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Insurance UK
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March 21, 2025
FCA Probes Commission 'Concerns' Over Life Insurance Sales
The financial watchdog said that Friday it is launching a probe into whether insurance cover for critical illness or death in a family represents fair value to consumers, amid concerns over the sales of overpriced or unsuitable products.
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March 28, 2025
Simmons & Simmons Hires 4 Insurance Pros From Kennedys
Simmons & Simmons LLP has hired a team of four lawyers from Kennedys to boost the international insurance claims service at its London office.
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March 21, 2025
Underwriter Ignite Launches Litigation Cover In Europe
Insurance business Ignite Specialty Risk said it will start offering litigation cover in the European Economic Area, following new legislation on class action.
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March 20, 2025
Gallagher Hits Back At Former CEO's £1.5M Claim For Losses
Arthur J. Gallagher & Co.'s benefits and consulting arm denies that it owes a former chief executive of a company it acquired £1.55 million ($2 million) on his claim that it failed to manage the business correctly, as legal wrangling over the acquisition continues.
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March 20, 2025
Audit Watchdog Pledges Support For Gov't Growth Priority
The audit watchdog said Thursday it will adjust priorities to support U.K. economic growth better in its new three-year strategy, in line with government priorities.
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March 20, 2025
Gowling, Sackers Steer £785M Pension Deal For Crops Biz
An agricultural giant has offloaded £785 million ($1 billion) of its pension liabilities to Legal & General Assurance Society Ltd., the insurer said Thursday, in a deal guided by Gowling WLG, Sacker & Partners LLP and Clifford Chance LLP.
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March 20, 2025
Firms Still See Pension Schemes As Risk, Despite Surplus
Most company bosses see their pension scheme as a financial risk, despite planned reform that will allow excess funding to be reinvested in the business, a professional services firm warned.
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March 20, 2025
MPs Urged To Block FCA Email Deletion Policy
Âé¶¹´«Ã½makers should prevent the Financial Conduct Authority from going ahead with its "draconian and opaque" policy to delete staff emails after a year, consumer groups and advocates said Thursday.
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March 20, 2025
Gov't Growth Priority Forces FCA To Reassess Consumer Risk
Moves by the U.K. government to force the financial watchdog to back economic growth with more relaxed regulatory controls could expose consumers to harm, leaving regulators with no clear idea of what risk levels would be politically tolerable.
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March 19, 2025
Group Status Prohibits VAT, Prudential Tells UK Top Court
Prudential disputed a value-added tax claim on £9.3 million ($12.1 million) in performance fees at the U.K. Supreme Court on Wednesday on the grounds that the business providing the services was a part of the same group as Prudential for tax purposes.Â
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March 19, 2025
Freshfields Guides €3.5B Sale Of Life Insurer Viridium
A consortium that includes German insurer Allianz said Wednesday that it would buy a controlling stake in European life insurance consolidator Viridium Group from Cinven Group Ltd, a private equity firm, for €3.5 billion ($3.8 billion).
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March 19, 2025
UK Regulator OKs Aegon Unit's First Long-Term Asset Fund
Aegon Asset Management said Wednesday that the Financial Conduct Authority had greenlighted its plan to launch its open-ended fund vehicle to offer investors regulated access to illiquid assets.
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March 19, 2025
Pressure Grows On State Pension As Life Expectancy Rises
Life expectancy for the U.K. grew for the first time since the COVID-19 pandemic between 2021 and 2023, according to official data, suggesting further strain on taxpayers footing expected state pension cost increases.
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March 19, 2025
Swiss Bank Accused Of Ignoring $1B Kuwaiti Bribery Scheme
A Swiss bank turned a blind eye to a scheme of corrupt payments orchestrated by the former director of Kuwait's pensions authority by failing to make reasonable inquiries into suspicious accounts, lawyers for the body told a court on Wednesday.
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March 19, 2025
FCA Urged To Act As Insurance Finance Rates Still High
The Financial Conduct Authority must be prepared to take tough action against insurers on premium finance, a consumer group warned, as it revealed that interest charged on monthly repayments was still above 30% despite repeated warnings from the regulator.
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March 19, 2025
European Insurance M&A Deals Hit Record 20% In 2024
The number of deals involving European insurance businesses rose by 20% in 2024, largely driven by an increase in consolidation among brokers and service providers, a consultancy said Wednesday.
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March 18, 2025
Minister Defends Rejection Of Pension Redress For Women
The U.K. government did not ignore a parliamentary report that condemned historic state failures to inform women their state pension age had changed, but came to a "different conclusion" in a "rare, but not unprecedented" move, the pensions minister said Monday.
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March 18, 2025
Watchdog Probes MHA's Audit Of Failed UK Builder ISG
The accounting watchdog said Tuesday that it has launched an enforcement investigation into accountancy firm MacIntyre Hudson LLP over its audit of failed construction services company ISG Ltd.
