Insurance UK : Law360 : Legal News & Analysis

Try our Advanced Search for more refined results

Don't want ads? Subscribe or login now.

Insurance UK

UK Faces Pensions Crisis As Millions Risk Retirement Penury

Britain will have to radically rethink what retirement means, amid a growing number of warning signs that millions of savers will have to work longer and retire with less income than their parents, unless the government intervenes, pension experts have warned.

Concept picture of pound notes with a calculator and pen.

FCA's New Redress Powers Spark Some Legal Concerns

Government plans to reform the Financial Ombudsman Service will give the Financial Conduct Authority new powers to introduce wide-ranging consumer redress programs at its discretion, leading lawyers to warn that the regulator could become too susceptible to public pressure.

Close-up of aeroplane jet-engine on a runway

Top Commercial Dispute Rulings Of 2025: Midyear Report

England's courts have dealt in the first half of 2025聽with a multibillion-dollar legal dispute with insurers over planes stuck in Russia, slashed the exposure faced by banks over motor finance claims and set out how the proceeds from a landmark class action against Mastercard should be distributed.

Insurers Face Rising Tide Of Claims From AI-Driven Fraud

Insurers in Britain could be on the hook for far higher losses because of the rising use聽by criminals聽of artificial intelligence tools to invent or inflate claims, lawyers have warned.

September 29, 2025
McLaren Driver Can Run Loss Mitigation Defense In $21M Trial

脕lex Palou can seek to dodge damages in an almost $21 million claim from McLaren Racing Ltd. by arguing that the British motor racing group mitigated its losses after he walked away from his Formula 1 deal by signing on a different driver.
September 29, 2025
Allianz Loses 拢20K Costs Claim Against Ex-Employee

Allianz has lost its quest to recover 拢20,000 ($27,000) from a former employee who sued the company, failing to convince a tribunal that she acted unreasonably by bringing her claim.
September 29, 2025
EU Council Reinstates Sanctions Over Iran's Nuclear Activities

The European Union said on Monday that it will reimpose sanctions on Iran, following the lead of the United Nations, which brought back restrictions over concerns that the Middle Eastern country had breached a commitment to halt its nuclear weapons development.
September 29, 2025
Most Investors Fear Greenwashing In ESG Investments

A financial services trade body said Monday it has discovered that most private investors are concerned about greenwashing in investments and even more prioritize performance over sustainability.聽
September 29, 2025
Fund Managers Push EU Watchdog To End Double Reporting

A trade body for European fund managers urged Europe's markets watchdog on Monday to remove dual-sided reporting of derivatives and loans in its planned simplification of reporting on financial transactions.
September 29, 2025
Marsh Sells Ireland Personal Lines Business To Cornmarket

Insurance giant Marsh McLennan has sold its Ireland personal lines insurance business to Cornmarket, the Belfast-based broker has said.
September 29, 2025
Insurance Underwriter Helios To Return 拢7.3M To Investors

Helios Underwriting PLC said Monday that it plans to launch a share buyback worth up to聽approximately 拢7.3 million ($9.8 million) as the insurance industry investment vehicle noted the strong performance of the Lloyd's specialist market.
September 26, 2025
FCA Proposes Rule Changes To Allow Targeted Support

The Financial Conduct Authority proposed rule changes Friday to align its proposed "targeted support" with existing rules, including senior manager accountability.
September 26, 2025
UK Litigation Roundup: Here's What You Missed In London

This past week in London has seen聽Sanjeev Gupta鈥檚 Liberty OneSteel sue its collapsed former lender Greensill Capital, television personality Janice Dickinson hit ITV with a personal injury claim after falling over while appearing on 鈥淚鈥檓 a Celeb 鈥︹€�, and energy investor Blasket bring fresh litigation against Spain amid a row over a $416 million arbitration award. Here, Law360 looks at these and other new claims in the U.K.
September 26, 2025
Report Urges Pension Reform To Boost UK Equity Investment

U.K. pension funds' retreat from domestic stocks is聽undermining the country's economy, but reforms could channel up to 拢100 billion ($134 billion) into the stock market by the end of the decade, a report has claimed.
September 26, 2025
FCA Warns Public About Unregulated High-Risk Investments

Britain's financial regulator on Friday warned the public against investing in high-risk schemes being offered by unregulated firms without truly weighing the risks.
September 26, 2025
Formula 1 Bosses To Tackle Rising Motorsport Insurance Cost

The world governing body of Formula 1 has formed a task force to assess the reasons behind the soaring insurance costs associated with motor sport. 聽
September 26, 2025
UK-Bermuda Target Sanctions Evasion With 拢300K New Funds

