Insurance UK

  • February 19, 2024

    AmTrust Hikes Counterclaim To £14M In Legal-Funding Fight

    Insurer AmTrust has boosted its counterclaim against Novitas to £14.4 million ($18.1 million), alleging it paid out to the legal loans company under after-the-event litigation policies that were unenforceable and did not comply with regulations.

  • February 19, 2024

    FCA Secures Bankruptcy Order Against Pension Promoters

    The Financial Conduct Authority has said it has secured bankruptcy orders against a pair of pensions promoters in a move to cover a £10.7 million ($13.5 million) restitution order for creditors.

  • February 19, 2024

    NatWest Begins £300M Share Buyback As Profits Soar

    NatWest Group PLC said on Monday that it has launched a share buyback program worth up to £300 million ($380 million) as the financial services group looks to reduce its shareholder equity after posting a surge in profits.

  • February 19, 2024

    Lloyd's Confirms Claire Schrader As General Counsel

    Lloyd's of London said on Monday that it has appointed Claire Schrader as general counsel on a permanent basis after she held the position temporarily when her predecessor stepped down in August.

  • February 16, 2024

    Insurers Reject WRBC Corp.'s $90M COVID-19 Losses Claim

    A group of underwriters and insurance companies have denied they owe at least $90 million claimed by a Lloyd's of London syndicate to cover COVID-19 losses, arguing they have met their obligations, having already paid out around $26.6 million.

  • February 16, 2024

    Law Firm Loses Over Solicitor's Pension On Maternity Leave

    A London-based commercial law firm discriminated against an associate solicitor because she was on maternity leave and forced her to resign by making baseless criticisms about her performance, a tribunal has ruled.

  • February 16, 2024

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

    This past week in London has seen a legal battle erupt between JPMorgan and the founder of a Greek payments company following a dispute over the valuation of their jointly owned fintech business, the children of late Russian oligarch Vladimir Scherbakov face a claim by Fieldfisher LLP, the Director of Education and Training at the Solicitors Regulation Authority tackle a claim by two solicitors, and train operator First MTR South Western Trains file a claim against a security company. Here, Law360 looks at these and other new claims in the U.K.

  • February 16, 2024

    Stephenson Harwood Hires Regulatory Pro In Corporate Boost

    Stephenson Harwood LLP has appointed regulatory lawyer Christophe Boucherie as a partner in its London office, a move it believes will strengthen its corporate practice.

  • February 16, 2024

    UK Pension Annuity Sales Hit £5.2B In 2023, ABI Says

    The total value of pension annuities for consumers jumped by almost 50% to £5.2 billion ($6.6 billion) in 2023, a trade body said Friday, a rise fueled in part by rising interest rates.

  • February 16, 2024

    Claims Managers Are Clouding Regulatory Status, FCA Warns

    Claims management companies are failing to distinguish between regulated and unregulated activity, which can mislead consumers into thinking that it all enjoys the same protection, according to a review by the Financial Conduct Authority.

  • February 15, 2024

    Gallagher Denies Liability In $7.3M Cargo Reinsurance Claims

    Insurance broker Gallagher has denied owing insurers $7.3 million for allegedly failing to pay money owed under a reinsurance contract covering decades-old cargo losses, saying it has already paid out the sums required.

  • February 15, 2024

    City Lobby Calls For Tax Cuts, Investment Reform In Budget

    The U.K. government should cut taxes on banking, make it easier for firms to list as public companies and create a new investment office to boost competitiveness, according to a leading financial lobby.

  • February 15, 2024

    Claimant Body Denies Injury 'Epidemic' Before Court Appeal

    Insurers have widely exaggerated the rise in the number of so-called mixed tariff injuries, a trade body for the claimant sector said on Thursday, as the U.K.'s highest court prepares for hearings next week on how to compensate people who have been affected.

  • February 15, 2024

    FCA Quizzes Top Firms On Advice Services Fees

    The Financial Conduct Authority said Thursday it has written to 20 of the largest financial adviser firms to gauge how those businesses charge clients after giving advice amid its broader focus on ensuring customers are treated fairly.

