

    WTW Says Professional Trustee Appointments Up 11%

    Professional trustee appointments have surged by 11% over the past year, with corporate sole trustee appointments rising at 14%, according to WTW's 2024 professional trustee survey published Thursday.

  • June 20, 2024

    Aegon Plans ESG Shakeup Of £12B Workplace Pension Fund

    Pensions provider Aegon on Thursday announced a raft of measures to overhaul its £12 billion ($15.2 billion) workplace retirement fund, as it plots to reduce its carbon emissions and invest more in unlisted assets.

  • June 20, 2024

    Financial Watchdog Launches First-Ever ESG Probe Into Biz

    The Financial Conduct Authority has opened its first-ever enforcement investigation into a company over climate-related issues, lawyers from an environmental legal campaign group said on Thursday.

  • June 20, 2024

    Law Firm Disputes Pension Deal Capacity Concerns

    Most small retirement savings plans have little trouble carrying out an insurance transaction, a law firm has found, despite fears of a capacity crunch in the pensions deals market.

  • June 19, 2024

    Trade Body Sets Up Committee For M&A Insurance Market

    A trade body for underwriters said Wednesday that it has launched a committee on specialist insurance to cover risk associated with mergers and acquisitions, amid a surge in such policies being written from London.

  • June 19, 2024

    EU Gov'ts Agree Position On Simpler Data-Sharing Rules

    European Union governments agreed where they stand on new rules on Wednesday to help most financial regulators in the bloc to share data, with more efficient reporting by watchdogs and companies.

  • June 19, 2024

    Plane Not 'Lost' In $15M Stranded Jet Row, Chubb Says

    Chubb European Group SE has said it is not liable for $14.7 million claimed by the Irish wing of a U.S. aircraft leasing company to cover the claimed loss of a plane stranded in Russia because the insurer says it is not actually lost.

  • June 19, 2024

    Fieldfisher Steers £165M Mineral Biz Pension Deal

    Insurance giant Aviva said on Wednesday that it has completed a full retirement savings plan buy-in worth £165 million ($210 million) sponsored by mineral miner and processor Sibelco UK Ltd., in a deal guided by Fieldfisher LLP.

  • June 19, 2024

    Zurich Buys 70% Stake In Indian Insurer For $670M

    Swiss insurance giant Zurich said Wednesday that it has bought a 70% stake in Kotak Mahindra General Insurance for $488 million, the largest foreign investment in India's general insurance market since 2021.

  • June 18, 2024

    Insurers Appeal COVID ExCeL Biz Insurance Test Case Ruling

    Insurers launched an appeal on Tuesday to overturn a landmark test case ruling that would provide cover for COVID-19 lockdowns for thousands of companies with "at-the-premises" business interruption wording in their policies.

  • June 18, 2024

    Insurers Deny Stranded Planes Are 'Lost' In $45M Claim

    A range of insurers have said they are not liable for $44.9 million claimed by an Irish aircraft operating company to cover the loss of planes stranded in Russia because they argue the airline business has not suffered any loss.

  • June 18, 2024

    Lifeboat Scheme Names PwC As Partner For Claims Service

    The Financial Services Compensation Scheme said Tuesday it has awarded its core claims service contract to Big Four accounting firm PwC as the scheme expands its in-house team.

Expert Analysis

  • Knowledge Management: An Unsung Hero Of Legal Innovation

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    As technology evolves, law firms are increasingly looking for ways to improve communication, transparency and service for their clients. Firms should put knowledge management at the core of their value proposition to create a competitive advantage, says Rob MacAdam at HighQ.

  • Uncertainty Concerning The UK's Proper Purpose Rule?

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    The U.K. Supreme Court's judgment in Eclairs v. JKX seemingly opened the door for a broad interpretation of the proper purpose rule, but despite the confusion, the rule will continue to operate as a useful legal safeguard for shareholders, say Nick Hoffman and Conal Keane of Harney Westwood & Riegels LLP.

  • How Europe's AML Regime Is Tackling Virtual Currencies

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    The use and provision of virtual currency services have remained largely unregulated in the European Union, but its newest anti-money laundering directive could be the first step to tougher regulation, say Chris Warren-Smith and Paul Mesquitta of Morgan Lewis & Bockius LLP.

