Insurance UK

  • May 13, 2024

    UK Broker WTW Launches Ukraine Land War Insurance Cover

    Insurance broker WTW said on Monday that it has struck a deal to insure cargo traveling over land in Ukraine that comes under fire amid the protracted war with Russia.

  • May 13, 2024

    Gov't Tells Finance, Law Watchdogs To Improve AML Reports

    HM Treasury and Britain's anti-money laundering watchdog have told professional bodies in sectors including law and accounting to sharpen the focus in their annual reports on failures in compliance and supervisory actions.

  • May 13, 2024

    Demand Grows For Cross-Border Pensions In Unstable States

    Cross-border pension and saving plans have more than doubled in just five years, with much of the growth in schemes covering employees in unstable countries, according to a survey published Monday.

  • May 10, 2024

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

    The past week in London has seen Playtech file an intellectual property claim against online casino company OnAir Entertainment amid allegations of corporate spying, a broadcast equipment company sue its former owner amid allegations he conspired to inflate a customer’s finances, and aerospace company Vertical Aerospace hit a manufacturer with a claim following a test flight crash. Here, Law360 looks at these and other new claims in the U.K.

  • May 10, 2024

    Medical Device Co., Insurers Settle Equipment Damage Loss

    A medical device manufacturer and its insurers have settled their coverage dispute over the manufacturer's claim it suffered an "equipment breakdown loss" damaging its mills, lathes and vacuum pump, the insurers told a Florida federal court.

  • May 10, 2024

    Costs Of Pension Portals Rise £54M Over Launch Delays

    The cost of building new online pensions dashboards has risen by £54 million ($67.6 million) in three years as the project has faced delays due to poor governance, a damning report by the public sector audit watchdog said on Friday.

  • May 10, 2024

    Burges Salmon Steers £100M Pension Deal For Rathbones

    Insurer Canada Life said it has completed a £100 million ($125.1 million) buy-in with the pension schemes of investment and wealth management company Rathbones Group PLC, in a deal steered by Burges Salmon LLP.

  • May 10, 2024

    FCA Warns Firms Of Market Abuse Surveillance Failings

    The Financial Conduct Authority has warned in its latest market watch newsletter that some companies have inadequate or faulty systems to detect market abuse, with insufficient governance arrangements.

  • May 10, 2024

    MPs Mull Using Frozen Russian Assets For Ukraine Recovery

    Politicians are to probe leading experts, including the head of financial crime and compliance at Lloyd's of London, on whether the U.K. should follow the European Union and use profits from Russia's frozen assets to help Ukraine, as they examine the sanctions regime.

  • May 09, 2024

    AmTrust Loses Cap Costs Fight In Lloyd's Syndicate Deal

    A London court ruled Thursday that two reinsurers are entitled to cap at £1 million ($1.25 million) a range of expenses they are required to pay after they acquired AmTrust's economic interests in a Lloyd's syndicate.

  • May 09, 2024

    Insurer Beats Engineering Co.'s New Bid For $10M Payout

    England's Court of Appeal said Thursday that an insurer should not be on the hook for $10.4 million (£8.3 million) after a ship crashed into an oil platform, throwing out a legal challenge by a French engineering company.

  • May 09, 2024

    Pension Watchdog In Talks With Gov't Over New Remit

    The U.K.'s retirement savings watchdog said it is in talks with the government on formally extending its remit to encompass pension scheme administrators.

  • May 09, 2024

    Aviva Takes On Construction Co. Pension Scheme In Full

    Insurance giant Aviva has secured the benefits of all uninsured final salary members of a pension plan sponsored by a British construction group in a deal guided by CMS.

  • May 09, 2024

    Watchdog Preps Rules For Banks To Repay High-Value Fraud

    The payments watchdog has set out plans to extend its fraud reimbursement scheme to high-value bank transfers through the CHAPS system, reducing the risk that fraudsters will move there to avoid detection.

  • May 09, 2024

    Home Insurance Premiums Rise But Below Peaks, Says ABI

    Home insurance premiums rose 3% in the first quarter of 2024 because of harsh weather conditions, according to data published on Thursday by the Association of British Insurers.

  • May 09, 2024

    Fall In Inflation To Slow Insurance Price Hikes, EY Says

    British insurers will not make as much money from selling policies in the next three years because of an expected fall in inflation, Ernst & Young LLP said on Thursday, even though demand for car and home cover has risen.

  • May 09, 2024

    BBVA €12B Offer For TSB Owner Sabadell Turns Hostile

    Spanish banking giant BBVA launched a hostile takeover of Banco de Sabadell on Thursday, approaching shareholders directly with a €12 billion ($12.8 billion) all-share deal after being rebuffed by the rival bank's board.

  • May 08, 2024

    Marsh Can't Duck Chemical Co.'s Negligence Claim

    A London court on Wednesday refused Marsh's bid to strike out a global chemicals group's claim alleging the insurance broker negligently arranged faulty motor insurance cover.