The U.K.'s minister of state for the overseas territories has pledged up to 拢300,000 ($402,000) this financial year to bolster the sanctions capacity of Bermuda, a self-governing territory that has so far frozen over $200 million in assets.
September 25, 2025
Gov't Warns Of Tax Hit From Pre-Budget Pension Withdrawals

British pension savers that pull cash out of their retirement pots due to pre-Budget jitters will eat into a portion of their tax-free allowance, even if they later change their mind and cancel the withdrawal, the government confirmed Thursday.
September 25, 2025
Oakley Capital Launches Euro Insurance Services Platform

Private equity company Oakley Capital said Thursday it has launched an insurance services platform to consolidate companies in southern Europe.
September 25, 2025
EU Leans On 11 Countries To Implement New AML Rules

The European Commission said Thursday that it is taking the first step toward legal action against 11 European Union countries over their failure to meet a deadline to start implementing new anti-money laundering rules.
September 25, 2025
Linklaters Guides BP Scheme On 拢1.6B Pension Mega Deal

Energy giant BP has offloaded 拢1.6 billion ($2.1 billion) of its pension liabilities to Legal & General Assurance Society Ltd., the insurer said Thursday, in a deal guided by Linklaters LLP, Macfarlanes LLP and DLA Piper.
September 25, 2025
Trade Body Urges Patience On Canada-Style Pension Reform

The U.K. must be patient and allow time for plans to consolidate public sector pension arrangements rather than rush to emulate a Canadian model for retirement savings, Pensions UK has said.
September 24, 2025
Chubb Blames Reinsurers For $5.7M Aircraft Loss Bill

Chubb has urged the High Court to force a group of war risk reinsurers to cover the $5.7 million it owes to aircraft lessors, arguing that the reinsurers are liable under a landmark court order determining the fate of planes stranded in Russia.
September 24, 2025
Ransomware Gangs Shift Focus To Small Biz, Insurer Warns

Insurers have seen a sharp decline in payouts from cyberattacks in the first half of the year, as hackers turn their attentions on smaller, more vulnerable businesses, Allianz said Wednesday.
September 24, 2025
FCA Faces Legal Challenge Over Bond Data Contract Award

The Financial Conduct Authority said Wednesday that it has received a legal challenge to its decision to award a contract for the bond consolidated tape provider, delaying the regulator's contract with the successful bidder.
September 24, 2025
Ship Co. Seeks $5M Payout For Vessel Hit By Houthi Rockets

A shipping company has told a London court that its insurer can't avoid a $5 million payout to cover a vessel that was sunk by Yemen-based Houthi rebels, arguing the attack did not fall under a war exemption.
September 24, 2025
'Muted' Start For Pension Deals As Market Falls To 拢9.8B

The value of pension transactions in the first half of the year fell by around 41% compared to the same period last year, a consultancy said Wednesday, describing it as a "muted" start for the normally busy bulk annuity market.
September 24, 2025
Gowling Guides Trustees On 拢160M Portakabin Pension Deal

U.K.-based modular building provider Portakabin Ltd. has completed a 拢160 million ($215.5 million) full-scheme buy-in of its pension plan with Aviva PLC, the insurance giant said Wednesday.
September 24, 2025
Tokio Marine Updates Cyber-Products Amid Evolving Threat

Global insurer Tokio Marine Kiln said it has expanded the range of cyber-insurance products it offers to meet what it called the evolving threat of digital criminals.

Editor's Picks

Top Court Ruling In 'Whiplash' Test Case Could Hit Premiums

Personal injury claimants could get higher payouts from their motor insurance as a result of a test case ruling at Britain's highest court on Tuesday, although analysts warn that insurers could respond with higher premiums to cover the cost of bigger claims.
FCA Begins Crackdown On Poor-Value Insurance Products

The move by the Financial Conduct Authority to restrict sales of guaranteed asset protection insurance is a sign of a faster approach to market intervention, and could lead the regulator to scrutinize other underperforming products, consultants say. 聽
Post-Election UK Pension Changes Could Be In The Fine Print

Regulatory lawyers are not expecting radical overhaul in pension policies if the government changes after this year's general election. But lawyers say that signals in the opposition Labour Party's policy language could hint at possible shifts in investment priorities for retirement savings.

