Insurance UK

  • August 22, 2024

    Nearly 2,000 Failing To Claim UK State Pension 'Goldmine'

    Almost 2,000 people could be sitting on a pensions "goldmine" because they have failed to respond to letters from the Department for Work and Pensions about the potential underpayment of state pensions to their dead relatives, according to a former pensions minister.

  • August 21, 2024

    NJ Man Fighting Lloyd's Arbitration Bid After False Arrest

    A New Jersey man who received a $5 million settlement from the city of Trenton after being falsely arrested and imprisoned for 212 days has urged a federal court not to force him to arbitrate a subsequent dispute with Lloyd's of London underwriters over payment of the judgment.

  • August 21, 2024

    Top Commercial Disputes To Watch In 2nd Half Of 2024

    A claim against BHP from victims of Brazil's deadliest environmental disaster, a $10 billion insurance megatrial over planes stranded in Russia and a legal challenge to the response by the U.K. financial regulator to the mis-selling scandal are just some of the trials to look out for in the second half of 2024.

  • August 21, 2024

    Pension Bodies Call For Investment Consultants Regulation

    The government should urgently move forward with delayed plans to bring investment consultants under the supervision of the Financial Conduct Authority, pension bodies and climate groups warned.

  • August 21, 2024

    PE Firm's £432M Deal Wins UK Security Clearance

    Wealth management firm Mattioli Woods said Wednesday that the U.K. government has granted national security clearance to its acquisition for approximately £432 million ($564 million) by private equity firm Pollen Street, clearing the way after some delay for the completion of the deal.

  • August 21, 2024

    UK Fraud Fund Pays Out £9.8M To Norton Pension Members

    The pensions fraud compensation body said it has paid out £9.8 million ($12.8 million) to retirement savings plans sponsored by manufacturer Norton Motorcycles Holdings Ltd., after the company director was convicted of misappropriating funds.

  • August 21, 2024

    Broker SRG Eyes UK Rival Amid 2024 Shopping Spree

    Specialist Risk Group has said it hopes to make its fifth acquisition for 2024 after it offered to buy Anthony James Insurance Brokers Ltd., which it expects will boost its retail division across the U.K.

  • August 21, 2024

    Insurers Failing To Give Customers Good Value, FCA Warns

    The Financial Conduct Authority called on insurers and brokers on Wednesday to remedy failures to demonstrate that they offer fair value to customers with good outcomes.

  • August 20, 2024

    Insurers Deny Liability Over $790M Stranded Aircraft Claims

    Two insurers have argued they are not liable for paying out claims totaling more than $790 million over planes stranded in Russia, arguing the aircraft had not been "lost" to their lessors under the terms of the policies.

  • August 27, 2024

    Linklaters Taps White & Case For Finance Head In Sweden

    Linklaters LLP said Tuesday that it has recruited a leveraged finance expert from White & Case LLP to lead its banking practice in Sweden and to boost its support to clients including banks and private equity firms.

  • August 20, 2024

    Clifford Chance 'In Shock' Over Missing Partner

    Clifford Chance said Tuesday that it is "in shock and deeply saddened" that a partner is among six passengers missing from a yacht that was reportedly chartered to celebrate the legal victory of technology entrepreneur Mike Lynch.

  • August 20, 2024

    Marsh Launches $50M Insurance After Baltimore Bridge Crash

    Insurance broker Marsh said on Tuesday that it has launched a $50 million insurance product to guard against losses caused by blockages in shipping ports following the disruption caused by the collapse of the Francis Scott Key Bridge in Baltimore.

  • August 20, 2024

    FCA Move To Results-Based Regulation Could Hurt Firms

    The Financial Conduct Authority's planned move to an outcomes-based approach to regulation is raising concerns among lawyers that the resulting uncertainty could undermine companies in the sector and weaken the government's push for international competitiveness.

  • August 20, 2024

    Pinsent Masons-Led Broker AUB Acquires UK Movo Group

    AUB Group Ltd. has said that it has agreed to buy an 80% equity stake in U.K. insurer Movo Group, as the Australian broker bids to expand its operations in Britain.