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March 18, 2025
Gowling-Led Church Of Scotland Seals £75M Pension Buy-In
The Church of Scotland offloaded £75 million ($97.3 million) of its pension scheme liabilities to London-listed Just Group PLC, the insurer said Tuesday, in a deal guided by Gowling WLG and Burness Paull LLP.
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March 18, 2025
Treasury Meets Fintech Bosses On Growth, Scrapping Rules
Chancellor Rachel Reeves met bosses of financial technology companies on Tuesday to discuss growth opportunities and new legislation to scrap unnecessary rules and boost capital markets, according to HM Treasury.
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March 18, 2025
Aspen Says Frost Damage Excludes Pellet Maker's £4M Claim
Aspen Insurance UK has argued it was right to deny a £4.2 million ($5.6 million) claim by a wood pellet manufacturer seeking to cover losses sustained after damage to its production equipment because the cause of the damage was excluded from the policy.
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March 17, 2025
Insurers Fight For Arbitration In La. Hurricane Damage Dispute
A group of insurers is urging the Fifth Circuit to send its dispute with a Louisiana municipality over coverage for property damage caused by a pair of Category 4 hurricanes to arbitration, despite an opposing ruling last fall by the state's top court.
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March 17, 2025
9 In 10 Providers Using AI, Pensions Body Says
Almost 90% of organizations in the pensions sector already use artificial intelligence at work, according to a survey published Monday by the Society of Pension Professionals.
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March 17, 2025
Kuwait Pension Fund Says Director Ran $1B Bribery Scheme
The former director of Kuwait's pensions authority orchestrated a two-decade-long "unlawful scheme of corrupt payments" in excess of $1 billion, lawyers for the authority said at the opening of a bribery trial in London on Monday.
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March 17, 2025
Government Wants Pension Watchdog To Cut Red Tape
The government said Monday it wants the U.K.'s pension watchdog to cut red tape, in a bid to strip back regulatory burdens it sees as inhibiting growth.
Expert Analysis
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Surefire Marketing Methods To Build Your Legal Practice
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.
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Mandatory Mediation May Lie Ahead For England And Wales
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.
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Key Risks And Developments For UK Âé¶¹´«Ã½ Firm Culture In 2020
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.
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Cos. Can Start Preparing Now For Immigration Beyond Brexit
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.
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#MeToo Pressure On UK Businesses Is Set To Rise
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.
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Opinion
UK's Insurer Investigations May Not Help Policyholders
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.
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The Outlook For Autonomous Vehicles In The UK And US
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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Brexit's Impact On London As A Top Int'l Arbitration Seat
Despite concerns that London may be considered a less attractive place to do business post-Brexit, there are many reasons to believe that the city will retain its position as a globally favored arbitral seat, say Adrian Jones and James Wagner at FaegreBD.
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Post-Brexit UK Likely To Conform With EU On Human Rights
In a recent speech, U.K. Foreign Secretary Dominic Raab stated his intent to expand sanctions for human rights violations by extending the so-called Magnitsky amendment, strongly indicating that Britain's exit from the EU would be unlikely to disrupt coordinated efforts to address international transgressions against human rights, says Stephen Baker at Baker & Partners.
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The Evolution Of GDPR Enforcement Across The EU
With the last few months bringing significant fines to major businesses that have breached the European Union's General Data Protection Regulation, it is clear that regulators are moving away from the light-touch approach they employed during the transition to the new rules, says James Simpson of Blaser Mills.
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Series
Why I Became A Âé¶¹´«Ã½yer: Being There For Families In Trouble
My parents' contentious, drawn-out divorce was one of the worst experiences of my life. But it taught me how to be resilient — and ultimately led me to leave corporate litigation for a career in family law, helping other families during their own difficult times, says Sheryl Seiden of Seiden Family Âé¶¹´«Ã½.
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3 Ways To Leverage Vulnerability For Âé¶¹´«Ã½yer Well-Being
Admitting to imperfection is an elusive construct in the legal industry, but addressing this roadblock by capitalizing on vulnerabilities can increase personal and professional power, says life coach and attorney Julie Krolczyk.
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Zurich Case Brings Clarity To Complex Contempt Proceedings
The U.K. Court of Appeal's recent decision in Zurich v. Romaine provides insight into the meaning of "in the public interest" in the context of bringing contempt proceedings against a party or witness who verifies false claims, says Matt Peacock of Signature Litigation.
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What A No-Deal Brexit Would Mean For Dispute Resolution
In the event of a no-deal Brexit, arbitration may become a more attractive option as a dispute resolution mechanism, as it offers relatively easy enforcement and clauses that could negate some uncertainty caused by Brexit, says Donna Goldsworthy of BDB Pitmans.
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The Problem — And Opportunity — Of Implicit Bias In The Bar
Âé¶¹´«Ã½ firms are beginning to recognize implicit bias as a problem. But too few recognize that it is also an opportunity to broaden our thinking and become better legal problem solvers, says Daniel Karon of Karon LLC.