Insurance UK

  • February 05, 2024

    UK Could Have To Raise Pension Age To 71, Study Warns

    The retirement age might have to rise to 71 in Britain by 2050 to maintain the number of workers per pensioner to sustain economic stability and the viability of pension systems, a specialist think tank said on Monday.

  • February 05, 2024

    Gov't Clarifies Pension Dashboard 'Deferral' Rules

    The U.K. government has published guidance setting out under which circumstances pension schemes can delay connecting to new online retirement savings portals.

  • February 05, 2024

    Broker WTW Launches Insurance For Endangered Coral Reef

    Insurance broker WTW said on Monday that it is launching a new policy designed to offer protection to the coral reef system in a group of islands in the South Pacific Ocean.

  • February 05, 2024

    Confidence In Pensions Outlook Dips In UK, Studies Show

    Confidence in pensions and the overall outlook for retirement is declining in Britain, according to analysis published Monday, with concerns about allocated state payments in old age driving negative sentiment.

  • February 02, 2024

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

    This past week in London has seen Dentons sued by a former high-profile partner in Saudi Arabia, Jaguar Land Rover rev its engine in the intellectual property court against automotive company HaynesPro, and the Russian National Reinsurance Company tackle a settlement with BOC Aviation over stranded aircraft. Here, Law360 looks at these and other new claims in the U.K.

  • February 02, 2024

    ED&F To Face £56M Trial Over Role In Danish Cum-Ex Fraud

    Denmark's £56 million ($70.7 million) claim against ED&F over its alleged role in a fraudulent tax refund scheme can head to trial, a London judge ruled Friday despite finding that the Danish tax authority could have raised its new case against the broker earlier.

  • February 02, 2024

    Holiday Inn Owner, Insurers Settle Suit Over $11M Ida Award

    A New Orleans Holiday Inn owner asked a Louisiana federal court to permanently dismiss its suit against three insurers over an $11.4 million arbitration award and related bad faith claims after the parties reached a settlement in January.

  • February 02, 2024

    'Unprecedented' Year Ahead For UK Pension Risk Transfers

    The year ahead is poised to be one of "unprecedented change" for the U.K. pension risk transfer market, a consultancy has said, predicting more competition among insurers and increasing value of deals.

  • February 02, 2024

    EU Watchdog Warns Of High Level Of Pensions Risk Exposure

    The European Union's pensions watchdog has warned that workplace pension schemes are exposed to high risks on market and asset returns, due to highly volatile bond markets. 

  • February 02, 2024

    Pension Schemes Still Behind On Watchdog Code Prep

    One quarter of defined benefit retirement saving schemes have not yet analyzed how they fall short of the requirements mapped out in the pension watchdog's new code of practice due to take effect next month, WTW said Friday.

  • February 02, 2024

    Quality Of Financial Reporting Still Mixed, Watchdog Says

    The U.K.'s largest private companies still need to improve the quality of their financial reporting, especially for risk management, according to a review by Britain's accounting watchdog.

  • February 02, 2024

    HgCapital Trust To Invest £44M In German Insurance Broker

    U.K. investment company HgCapital Trust PLC said Friday that it will invest £44.2 million ($56.4 million) in German insurance brokerage platform GGW Group to help it grow.

  • February 01, 2024

    Irwin Mitchell Not Liable For Helpline Advice To Future Client

    A London appeals court on Thursday affirmed that law firm Irwin Mitchell LLP did not have a duty to advise a potential client that she needed to alert a tour operator following a life-threatening accident abroad, even though she lost the opportunity to potentially recover more than £1 million ($1.27 million).

  • February 01, 2024

    Accounting Watchdog Flags Barriers To Entry For Audit Firms

    Britain's accounting regulator said Thursday that the audit market still has steep barriers to entry, holding back the level of competition and choice in the sector.

  • February 01, 2024

    Greenwashing Risk Hurting ESG Funds, EU Watchdog Says

    Europe's financial markets watchdog has warned that greenwashing risks are hurting the growth of environmental, social and corporate governance funds, potentially damaging investor confidence.

  • February 01, 2024

    EU Plans Closer Scrutiny Of BigTech Financial Services

    European Union financial regulators on Thursday revealed plans to create a data mapping tool available for all regulatory bodies of member states that will monitor the major tech companies' activities in financial services.

  • February 01, 2024

    Ex Claims Negligence Over Husband's £110,000 Death Benefit

    A woman has alleged that her ex-husband's employer wrongly denied her a £110,000 ($139,000) payout after he died while working for the business, alleging that it negligently followed old instructions and wrongly gave the money to his children.

  • February 01, 2024

    Labour To Take Forward Mansion House Pension Reforms

    The Labour Party appears likely to continue with the current policy trajectory for pension plans to invest to a greater extent in the U.K. economy if it wins the election, in a move experts said would offer stability to the sector.

  • February 01, 2024

    Gov't To Navigate 'Regulatory Arbitrage' With Superfund Laws

    Any future legislation on so-called pension superfunds will be drafted in a way that ensures that the emerging sector does not have an unfair advantage over insurance companies, the government has said.

  • February 01, 2024

    Switzerland Floats Plan To Curb Nature-Related Financial Risk

    Switzerland's finance watchdog launched plans on Thursday that it said would improve how banks and insurers in the country manage financial risks related to nature and strengthen their resilience to those challenges.

  • February 01, 2024

    Austrian Lender BAWAG Buys Dutch Online Bank For €510M

    Austria's BAWAG Group AG said Thursday that it will buy a Dutch online bank from ASR Nederland NV, an insurer, for €510 million ($550 million) in a move to expand its retail and small business banking services in Europe.

  • January 31, 2024

    FCA Warns Firms Against False Price, Trade Messaging

    The Financial Conduct Authority has warned companies to take steps to prevent the communication of false prices or trades in securities to investors, which could cause potential financial harm.