  • February 15, 2024

    Osborne Clarke Steers £114M Standard Life Pension Deal

    Standard Life said Thursday that it has completed a £114 million ($143 million) buy-in transaction guided by Osborne Clarke LLP to acquire the pensions of around 1,800 members of the Vector Pension Scheme.

  • February 15, 2024

    UK Gov't Asks Financial Regulators To Review AI Policing

    The government said on Thursday that it has told financial markets regulators to publish an update by April 30 on how they will police artificial intelligence.

  • February 15, 2024

    Fintech Expert Appointed To FCA Board For 3-Year Term

    HM Treasury said Thursday it had appointed Bryan Zhang, an expert in financial technology and open banking, to the Financial Conduct Authority's non-executive board for an initial term of three years.

  • February 15, 2024

    Addleshaw Goddard Adds BoE Deputy GC To Finance Team

    Addleshaw Goddard said on Thursday that it has hired the Bank of England's deputy general counsel as a partner to bolster its financial services regulation team in London.

  • February 14, 2024

    BDO Sues Insurance Broker Over Unpaid M&A Advisory Fee

    Accounting firm BDO LLP has sued KGJ Insurance Services and three of its directors over claims they failed to pay out for the advisory services BDO provided the insurance broker as it looked for a new buyer.

  • February 14, 2024

    UK Access Rules Too Burdensome, Say European Funds

    An association for Europe's investment managers has asked the Financial Conduct Authority to make its planned regime giving European funds "equivalent" access to U.K. markets less burdensome, given similar requirements do not exist for U.K. funds.

  • February 14, 2024

    Insurers On Hook After Top Court Rules On Credit Hire Claims

    The cost of motor claims for insurers could rise after Britain's highest court ruled on Wednesday that they have to pay additional damages to replacement car hire companies after a road traffic accident, although experts say there could still be a silver lining. 

  • February 14, 2024

    FCA Flagged 10,000 Misleading Financial Ads In 2023

    Britain's finance watchdog has ramped up its fight against misleading financial advertisements, reporting on Wednesday that it intervened to have more than 10,000 promotions posted online without proper authorization pulled or amended in 2023.

  • February 14, 2024

    Broker WTW Works With Maths Lab On Catastrophe Modeling

    Insurance broker WTW unveiled a new collaboration on Wednesday between its research network and the London Mathematical Laboratory to improve how it predicts natural disasters such as earthquakes or hurricanes and deals with the consequences.

  • February 14, 2024

    Insurers Must Pay Out On Third-Party Hire Car Losses

    Insurers must cover rental income lost by car hire firms when their vehicles are involved in accidents, the U.K.'s highest court ruled on Wednesday in a case that is likely to add major costs for the insurance industry.

  • February 13, 2024

    Insurance Broker Escapes £2.6M Claim From Foundry Client

    A London judge has dismissed an investment advisory firm's bid to collect £2.6 million ($3.2 million) from its insurance broker for problems that allegedly nullified the foundry's coverage for an industrial site.

Expert Analysis

  • How Businesses Can Prepare For Cyber Resilience In 2024

    Author Photo

    With cybersecurity breaches one of the biggest threats to U.K. businesses and as legislation tightens, organizations should prioritize their external security measures in 2024 and mitigate risks by being well-informed on internal data protection procedures, says Kevin Modiri at Nelsons.

  • Lessons To Be Learned From 2023's Bank Failures

    Author Photo

    This year’s banking collapses, coupled with interest rate rises, inflation and geopolitical instability have highlighted the need for more robust governance, and banks and regulators have learned that they must adequately monitor and control liquidity risk to protect against another financial crisis, say Juliette Mills and Alix Prentice at Cadwalader.

  • The Top 7 Global ESG Litigation Trends In 2023

    Author Photo

    To date, ESG litigation across the world can largely be divided into seven forms, but these patterns will continue developing, including a rise in cases against private and state actors, a more complex regulatory environment affecting multinational companies, and an increase in nongovernmental organization activity, say Sophie Lamb and Aleksandra Dulska at Latham.

