Insurance UK

  • February 08, 2024

    UK Gov't Sets Up Pension 'Small Pots' Support Group

    The U.K. government has brought together a group of regulators and industry experts to implement proposals designed to help savers track their pensions, a move lawmakers said could benefit the average saver by £700 ($882) at retirement.

  • February 08, 2024

    Fox Williams Hires Fintech Partner From Deloitte

    Fox Williams LLP has hired specialist tech and fintech partner Chris Hill to its London office from Deloitte Touche Tohmatsu Ltd.

  • February 08, 2024

    Aviva's £460M AIG Life UK Takeover Gets Competition Probe

    The Competition and Markets Authority said on Thursday it has launched an investigation into Aviva PLC's planned all-cash acquisition of the U.K. protection business of AIG Life Ltd. for £460 million ($580 million).

  • February 08, 2024

    Arc Pensions Law Hires Litigation Pro From Pinsent Masons

    Specialist firm Arc Pensions Law LLP has hired pensions expert Ben Fairhead as a new partner from Pinsent Masons LLP.

  • February 07, 2024

    Women Need Extra 19 Years In Work To Close Pension Gap

    Women in the U.K. would need to work for an additional 19 years on average to retire with the same amount of pension savings as a man, according to research published on Wednesday. 

  • February 07, 2024

    City Regulator Warns It Cannot Fine Cloud Service Providers

    The Prudential Regulation Authority's senior leadership warned MPs on Wednesday that it will be unable to fine large third-party cloud service providers to banks and insurers like Google or Amazon Web Services under new powers.

  • February 07, 2024

    Pension Funding Hits Record Despite Gilt 'Roller Coaster'

    Pension funding in the U.K. reached a record surplus of £265 billion ($334.6 billion) in January despite the economic turbulence towards the tail end of last year, according to an analysis by PwC.

  • February 07, 2024

    UK Freezes Pensions Auto-Enrollment Thresholds Again

    Britain's pensions minister has said the government will retain the current earnings threshold at which workers are automatically enrolled into pension plans, citing "prevailing economic factors."

  • February 07, 2024

    FCA Tells Insurers To Provide Non-Financial Misconduct Data

    The Financial Conduct Authority has given insurers written notice to provide statistics on incidents of non-financial misconduct like bullying and harassment at their firms.

  • February 07, 2024

    Rise In Retiree Costs Is 'Wake-Up Call,' Ex-Minister Says

    The rise in annual costs for U.K. retirees should be a "wake-up call" to the government and pensions industry, a former pensions minister said Wednesday as a trade body released new estimates for the cost of living in retirement.

  • February 07, 2024

    Gov't Must Rehire Axed Jobcentre Staffer, Pay Her £68K

    A government department must reinstate an unfairly fired member of staff and pay her £68,000 ($86,000) in salary arrears after it ignored the effect of her medication on her actions when it carried out its botched misconduct investigation.

  • February 06, 2024

    Trade Bodies Want Delay On EU Sustainability Rule Changes

    Trade bodies are putting pressure on the European Commission to coordinate how it plans to alter its sustainability disclosure regime, calling for a delay and a "period of stability" to ensure clarity and prevent regulatory overlap when it implements changes.

  • February 06, 2024

    Brown & Brown Acquires Insurance Broker Stewart & Partners

    Insurance broker Brown & Brown (Europe) Ltd. said Tuesday it has bought 100% of the shares of Oxlea Investments Ltd., trading as Stewart & Partners, in a deal that will allow Brown & Brown to expand its range of products.

  • February 06, 2024

    Ex-Watchdog Boss Faults New Pension Funding Regulations

    The U.K. government has missed an opportunity to better encourage pension schemes to invest in the economy in its revised funding regulations for the sector, a former policy boss at The Pensions Regulator warned.

  • February 06, 2024

    Insurers Call For Premium Tax Cuts, Flood Defense Spending

    British insurers urged the government on Tuesday to reduce the premium tax rate and allocate more funds to flood defense in the spring Budget, moves they say will help ease the strain on consumers and businesses.

  • February 06, 2024

    EU Securities Watchdog To Get New ESG Rating Powers

    The European Union's securities watchdog will gain new powers to regulate environmental, social and governance ratings providers under rules agreed by EU lawmakers.

  • February 06, 2024

    Burges Salmon Guides Insurance Co. In £72M Pension Deal

    DAS Insurance has offloaded £72 million ($90 million) of its employee pension liabilities to Canada Life, in a deal steered by Burges Salmon LLP.

  • February 05, 2024

    Insurer Cuts Claim Against Cigna For Costs Of Missold PPI

    PA (GI) Ltd. has cut its £36.7 million ($46.1 million) claim against Cigna to recover the costs of dealing with missold payment protection insurance for healthcare cover, following a London court order that it cannot recoup costs for life-related insurance policies.

  • February 05, 2024

    Pension Watchdog Warns Schemes After Capita Cyber Breach

    The U.K.'s retirement savings watchdog has asked pension trustees to report cyber incidents to it on a voluntary basis, in the wake of a data breach at one of the U.K.'s largest scheme administrators.

  • 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.

Expert Analysis

  • How The LDI Crisis May Lead To Pensions' Negligence Claims

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    Following the liability-driven investment crisis and its impact on pension schemes, employers and trustees may now be considering if anyone is to blame for any losses arising, say Rachael Healey and Andrew Oberholzer at RPC.

  • 5 Crypto Considerations For UK Policymakers

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    A recent consultation paper from the U.K.'s HM Treasury about digital asset regulation has been touted as a cause for celebration, and while the wheels have been put into motion, there is still a lot of work to do when it comes to correctly regulating the U.K.'s cryptocurrency industry, says Oliver Linch at Bittrex Global.

  • Crypto-Asset Consultation Sets Out Direction Of Travel For UK

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    HM Treasury's phased approach in its recently published consultation on extending the U.K.'s future financial services regulatory regime for crypto-assets, although in many ways differing from parallel developments in the EU, is likely to be conducive to thoughtful policymaking, say attorneys at Cleary.

  • EU Act Offers Financial Sector A Cybersecurity Framework

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    Although unlikely to be a complete solution to all risk management issues, the Digital Operation Resilience Act, effective from 2025, will increase regulatory pressure substantially in the EU financial sector and demand compliance with several new requirements, say attorneys at DLA Piper.

  • Warranty & Indemnity Insurance Considerations For M&A

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    With increased competition and greater capacity leading to lower premiums and deal costs, warranty and indemnity insurance is now available to the wider M&A market, and may help to limit risk and help parties focus on other key elements of the transaction, says Alice Wooler at Birketts.

  • 4 Exercises To Quickly Build Trust On Legal Teams

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    High-performance legal teams can intentionally build trust through a rigorous approach, including open-ended conversations and personality assessments, to help attorneys bond fast, even if they are new to the firm or group, says Ben Sachs at the University of Virginia School of Law.

  • Lessons To Be Learned From Twitter's Latest Hacking Scandal

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    Following the report of a recent data breach at Twitter, it is clearly vital for companies to adhere to best practices in data protection and IT security arrangements, including technical measures, and proper processes and procedures that mitigate risk and provide adequate training for staff, says Simon Ridding at Keller Postman.

  • Preparing For EU's Pay Gap Reporting Directive

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    An agreement has been reached on the European Union Pay Transparency Directive, paving the way for gender pay gap reporting to become compulsory for many employers across Europe, introducing a more proactive approach than the similar U.K. regime and leading the way on new global standards for equal pay, say attorneys at Lewis Silkin.

  • 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.

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