  • UK Ruling Signifies Greater Cross-Border Sharing Of Data

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    In KBR v. SFO, the U.K. High Court confirmed that the Serious Fraud Office can require foreign companies to produce documents held outside the U.K. as long as there is a sufficient connection between the company and the jurisdiction. This judgment will embolden other agencies with similar compulsory document production powers, says Andrew Smith of Corker Binning.

  • Why Law Firms Should Monitor The Dark Web

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    Dark web monitoring allows law firms to see what sensitive information may have made its way onto the thriving global underground marketplace where cybercriminals buy and sell exposed data. It can also help lawyers advise clients on a wide range of legal and business matters, say Anju Chopra and Brian Lapidus of Kroll.

  • Lessons From UK's Data Backlash

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    Tesco Bank and British Airways are the latest British icons to find themselves in legal difficulties regarding data breaches, exemplifying the breadth of breach-related risks beyond the established route of the Information Commissioner's Office, says Kim Roberts of King & Spalding LLP.

  • Tech, Media, Telecom Investor-State Arbitration Is On The Rise

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    Disputes between foreign investors from the technology, media and telecommunications sector and host states are a substantial feature of the investor-state claims landscape. The recent growth of investor-state arbitrations in this sector could be explained by several factors, says Florencia Villaggi of Herbert Smith Freehills LLP.

  • Treat GDPR Compliance As A Marriage, Not A Wedding

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    Earlier this year, many businesses were so focused on ensuring that their privacy notices and customer lists were compliant by May 25 that they forgot that General Data Protection Regulation D-Day was just the first day of a new regime, rather than a one-day event, say Ben Pilbrow and Joanna Boag-Thomson of Shepherd and Wedderburn LLP.

  • New UK And US Regimes May Deter Foreign Investment

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    Newly proposed U.K. rules and the amended regime for the Committee on Foreign Investment in the United States will radically change how the two governments review sensitive transactions, which will affect the likelihood of deal clearance, deal timing and the drafting of appropriate contractual provisions, say Robert Bell and Jennifer Mammen of Bryan Cave Leighton Paisner LLP.

  • UK Employees May Soon Gain The 'Right To Disconnect'

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    Several European countries have recently incorporated the "right to disconnect" from work into their domestic legislation. Currently, there is no equivalent law in the U.K., but as stress levels continue to rise, it is likely that U.K. legislators will follow suit, says Sarah King of Excello Law.

  • Q&A

    A Chat With Faegre Client Development Chief Melanie Green

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    In this monthly series, Amanda Brady of Major Lindsey & Africa interviews management from top law firms about the increasingly competitive business environment. Here we feature Melanie Green, chief client development officer at Faegre Baker Daniels LLP.

  • UK's Proposed Investment Scrutiny Powers Are Far-Reaching

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    The recently issued National Security and Investment White Paper proposes a significant expansion in the U.K. government's powers to scrutinize foreign investments. If the proposals are brought into force, the U.K. regime will be one of the most stringent in the world, say Douglas Lahnborg and Matthew Rose of Orrick Herrington & Sutcliffe LLP.

  • Relief For Cos. Conducting UK Internal Investigations

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    After almost a year and a half of uncertainty, the U.K. Court of Appeal has restored the eminently sensible position that documents created in an internal investigation are capable of being covered by litigation privilege when a criminal investigation or prosecution is in prospect, say Simon Airey and Joshua Domb of Paul Hastings LLP.

  • Breaking Down The UK's Revised Corporate Governance Code

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    Recent changes to the U.K. Corporate Governance Code should reassure investors that companies with a premium listing on the London Stock Exchange are committed to being standard-bearers. Issuers may also benefit from the workforce engagement, corporate culture and diversity changes that will be brought into businesses, say Joseph Ferraro and Jennifer Tait of Willkie Farr & Gallagher LLP.

  • Q&A

    Back To School: Widener's Rod Smolla Talks Free Speech

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    In this new series featuring law school luminaries, Widener University Delaware Law School dean Rodney Smolla discusses teaching philosophies, his interest in First Amendment law, and arguing before the U.S. Supreme Court in Virginia v. Black.

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