  • PPI Ruling Spells Trouble For Financial Services Firms

    Author Photo

    The Supreme Court's recent decision in Canada Square v. Potter, which found that the claimant's missold payment protection insurance claim was not time-barred, is bad news for affected financial services firms, as there is now certainty over the law on the postponement of limitation periods, rendering hidden commission claims viable, say Ian Skinner and Chris Webber at Squire Patton.

  • DC Ruling Provides Support For Builders Risk Claim Recovery

    Author Photo

    To deny coverage for builders risk claims, insurers have been increasingly relying on two arguments, both of which have been invalidated in the recent U.S. District Court for the District of Columbia decision, South Capitol Bridgebuilders v. Lexington, say Greg Podolak and Cheryl Kozdrey at Saxe Doernberger.

  • Navigating The Novel Challenges Facing The Legal Profession

    Author Photo

    The increasing prominence of ESG and AI have transformed the legal landscape and represent new opportunities for lawyers, but with evolving regulations and the ever-expanding reach of the Solicitors Regulation Authority, law firms should ensure that they have appropriate policies in place to adapt to these challenges, say Scott Ashby and Aimee Talbot at RPC.

  • New Fixed Costs Rules May Have Unforeseen Consequences

    Author Photo

    The recent changes to fixed recoverable costs, which were intended to reduce costs and increase certainty, have profound implications for civil claims, but may unintentionally prompt more litigation and reduce access to justice as lawyers leave the market, says Paul Squires at Sedgwick Legal.

  • Sustainable Finance Consultations May Signal Key Changes

    Author Photo

    The European Commission's recently launched consultations on the sustainable finance disclosure regulation point to important changes, including the potential introduction of a new product categorization system, and illustrate that there are clearly issues with the existing framework, say Ferdisha Snagg and Andreas Wildner at Cleary.

  • Deal Over Jets Stranded In Russia May Serve As Blueprint

    Author Photo

    In the face of a pending "mega-trial" over leased airplanes held in Russia after its invasion of Ukraine, a settlement between leading aviation lessor AerCap Holdings NV and NSK, the Russian state-controlled insurance company, could pave the way for similar deals, say Samantha Zaozirny and Timeyin Pinnick at Browne Jacobson.

  • What The Auto-Enrollment Law Means For UK Workforce

    Author Photo

    In a welcome step to enhance retirement savings, the U.K. government is set to extend the automatic enrollment regime by lowering the eligibility age and reducing the lower qualifying earnings limit, but addressing workers' immediate financial needs remains a challenge, says Beth Brown at Arc Pensions.

  • Protecting The Arbitral Process In Russia-Related Disputes

    Author Photo

    Four recent High Court and Court of Appeal rulings concerning anti-suit injunction claims illustrate that companies exposed to litigation risk in Russia may need to carefully consider how to best protect their interests and the arbitral process with regard to a Russian counterparty, say lawyers at Linklaters.

  • RSA Insurance Ruling Clarifies Definition Of 'Insured Loss'

    Author Photo

    A London appeals court's recent ruling in Royal & Sun Alliance Insurance v. Tughans, that the insurer must provide coverage for a liability that included the law firm's fees, shows that a claim for the recovery of fees paid to a firm can constitute an insured loss, say James Roberts and Sophia Hanif at Clyde & Co.

  • Key Takeaways From ICO Report On Workforce Monitoring

    Author Photo

    The Information Commissioner's Office recently published guidance on workplace monitoring, highlighting that employers must strike a balance between their business needs and workers' privacy rights to avoid falling afoul of U.K. data protection law requirements, say lawyers at MoFo.

  • Firms Should Prepare For New DEI Reporting Requirements

    Author Photo

    While the Financial Conduct Authority and Prudential Regulation Authority's recent proposals on diversity and inclusion in the financial sector are progressive, implementing reporting requirements will pose data collection and privacy protection challenges for employers, say lawyers at Fieldfisher.

  • Shifting From Technical To Clear Insurance Contract Wordings

    Author Photo

    Recent developments on insurance policies, including the Financial Conduct Authority's new consumer duty, represent a major shift for insurers and highlight the importance of drafting policies that actively improve understanding, rather than shift the onus onto the end user, say Tamsin Hyland and Jonathan Charwat at RPC.

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!