  • May 08, 2024

    FCA Mulls 'Enforcement Watch' As Naming Alternative

    The Financial Conduct Authority's top executives on Wednesday vigorously defended its plans to name firms under investigation, but saw value in a potential alternative move to publish an "enforcement watch" newsletter giving an overview.

  • May 08, 2024

    HSF, Ashurst-Led Ardonagh Buys Insurer For $1.5B

    U.K. insurance broker Ardonagh Group Ltd. said on Wednesday it has agreed to acquire Australia-based PSC Insurance Group Ltd. in a transaction worth $2.25 billion Australian dollars ($1.48 billion), to help it expand into new markets.

  • May 08, 2024

    Insurer Claims 400 Pension Deals Penned In 12 Years

    Insurer Just Group said Wednesday it has completed 400 pension transfer deals since it launched in 2012, adding that the year ahead is poised to break more records in the retirement savings de-risking market.

  • May 08, 2024

    'Inertia' Fears Over FCA's Pension Anti-Scam Safeguards

    The anti-scam safeguards proposed by the Financial Conduct Authority on new pension online portals could inadvertently hinder workers from taking action to improve their retirement savings, an insurer warned Wednesday.

  • May 08, 2024

    Investment Cos. Ask Gov't To Settle Disclosure Uncertainties

    A trade body has asked the U.K. Treasury to decide now whether to remove investment companies from its planned post-Brexit regime covering disclosures firms must make before selling certain products to investors to resolve a current misleading cost figure.

  • May 08, 2024

    South Africa Immune To Sunken WWII Silver Salvage Claim

    Britain's highest court ruled Wednesday that South Africa has sovereign immunity against a salvage repayment claim from a company that recovered around $43 million worth of silver bullion from a cargo ship sunk during the Second World War.

  • May 07, 2024

    Banks, Regulators Holding Back SMEs, Lawmakers Say

    A parliamentary committee urged the financial watchdogs on Wednesday to review their approach to helping small and midsized businesses gain access to money, arguing that banks are making it "needlessly tougher" to take out loans and unfairly closing accounts of legitimate companies.

Expert Analysis

  • UK Appellate Rulings Clarify Arbitral Choice Of Law

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    Two recent U.K. Court of Appeal decisions have changed the operation of the choice-of-law test for arbitration — a resolution as significant as changing the test itself because it affects the implied choices of the contracting parties, say attorneys at Squire Patton.

  • Post-Pandemic Litigation To Expect In England And Wales

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    Globally, we are already starting to see insolvency-related claims and a number of insurance, breach of ‎contract, employment and securities class actions across numerous sectors. These and other claims will likely increase for U.K. businesses, say Tracey Dovaston and Fiona Huntriss at Boies Schiller.

  • UK Lawyers Can Adapt Due Diligence To Screen New Clients

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    As COVID-19-related fraud gains pace, U.K.-based practitioners should help combat money laundering by using alternative methods to verify that new clients are who they say they are, says Christopher Convey, a barrister at 33 Chancery Lane and chair of the Bar Council's Money Laundering Working Group.

  • A UK Business View Of COVID-19's Economic Fallout

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    Covington attorneys Alex Leitch and Harry Denlegh-Maxwell provide a bird's-eye view of how U.K. businesses will navigate the legal and economic aftermath of the pandemic, including discussion of where litigation funding, class actions, insurance disputes and force majeure fit it.

  • Remote Depositions Bring Ethics Considerations For Lawyers

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    Utilizing virtual litigation technologies and participating in remote depositions require attorneys to beware of inadvertently violating their ethical obligations, including the principal duty to provide competent representation, say attorneys at Troutman Sanders.

  • Time For Presumptive Virtual Mediation In The UK

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    While the COVID-19 outbreak is a real-time test of the U.K. justice system’s adaptability and innovation, it is also an opportunity to deliver alternative dispute resolution through virtual technology — and there are two ways in which this could be achieved, says Suzanne Rab at Serle Court.

  • UK 'Property' Classification Boosts Confidence In Bitcoin

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    In AA v. Persons Unknown, the English High Court classified bitcoins as property that can be the subject of proprietary injunctions, indicating the slow but growing acceptance of virtual currencies within the U.K., say Steven De Lara and Colin Grech at Signature Litigation.

  • 3 EU And UK Data Protection Tips During COVID-19

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    Though EU and U.K. data protection laws should not impede the fight against COVID-19, companies must continue to protect individuals' data, and the challenges of managing a remote workforce and the desire for information about the virus’s impact have significant implications for that responsibility, say attorneys at Debevoise.

  • Novolex Case Brings Lessons On R&W Insurance

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    A New York state court dispute between Novolex and a few of its insurers concerning coverage under a representations and warranties policy for a $267 million loss offers a rare glimpse into how a court might interpret acquisition agreements and insurance policy provisions, say attorneys at Hunton.

  • 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.

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