Insurance UK

  • January 30, 2025

    Growth Stocks Need Rule Changes, City Group Says

    The government and regulators need to rewrite the rulebook for growth stocks in share trading, including an urgent review of "hampering" regulations like the Consumer Duty and "Dear CEO" letters, a leading City trade body said Thursday.

  • January 30, 2025

    UK Gov't Vows To Overhaul Pension Lifeboat Levy

    The government said Thursday that it is considering allowing the Pension Protection Fund more flexibility over how it sets its levy, as it looks at further measures to boost economic growth.

  • January 30, 2025

    SMEs Urged To Insure Against The Risk Of Cyberattacks

    There is a "severe" cyber-protection gap among small and midsized business in the U.K., a trade body for the insurance sector has warned as it urged companies to reassess whether they are too small to fall victim to an attack.

  • January 30, 2025

    City Struggles With Compliance Amid Post-Brexit Rule Shifts

    Brexit paved the way for Britain to rip up the EU's financial services rule book and create a more U.K.-friendly regime — but some regulatory analysts say the process is taking too long, which imposes a bigger compliance burden on companies.

  • January 29, 2025

    Pension Plans To Start Entering Data Into Portals In April

    The first retirement savings plans will start to input customer data to the government's pension dashboards project in April, a top civil servant said Wednesday.

  • January 29, 2025

    CMS Steers £1.4B Pension Deal For Pharma Co.

    Legal & General said Tuesday that it has covered £1.4 billion ($1.7 billion) of pension liabilities for U.K. pharmaceutical company Aventis Pharma Ltd. to secure the benefits of all members of the retirement savings plan.

  • January 29, 2025

    Aercap Says Sanctions Don't 'Excuse' Insurers For Lost Jets

    Aircraft lessor Aercap told the High Court on Wednesday that insurers should have to cover losses over planes stranded in Russia because of Western sanctions imposed after the invasion of Ukraine.

  • January 29, 2025

    Pensions Watchdog Backs Gov't Surplus Investment Plans

    Britian's retirement savings watchdog has given its backing to proposals recently floated by the government that would relax rules to allow pension funds to invest billions of pounds tied up in surpluses.

  • January 29, 2025

    UK Watchdog To Help Small Businesses Obtain Audits

    The Financial Reporting Council said Wednesday it has launched a year-long campaign to help small businesses get audit services to help them raise capital.

  • January 29, 2025

    'Huge Disparity' In Pension Savings Between Men And Women

    Recent figures revealing that adult men have almost twice as much median pension wealth as women demonstrate the "huge disparity" among retirees and highlights the need for more targeted support to bridge the gap, a financial services consultancy said Wednesday.

  • January 28, 2025

    AerCap Says Insurers Are On The Hook For Stranded Planes

    There is "no merit whatsoever" to arguments by aviation insurers seeking to escape liability for the loss of aircraft seized by Russian airlines, a lawyer for major lessor AerCap said in closing submissions Tuesday at a High Court trial with billions of dollars at stake.

  • January 28, 2025

    Gov't Floats Pension Reforms To Reinvest Surplus Funds

    The U.K. government on Tuesday mapped out plans to relax pension fund rules to allow schemes to invest billions of pounds tied up in retirement plan surpluses in their own business or wider economy.

  • January 28, 2025

    HDI Reaches Settlement On Planes Stranded In Russia

    Insurance company HDI Global Specialist SE has settled its fight with a dozen aircraft companies over payouts for planes stranded after Russia's invasion of Ukraine, ending one of many disputes in sprawling litigation worth billions of pounds. 

  • January 28, 2025

    Insurers Challenged Over Furlough Cuts On COVID Claims

    Hospitality businesses forced to close during the COVID-19 pandemic launched an appeal on Tuesday over whether insurers were right to attempt to deduct the £6.5 million ($8.1 million) they received in state support from claims payouts.

  • January 28, 2025

    NFU Mutual Denies Liability In £10M COVID-19 Loss Row

    The National Farmers Union Mutual Insurance Society has argued that it does not owe a group of hospitality and farming businesses approximately £10.5 million ($13 million) for alleged losses after COVID-19 took hold in Britain because their policies did not cover the pandemic.

  • January 28, 2025

    Hotel Group Settles With Aviva Over £6.2M Blaze Payout

    Britannia Hotels has settled its £6.2 million ($7.7 million) damages claim against Aviva which alleged that the insurer did not pay out money owed for damage caused by a fire, a London court has confirmed.

  • January 27, 2025

    Royal London Hits Back In £27M Company Sale Row

    Mutual insurance and investment firm Royal London has denied that it breached any warranties during the sale of a company to M&G and that it does not owe at least £27 million ($33.7 million) claimed by the asset manager.

  • January 27, 2025

    Trader Faces US Extradition Over $10M Securities Fraud

    A trader wanted for running a "pump and dump" scheme that generated more than $10 million in unlawful stock sales will face extradition to the U.S. at a London court hearing in June, it was confirmed on Monday.

  • January 27, 2025

    UK Pension Deals Market Set To Hit £70B In 2025, WTW says

    The pension deal market in the U.K. is likely to hit £70 billion ($88 billion) in 2025, broker WTW said Monday, as funding levels continue to improve, and more insurance companies enter the market.

  • January 27, 2025

    FCA Warns Wholesale Brokers Of Money Laundering Risk

    The City watchdog has urged wholesale brokers to work harder to manage risks associated with money laundering because they might be used to execute trades that facilitate financial crime.