  • August 20, 2024

    Gov't Launches Pension Credit Promo Before Fuel Benefit Cut

    The government launched a campaign on Tuesday to boost the number of people claiming pension credits, after it said that winter fuel allowances will be a means-tested benefit this year.

  • August 19, 2024

    Gov't Will Meet With Women State Pension Campaigners

    The U.K. pension minister will meet with women who are owed billions in compensation due to historic state pension failings, campaigners said.

  • August 19, 2024

    German Finance Watchdog Warns Of AI-Linked Discrimination

    Germany's financial watchdog has said it will take "decisive action" against the companies it supervises it they fail to stop illegal discrimination caused by artificial intelligence and machine learning.

  • August 19, 2024

    Gov't Targets Consolidation In First Phase Of Pension Review

    The Labour government has said that the first phase of its retirement savings review will be centered on the consolidation of the defined contribution pension market.

  • August 19, 2024

    RPC Helps Japanese Fintech Debut In London After Purchase

    Japanese crowdfunding platform MOH Nippon PLC was admitted to trading on the London Stock Exchange on Monday after being bought by a special purpose acquisition company for £34.5 million ($44.7 million).

  • August 19, 2024

    Pinsent Masons Steers Aviva's £34M Macmillan Pension Deal

    Aviva PLC has covered £33.7 million ($43.7 million) of pension liabilities for Macmillan Cancer Support, which covers the retirement savings plans of all the retirees and deferred members of the British charity.

  • August 16, 2024

    Stay Lifted On $110M Coal Co. Suit As Arbitration Drags On

    A Missouri federal judge has grudgingly lifted a pause on litigation between several insurance companies and a St. Louis coal producer after its mines sustained more than $115 million in fire damage, saying it can pursue claims against domestic insurers separately from insurers seeking arbitration.

  • August 16, 2024

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

    This past week in London has seen Barry Manilow sued by music rights company Hipgnosis, a struck-off immigration lawyer take on the Solicitor's Disciplinary Tribunal and the former CEO of a collapsed bridging loan firm start proceedings against the FCA. Here, Law360 looks at these and other new claims in the U.K.

  • August 16, 2024

    Pension Scheme Endgames Pushed Back Amid Falling Yields

    The average timeline for U.K. pension schemes to reach a point where they can buy out their liabilities with an insurance company was extended last month, due to falling bond yields, experts said.

  • August 16, 2024

    PwC Fined £15M For Failing To Flag LC&F Fraud Suspicion

    The Financial Conduct Authority said Friday it has fined PricewaterhouseCoopers LLP £15 million ($19.3 million) for failing to report to the regulator its belief that London Capital & Finance PLC might be involved in fraud.

  • August 16, 2024

    Revolut Valued At $45B After Secondary Equity Issue

    U.K. fintech Revolut said Friday it has secured a $45 billion valuation in a share sale by its employees to new and existing investors, cementing its status as Europe's most valuable private technology company.

Expert Analysis

  • Opinion

    Law Schools Should Be More Like Medical Centers

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    Medical centers and their faculty matter to the practice of medicine. Law schools and their faculty do not matter to the practice of law, says J.B. Heaton of J.B. Heaton PC.

  • Opinion

    Courts Are Getting It Right On Litigation Funding Discovery

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    Earlier this month, a California federal court denied discovery into the identification of third-party funders with a financial interest in the outcome of an underlying patent infringement action. This decision in MLC v. Micron follows a long line of well-reasoned precedent across U.S. federal courts, say Matthew Harrison and Sarah Jacobson of Bentham IMF.

  • Worldwide Freezing Orders Can Backfire Without Proper Care

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    Worldwide freezing orders, which preserve a respondent's assets until the outcome of the substantive case, are an important weapon in the arsenal of a commercial litigant. However, as FSDEA v. Dos Santos demonstrates, courts lay heavy obligations upon WFO applicants, says Nicola McKinney of Grosvenor Law Ltd.