Expert Analysis

What EBA Report Means For Non-EU Financial Firms

In a recent report concerning unregulated third country banks, the European Banking Authority decided not to extend a bank-to-bank exemption under the Capital Requirements Directive, raising a number of compliance issues for cross-border services, say lawyers at A&O Shearman.
What To Note From FCA, Gov't Financial Growth Proposals

Recent Financial Conduct Authority and government proposals for financial services reform are positive developments for firms, signaling a drive to push forward growth and a willingness to be flexible in areas of regulation that the industry has long raised as barriers, say lawyers at Simmons & Simmons.
FCA Misconduct Guide Will Expand Firms' Duty To Investigate

The Financial Conduct Authority's recent proposals on workplace nonfinancial misconduct will place a greater onus on compliance and investigations teams, clarifying that the question to ascertain is whether the behavior is justifiable and proportionate, say lawyers at Ashurst.
Mansion House Speech Heralds New Financial Regulatory Era

The chancellor of the exchequer's recent Mansion House speech introduced a sweeping commitment to modernize regulation, which will require U.K. retail banks and building societies to revisit core assumptions, and allow lawyers to play a key role in shaping the new rules, say lawyers at Addleshaw Goddard.
Key Points From EU Proposals To Ease Securitization Rules

The European Commission鈥檚 recently proposed securitization framework amendments aim to relax existing rules, such as by reducing due diligence requirements and removing the need for investors to conduct certain prescribed compliance verifications by sponsors or original lenders, say lawyers at McDermott.
What To Expect As FCA Preps To Launch AI Testing Service

The Financial Conduct Authority鈥檚 forthcoming artificial intelligence live testing service will provide participants with access to appropriate regulatory expertise, but to gauge the tool鈥檚 potential utility, it is important to understand how it fits in with what the regulator is already doing, says Omar Salem at Fox Williams.
EU Banking Watchdog Regulations Herald New AML Era

The European Banking Authority鈥檚 forthcoming anti-money laundering package will set a framework for compliance across the European Union by redefining the rules of engagement between financial institutions and supervisors, setting a new standard for transparency and accountability, say lawyers at A&O Shearman.
What To Expect As UK, US Gov'ts Develop Stablecoin Policies

While the U.K. and U.S. governments鈥� policies both suggest that fiat-backed stablecoins can improve efficiency and safety in payments systems, a perception that crypto-assets remain high risk means consumers are unlikely to use them in significant volume anytime soon, say lawyers at Cadwalader.
What Insurers Can Do To Prepare For PRA 'Solvent Exit' Rules

With less than a year until the Prudential Regulation Authority's new solvent exit rules for insurers come into force, it is critical that firms prepare to meet the imminent deadline by outlining an execution plan and establishing clear governance arrangements, say lawyers at Holman Fenwick.
How Regulators Want Online Platforms To Fight Finance Fraud

Recent statements from the International Organization of Securities Commissions and the European Securities and Markets Authority make clear that online platform providers are expected to adopt proactive measures to prevent the promotion of unauthorized financial services and related misconduct, say lawyers at Taylor Wessing.
FCA Notes Industry Criticism But Keeps Transparency Focus

The Financial Conduct Authority鈥檚 recently updated enforcement guide finally gives up the "naming and shaming" public interest test, demonstrating that the regulator has recognized the industry's serious concerns while maintaining less contentious aspects of its proposals to improve transparency in investigations, say lawyers at Irwin Mitchell.
Court Backing Of FCA Pensions Ruling Sends Key Message

The Upper Tribunal鈥檚 recent upholding of the Financial Conduct Authority's decisions against CFP Management directors serves as a judicial endorsement of the regulator鈥檚 approach to defined benefit transfers, underscoring that where the advisory model is fundamentally flawed, the consequences for those in control can be severe, say lawyers at RPC.
Pension Schemes Bill's Most Notable, Controversial Measures

The long-awaited Pension Schemes Bill recently introduced to Parliament creates a framework for harnessing money saved in U.K. workplace pension funds to grow the country鈥檚 economy, but provisions relating to local government pension scheme investment, and scale and asset allocation, are controversial, says Claire Dimmock at Squire Patton.
Decoding Arbitral Disputes: Prestige's Jurisprudential Legacy

The U.K. Supreme Court's recent denial of appeal ended Spain's decades-long quest to enforce an 鈧�855 million arbitral judgment against a London insurer, throwing into stark relief the increasingly complex relationship between arbitral sovereignty, foreign state immunity and the shifting terrain of post-Brexit private international law, says Josep Galvez at 4-5 Gray's Inn.
UK Securities Tax Reform Will Be Welcomed By Investors

The proposed reforms resulting from HM Revenue & Customs' recent consultation on modernizing stamp taxes on shares, suggesting a single digital tax on securities to replace stamp duty and stamp duty reserve tax, are expected to reduce complexity for investors transacting in U.K. securities, say lawyers at Ropes & Gray.