  • January 24, 2025

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

    This past week in London has seen Axa Insurance and Admiral face a claim from a former lawyer recently exposed for personal injury fraud, the owner of Reading Football Club sue a prospective buyer and mobile network Lycamobile tackle action by Spanish network Yogio. Here, Law360 looks at these and other new claims in the U.K.

  • January 24, 2025

    Ex-AXA Staffer Can Retry 10-Year-Old Bias Claim

    An appellate judge has ruled that the employment tribunal must take a second look at a former AXA unit employee's disability discrimination claim after the lower tribunal found a nine-year delay made a fair hearing impossible.

  • January 24, 2025

    Eversheds Guides £53M Pension Deal For Building Co.

    Buildings insulations maker Rockwool secured its pension scheme through a £53 million ($66 million) full scheme buy-in transaction with Royal London Group guided by Eversheds Sutherland, an insurance broker said Friday.

  • January 24, 2025

    EU Parliament Can't Get €800K Flooding Insurance Payout

    The Parliament of the European Union has failed to force its insurers to cough up almost €800,000 ($841,000) to cover for its flooded administrative office, after the bloc's highest court rejected its appeal over whether the damage fell under a flood exclusion in its policy.

  • January 24, 2025

    Broker SRG Expands Into Europe With German Partner

    Insurance broker Specialist Risk Group said Friday that it has reached a new long-term partnership deal with Ecclesia Group that will allow it to expand in mainland Europe, and take on the German company as one of its shareholders.

Expert Analysis

  • 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.

  • UK Group Data Breach Claims Pose Big Financial Risks

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    Recent English court decisions appear to make it easier for data breach victims to bring collective actions, and consequently companies may find they are liable for huge sums in addition to fines under the General Data Protection Regulation, say attorneys at Morrison & Foerster.

  • A Crucial Chance For UK Supreme Court To Clarify Arbitrator Bias

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    In Halliburton v. Chubb, the U.K. Supreme Court has an opportunity to tackle uncomfortable questions and support confidence in London's arbitration sector by policing effectively against bias and impartiality when arbitrators are involved in multiple tribunals, says Rosie Wild at Cooke Young.

  • Rebuttal

    Legal Industry Should Pursue AI Prediction Progress

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    As part of the debate prompted by my recent Law360 guest article on legal prediction using artificial intelligence, I would like to unpack four issues and suggest that attorneys and technologists continue to tackle the problems presently within reach, says Joseph Avery at Claudius Legal Intelligence.

  • Rebuttal

    AI Can't Accurately Predict Case Length And Cost — Yet

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    A recent Law360 guest article argued that artificial intelligence can precisely estimate the length and cost of a new case, but several limitations will likely delay truly accurate predictions for years to come, says Andrew Russell at Shaw Keller.

  • What To Expect During The Brexit Transition Period

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    While all formal ratification procedures for the U.K.'s departure from the European Union have been completed, the transitional period will bring an enormous range of trade, customs and regulatory issues, say attorneys at Mayer Brown.

  • Opinion

    Legal Prediction Is Demanding But Not Impossible

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    The New Jersey Supreme Court’s recent decision in Balducci v. Cige incorrectly concluded that predicting the length and cost of a case is nearly impossible, and overlooked artificial intelligence's ability to do so, says Joseph Avery with Claudius Legal Intelligence.

  • Surefire Marketing Methods To Build Your Legal Practice

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    Attorneys who take the time and the risk to showcase their talents through speaking, writing and teaching will find that opportunities will begin building upon themselves, says Daniel Karon of Karon LLC.

  • Mandatory Mediation May Lie Ahead For England And Wales

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    The U.K. Court of Appeals' decision in Lomax v. Lomax, among other recent developments, show significant judicial support for compulsory mediation of appropriate civil and commercial cases in England and Wales, say Margarita Michael and Grace Spurgeon of O'Melveny.

  • Key Risks And Developments For UK Law Firm Culture In 2020

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    In 2020, law firms throughout the U.K. will be increasingly reshaped by rapid changes in societal expectations and advances in technology, say Helen Rowlands and Niya Phiri of Clyde & Co.

  • Cos. Can Start Preparing Now For Immigration Beyond Brexit

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    Ahead of the U.K.'s likely departure from the European Union on Jan. 31, 2020, companies should use the one-year transition period to help workers understand any new registration requirements, evaluate budgetary concerns and expedite any employee relocations, say Julia Onslow-Cole and Charlotte Wills at Fragomen.

  • #MeToo Pressure On UK Businesses Is Set To Rise

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    Recent declarations by the Financial Conduct Authority and Prudential Regulation Authority indicate that sexual harassment in the U.K.'s financial services industry may lead to consequences under the newly expanded Senior Managers and Certification Regime, and other sectors are facing growing scrutiny as well, say attorneys at Covington.

  • Opinion

    UK's Insurer Investigations May Not Help Policyholders

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    The U.K. Ministry of Justice's recent investigations into insurers suspected of not passing on savings to consumers suggests insurers may see consequences for their hollow promises, but only if the government follows through to hold insurers accountable, says Tom Jones of Thompsons Solicitors.

  • The Outlook For Autonomous Vehicles In The UK And US

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    As both the U.K. and U.S. governments continue to develop regulatory frameworks for autonomous vehicles, manufacturers can take certain steps to avoid litigation and manage risk, say attorneys at FaegreBD.

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