  • UK Litigation And Guidance Highlight Cybersecurity Risk

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    Recent developments in the United Kingdom emphasize the importance of companies implementing cybersecurity measures proactively both to prevent incidents and to argue in mitigation when, not if, the company does suffer a data breach, say Guillermo Christensen of Ice Miller LLP and Anupreet Amole of Brown Rudnick LLP.

  • 2 BVI Cases Explore Scope Of Proper Purpose Test

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    Two recent cases in the Eastern Caribbean Court of Appeal have presented British Virgin Island courts an opportunity to develop a local jurisprudence regarding the BVI Business Companies Act and provide guidance on how the proper purpose test is to be applied, says Rosalind Nicholson of Walkers Global.

  • Last-Minute Brexit Preparations For EU Financial Firms

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    As the deadline for a hard Brexit draws ever closer, financial firms operating in the United Kingdom or European Union must consider how possible outcomes will impact transactions and contractual relationships, and take steps to mitigate business interruptions, say Gilles Kolifrath and Linda Sharkey of Kramer Levin Naftalis & Frankel LLP.

  • What To Expect From Serious Fraud Office In 2019

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    The coming year looks to be an interesting one for the U.K. Serious Fraud Office. With new Director Lisa Osofsky firmly in post, expectations are high that she will shake things up in the next few months, say Anna Gaudoin and Alison Geary of WilmerHale.

  • UK Privacy Rules That Can Catch You Off Guard

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    The recent data breach scandal involving the Leave.EU campaign shows that the U.K. Privacy and Electronic Communications Regulations is often overlooked by businesses, says Alexander Edwards of Rosling King LLP.

  • Autonomous Vehicles And UK Product Liability Law: Part 2

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    With autonomous vehicles expected to hit the streets of the United Kingdom soon, manufacturers, insurers and their legal counsel face the challenge of determining how the U.K.'s product liability laws will be applied to questions of negligence, evidence and contracts raised by self-driving vehicles, says Michaela Herron of Bristows LLP.

  • Autonomous Vehicles And UK Product Liability Law: Part 1

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    Autonomous vehicles present a number of challenges to the United Kingdom's product liability legal framework, especially with regard to the vehicles' heavy reliance on software, consumers' expectations of safety and the need for compliance with varying local traffic rules, says Michaela Herron of Bristows LLP.

  • A Victory For Legal Privilege In Cross-Border Investigations

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    The U.K. Court of Appeal's recent decision in Serious Fraud Office v. Eurasian Natural Resources is a substantial step toward confirming the application of legal privilege in internal investigations, and has significantly reduced the divergence in U.K. and U.S. privilege law, say attorneys with Milbank Tweed Hadley & McCloy LLP.

  • UK And EU Crawl Toward Virtual Currency Regulation

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    The lack of a harmonized approach to regulation of initial coin offerings in the EU is leading to a piecemeal approach across member states that will hamper blockchain developments, say Jacqui Hatfield and Rebecca Kellner of Orrick Herrington & Sutcliffe LLP.

  • Is Equifax Data Breach Penalty A Sign Of Fines To Come?

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    Recently, the U.K. Information Commissioner's Office fined Equifax £500,000 for falling victim to a cyberattack — the highest penalty available. Some speculate that this decision is a sign that the ICO is already assuming a tougher stance following the commencement of the General Data Protection Regulation, say James Castro-Edwards and Eaven Prenter of Wedlake Bell LLP.

  • Ensure That Dispute Resolution Mechanisms Are Brexit-Proof

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    With only five months remaining for the U.K. to make a deal with the EU and the possibility of a "no-deal" Brexit looking increasingly plausible, now is the time to take proactive steps to protect your clients’ positions and to make sure that their contracts are effective and enforceable, say Claire Stockford and Caitlin McLean of Shepherd & Wedderburn LLP.

  • 5 Cyber Insurance Pitfalls To Avoid In The UK

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    Faced with the opportunity to purchase cyber risk insurance to mitigate the damage caused by cyber events, prospective policyholder companies need all the help they can get in order to navigate this increasingly complex part of the U.K. insurance market, says Richard Mattick of Covington & Burling LLP.

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