  • January 31, 2024

    Eversheds, Clifford Chance, CMS Steer £400M Pension Deal

    Insurer Just Group has said it has taken on £400 million ($510 million) of pension liabilities on behalf of a technology company in a transaction steered by Eversheds Sutherland, Clifford Chance LLP and CMS Cameron McKenna Nabarro Olswang LLP.

  • January 31, 2024

    UK Launches Probe Into £3B Insurance Broker Merger

    Britain's antitrust authority has launched a probe into insurance broker Atlanta Group's £3 billion ($3.8 billion) planned merger with rival Markerstudy as it seeks to establish whether the deal will harm competition in any U.K. markets.

  • January 31, 2024

    Car Insurance Premiums Keep Climbing In Face Of High Costs

    Insurance premiums for U.K. drivers went up 12% in the last quarter as insurers faced rising costs, the Association of British Insurers said Wednesday.

Expert Analysis

  • Hard Insurance Market Will Influence Legal Industry, Economy

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    As the cost of claims starts to outstrip the value of premiums, insurers are denying more claims and considering scaling back coverage, leading to an influx of legal work and potential holes in the market, says Bruce Hepburn at Mactavish.

  • Digital Nomads: Key Considerations For Global Businesses

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    As employers and employees embrace remote, location-independent work arrangements enabled by technology, they must be mindful of the employment law and tax consequences such arrangements may trigger, say Hannah Wilkins and Audrey Elliott at Eversheds Sutherland.

  • New License Eases Sanctioned Clients' Legal Fee Payments

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    The general license recently issued by the U.K. Office of Financial Sanctions Implementation permitting the payment of legal fees owed by a sanctioned company or individual will potentially reduce the agency's backlog and is welcome news for both lawyers and OFSI staff, say Zulfi Meerza and Syed Rahman at Rahman Ravelli.

  • Preparation Is Key To Businesses Minimizing Cyber Breaches

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    A recently published report by the U.K. Department for Digital, Culture, Media and Sport on organizational experiences of cybersecurity breaches highlights the importance of having breach response policies in place and being able to demonstrate that reasonable preventive and risk management steps were taken, says Lawson Caisley at White & Case.

  • UK Policyholders Can Expect Better COVID Claims Handling

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    The U.K. Financial Conduct Authority recently outlined some best practices for COVID-19 business interruption claims handling, which, along with recent High Court of Justice decisions, will likely lead to faster claims handling and clearer insurer communication, say Gurpreet Sanghera and Charlie Edwards at Simkins.

  • A Recovery Option For Lenders With Planes Stuck In Russia

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    For aircraft lessors considering insurance coverage litigation to recover for losses of equipment leased to Russian airlines, negotiating an assignment of rights may provide a faster pathway to recovery, say David Klein and Jose Lua-Valencia at Pillsbury.

  • Series

    My Favorite Law Prof: How I Learned To Argue Open-Mindedly

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    Queens College President Frank Wu reflects on how Yale Kamisar’s teaching and guidance at the University of Michigan Law School emphasized a capacity to engage with alternative worldviews and the importance of the ability to argue for both sides of a debate.

  • 4 Key Skills For An Effective Attorney Coaching Conversation

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    As BigLaw firms are increasingly offering internal coaching as one of many talent strategies to stem ongoing lawyer attrition, Stacey Schwartz at Katten discusses how coaches can help attorneys achieve their goals.

  • New Clarity On Directors' Creditor Duty In Insolvency Context

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    The recent case of BTI 2014 v. Sequana, the first to consider the creditor duty at U.K. Supreme Court level, provides directors and insolvency practitioners with significant guidance on how close to insolvency the company needs to be for the creditor duty to be engaged, say attorneys at Shearman.

  • FCA Pension Scheme Case Highlights Issues Ripe For Reform

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    The Financial Conduct Authority's response to the British Steel Pension Scheme case exposed wider issues within its regulatory approach and could demonstrate the need for industrywide reforms to minimize the risks with transferring out of a pension scheme, say Oliver Reece and Larisa Gordan at PwC.

  • What An Organization Can Do To Protect Its Supply Chains

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    In light of recent world events, supply chain issues have never been more critical for business, and to protect the commercial viability of their contracts, organizations should address performance concerns in good time, with a workable strategy in place should the chain break down, says Laura Heeley at Eversheds Sutherland.

  • German Draft Bill Reflects Trend Toward New Antitrust Tools

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    A recently proposed amendment to the German Act against Restraints on Competition continues the trend in Europe to equip authorities with greater powers, shifting from a more traditional approach to a more extensive market protection tool, say attorneys at Gibson Dunn.

  • How Counsel Can Effectively Lead Data Breach Investigations

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    More businesses are expecting in-house counsel to lead cybersecurity incident responses, so lawyers should work on asking external responders the right questions, managing ransom negotiations to gain time and information, and communicating with regulators to avert or limit penalties, say Oliver Price and Kevin Hughes at FTI Consulting.

  • What EU Oil Spill Insurance Ruling Means For UK Arbitration

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    A recent European Court of Justice opinion in an insurance dispute related to the 2002 sinking of oil tanker MV Prestige provides clarity on the priority of cross-border judgments and arbitral awards, and indicates that EU member state civil judgments will be given precedence over U.K. arbitral awards — with exceptions, says David Vaughan at Collyer Bristow.

  • UK Claim Limitation Ruling Is A Tentative Win For Insurers

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    A U.K. county court's recent decision in Rashid v. Direct Savings reduces the limitation period for third parties to make direct claims against insurers, potentially providing insurers with a defense that was not previously apparent, if the decision is upheld on appeal, says Robert Morris at RPC.

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