Insurance UK

  • March 22, 2024

    4 Years On, COVID Lockdown Cover Claims Near Endgame

    It has been four years since the U.K. first entered lockdown to combat COVID-19, leaving offices eerily empty and shops shuttered. And lawyers now believe that the end is near for business interruption claims against insurers.

  • March 28, 2024

    White & Case Hires 2nd Funds Pro From Ropes & Gray

    White & Case LLP has recruited a private funds lawyer from Ropes & Gray LLP — the second time it has hired a specialist as a partner from the London office of its U.S. rival in recent months.

  • March 21, 2024

    UK Insurance Tax Bill Rises To £8.1B Amid Soaring Premiums

    The Insurance Premium Tax raised more than £8.1 billion ($10.3 billion) so far this financial year, according to official figures Thursday, while premiums continue to rise.

  • March 21, 2024

    Women 'Owed' Compensation Over State Pension Failings

    Women who were affected by the U.K. government's failure to inform them that their retirement age had changed are owed compensation for the state's failings, according to a much-anticipated report released Thursday by the parliamentary ombudsman.

  • March 21, 2024

    Audit Watchdog To Probe UK Sustainability Assurance Market

    The Financial Reporting Council on Thursday said it would be studying the quality of sustainability assurance services in the U.K. to ensure the market is providing high-quality guarantees over companies' reporting.

  • March 21, 2024

    British Safety Council Calls For A Minister For Well-Being

    The British Safety Council has urged the government to appoint a well-being minister to promote welfare in the workplace at a time when illness is at a 10-year high and recent surveys suggest high stress levels and burnout among workers.

  • March 21, 2024

    FCA Tells Consumer Lenders To Detect Financial Crime Better

    The City watchdog has warned chief executives of consumer lending firms that they must improve on their detection of financial crime.

  • March 21, 2024

    ECJ Adviser Rejects Taxing Foreign Pension Funds Differently

    Taxing dividends paid to foreign public pension funds while exempting dividends paid to the source country's general retirement savings funds contravenes European Union law, an adviser to the bloc's highest court said Thursday, backing Finnish pension funds' challenge of a Swedish law.

  • March 20, 2024

    UK Pension Fraud Fund To Pay Out £416M To Victims By 2026

    The U.K.'s pension lifeboat scheme said Wednesday it expects to pay up to £416.7 million ($530 million) in compensation to members of pension schemes that have been hit by scams.

  • March 20, 2024

    Health And Safety Top Risk For Directors, Global Survey Says

    Health and safety is the top risk for directors and officers worldwide, according to a survey published Wednesday, in a "surprise" result partly attributed to the lingering impact of the COVID-19 pandemic on businesses and increasing mental health considerations.

  • March 20, 2024

    AI Misuse Will Drive Cyber Insurance Demand, Actuary Says

    The use of artificial intelligence by criminals and other evolving threats will boost demand for cyber-insurance for at least the next decade, according to analysis published Wednesday by actuarial consultancy OAC.

  • March 20, 2024

    EU Insurers Warn Regulators Of Gaps In Greenwashing Rules

    European insurers have urged the bloc's insurance and pensions watchdog to be consistent and clear with its greenwashing rules for investment products, pointing to discrepancies between jurisdictions and inconsistencies with other sustainability frameworks.

  • March 20, 2024

    Slaughter And May Cuts Partner Promotions By Half In 2024

    Slaughter and May said on Wednesday that it is adding to its bench of up-and-coming leaders by promoting five lawyers to its partnership — only half the number it elevated in 2023.

  • March 20, 2024

    UK Insurers See Boom In Income Protection Policies

    The number of people who took out personal insurance cover to shield their finances hit a record high in 2023, as more sought protection from a potentially serious accident or illness that would prevent them from working, British insurers said Wednesday.

  • March 20, 2024

    FCA Warns Pension Advisers Over Treatment Of Customers

    The Financial Conduct Authority urged pension advisers on Wednesday to look at how well they are considering the needs of their clients after a sweeping review of the sector found significant shortfalls at some companies.

  • March 19, 2024

    Financial Advisor 'Siphoned' Fees In Legal Fund Fraud Case

    A former financial adviser allegedly siphoned £5.8 million ($7.4 million) from an investment fund via secret commission payments as part of a legal financing fraud, prosecutors told a London jury at the start of his criminal trial Tuesday.

  • March 19, 2024

    Pension Watchdog Finds Trustee Boards Lack Diversity

    Pension boards across the U.K. lack diversity, according to research published Tuesday by Britain's retirement savings watchdog, which showed the characteristics of a "typical trustee" being unrepresentative of the overall U.K. population.

  • March 19, 2024

    Insurance Tech Biz Can't Get Policy Tracker Patent In UK

    An insurance tech firm can't get a patent over its automated policy tracker software in the U.K. because computer programs and business methods are not patentable, intellectual property officials said Tuesday.

  • March 19, 2024

    Charities Recovering From Pension Deficits

    Thirteen U.K. charities are no longer plugging a black hole in their pension schemes, a consultancy said Tuesday, amid a wider improvement in funding for retirement savings plans.

  • March 19, 2024

    Workers Have 'Misplaced' £50B In UK Pension Pots

    The growing number of young workers changing jobs and moving to different pensions providers has left more than £50 billion ($64 billion) in U.K. pension pots "at risk of being misplaced" in abandoned or lost accounts, according to analysis published on Tuesday.

  • March 19, 2024

    AI Tool Automates Climate-Related Financial Risk Analysis

    The Bank for International Settlements said Tuesday that it has developed an artificial intelligence tool that analyzes climate-related risks in the financial system by streamlining large sets of data — and could pave the way for future research applications.

  • March 19, 2024

    FCA Sets Out Priorities For New Financial Year

    The Financial Conduct Authority detailed on Tuesday its new priorities for the next financial year, setting out plans to protect consumers and boost competitiveness in Britain and to make better use of data.

  • March 26, 2024

    DLA Piper Hires M&A Pro Carl Hotton From Freshfields

    DLA Piper has hired mergers and acquisitions professional Carl Hotton as an insurance partner from Freshfields Bruckhaus Deringer LLP.

  • March 18, 2024

    Life Insurer DeadHappy Unable To Accept New Customers

    Life insurer DeadHappy said Monday it could not accept new customers, a year after the regulated broker faced restrictions for a controversial advertising campaign featuring a convicted serial killer.

  • March 18, 2024

    Aviva Completes £937M Exit From Singapore Insurer

    Aviva PLC said Monday that it has sold its entire stake in Singapore Life Holdings Pte Ltd., or Singlife, for £937 million ($1.2 billion), giving Sumitomo Life Insurance Co. complete control of the company.

Expert Analysis

  • Has The Liberalization Of Legal Services Achieved Its Aims?

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    Although there is still some way to go, alternative business structures are now an increasingly prominent feature of the legal services landscape, and clients can expect greater choice, improved quality and more manageable costs, as was intended by this shake-up of the profession's regulatory frameworks 15 years ago, says Dana Denis-Smith at Obelisk Support.

  • 5 Gen X Characteristics That Can Boost Legal Leadership

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    As Generation X attorneys rise to fill top roles in law firms and corporations left by retiring baby boomers, they should embrace generational characteristics that will allow them to become better legal leaders, says Meredith Kahan at Whiteford Taylor.

  • ECJ Beneficial Owners Ruling Leaves Uncertainty In Its Wake

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    The European Court of Justice's recent ruling in the WM and Sovim cases, holding that making information on a register of beneficial owners publicly available interferes with the Charter of Fundamental Rights of the EU, has been criticized as a step backward in the fight against money laundering and financing of terrorism, and its impact is not yet clear, say Michael Marschall and Verena Krikler at Schoenherr.

  • What Slovak Labor Code Changes Will Mean For Employers

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    With newly effective amendments to the Slovak Labor Code strengthening employees’ rights in a number of ways, the default mindset of the employee being the weaker party may no longer be the right approach, says Katarina Pfeffer at Bird & Bird.

  • An ICO Reminder On Managing Subject Access Requests

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    Although the U.K. Information Commissioner's Office’s recent seven reprimands regarding mismanagement of data subject access requests are unusual, it is worth organizations considering what resources and training may be available to ensure these are properly managed in the future, says Ross McKenzie at Addleshaw Goddard.

  • Opinion

    Increasing Law Firm Polarization Will Degrade Rule Of Law

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    As evidenced in recent instances of law firms separating from attorneys who represented certain industries or espoused certain views, firms and the legal practice itself have grown troublingly polarized and intolerant of dissent, says Rebecca Roiphe at New York Law School.

  • The FTX Fallout So Far And What May Come Next

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    While the downfall of FTX is likely to cause substantial losses and lead to extensive litigation, it will hopefully precipitate a renewed focus on regulating the crypto market in a responsible way that gives more protection to consumers, says Dan Wyatt at RPC.

  • 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.

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