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Insurance UK
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July 31, 2025
Yahoo Says Chubb Unit Must Cover Potential EU Privacy Fines
Yahoo says a Chubb subsidiary is obligated to cover regulatory fines that might be leveled against one of the tech company's subsidiaries for violating the European Union's data privacy law, but the insurer has refused to honor the policy, according to a lawsuit filed this week in Delaware.
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July 31, 2025
Lloyd's, Loan Provider Settle $3M Pitcher Coverage Feud
Lloyd's of London underwriters and loan service provider RockFence Baseball LLC have settled their dispute over coverage for the $3.16 million聽loan of a former Minnesota Twins pitcher, after a California federal judge ordered the parties into arbitration in January 2024.
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July 31, 2025
Pensions Ombudsman Says Caseload Is Outpacing Funding
The Pensions Ombudsman said that its funding has failed to keep pace with the rising caseload of complaints, forcing it to look at artificial intelligence to help reduce waiting times.
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July 31, 2025
Tax Breaks On Pension Contributions Rise to 拢52.1B
The total cost of pensions tax breaks has risen by 拢2.4 billion ($3.2 billion), government figures revealed Thursday, amid speculation about a raid by HM Treasury in the next Budget.
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July 31, 2025
Squire Patton-Led JTC To Buy Swiss Bank Unit For 拢20M
JTC PLC said Thursday it plans to acquire a finance services company that caters to ultra-rich clients from Swiss private bank Union Bancaire Priv茅e SA for 拢20 million ($26.5 million), as the Jersey-based fund administrator seeks to increase its global presence.
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July 31, 2025
A&O Shearman Guides Brookfield On 拢2.4B Just Group Buy
Investment giant Brookfield said Thursday that it plans to buy Just Group, a British life insurer, for 拢2.4 billion ($3.2 billion) in a deal steered by A&O Shearman and Slaughter and May.
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July 30, 2025
Insurers Lose Bid To Avoid $37M Ship Detention Payout
A group of insurers on Wednesday lost their bid to escape paying out $37 million to the owners of a cargo ship detained by the Indonesian navy, with a London appeals court ruling that the detention was not excluded from cover.
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July 30, 2025
Sainsbury's Bank Partners With Allianz For Insurance Policies
Insurance giant Allianz UK said Wednesday that it has penned a deal to offer replacement home and motor insurance policies to Sainsbury's Bank customers as their current cover expires.
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July 30, 2025
UK Gov't Forced To Repay 拢48.7M In Pension Overtaxation
The government has had to hand back 拢48.7 million ($64.7 million) in the past three months to Britons who paid too much tax when tapping into their pension savings, figures revealed Wednesday, as experts say a fix for the long-running tax provision so far has shown little effect.
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July 30, 2025
Property Insurance Payouts Rise To 拢1.6B In 3 Months
A trade body for British insurers has said the sector paid out 拢1.6 billion ($2.1 billion) in property claims between April and June, driven largely by adverse weather conditions in the U.K.
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July 30, 2025
Insurance Broker Aon Warns Of Looming Market Shift
Aon said Wednesday that looming threats to the global economy from further geopolitical instability and major cyberattacks could soon mean a major shift in the underwriting market.
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July 30, 2025
Allianz Settles 拢9M Structural Dispute With Housing Trust
Insurance giant Allianz and a London-based social housing provider have agreed to a settlement in a 拢9 million ($12 million) row over the cost of fixing a range of structural defects in a property in London.
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July 30, 2025
Looser SMCR May Leave Banks More Open To Fraud Charges
The Financial Conduct Authority's proposed partial relaxation of the approval process under its senior managers regime as the U.K. pushes for deregulation could leave companies more exposed to fraud prosecution as the failure to prevent fraud offense goes live in September.
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July 29, 2025
Bridgehaven Buys Irish Insurer To Enter EU Market
British insurance company Bridgehaven said it is poised to enter the European market after penning an agreement to buy the Irish insurer SureStone Insurance DAC.
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July 29, 2025
Tech Co. Accuses Seller Of Hiding Issues Ahead Of 拢20M Deal
A group of companies owned by an American technology and security conglomerate has sued the former owner of a company it acquired for more than 拢20 million ($26.6 million), accusing him of concealing a raft of problems with the business.
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July 29, 2025
Global Insurance M&A Drops To Lowest Level Since 2008
Geopolitical instability, persistent inflation and high interest rates have all contributed to a cautious global insurance market, with mergers and acquisitions activity during the first half of 2025 falling to its lowest since the 2008 financial crisis, according to a new report.
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July 29, 2025
EU Watchdog Finds Failings In AML Defenses At Crypto-Firms
The banking watchdog of the聽European Union聽has warned that many crypto-asset companies lack effective anti-money laundering systems, reporting that abuse of services in the sector for financial crime is a major concern.
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July 29, 2025
Kirkland Guides Bridgepoint On German Broker Majority Stake
U.K. private equity firm Bridgepoint said Tuesday that it has penned a deal to acquire a majority stake in German insurance broker Hanseatic Broking Center, in a deal steered by Kirkland & Ellis LLP and Sidley Austin LLP.
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July 29, 2025
Osborne Clarke Guides 拢37M Pension Deal For Heart Charity
The British Heart Foundation's pension plan has agreed to a 拢37 million ($49.4 million) full scheme buy-in with mutual life insurer Royal London, consultancy Broadstone said Tuesday.
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July 28, 2025
FCA Flags AI Risks In Benchmark Administrators' Controls
The City watchdog warned Monday that administrators of companies that set benchmarks lack consistency in how they manage data, saying there was inadequate evidence that their controls are evolving to cover risks from new technology such as AI.
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July 28, 2025
IMF Warns Of 'Difficult Decisions' On UK Pension Triple Lock
The U.K. could be forced to rethink how it sets the state pension every year as it seeks to rein in spiraling public spending, the International Monetary Fund has warned.
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July 28, 2025
Investment Boss Told To Pay Back 拢170K From 拢37M Fraud
A director of an ethical investment scheme imprisoned for defrauding investors out of 拢37 million ($50 million) was ordered by a court on Monday to pay back 拢170,000 or have two years added to his sentence.
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July 28, 2025
Veteran Banker Named Interim Chair Of Financial Ombudsman
The City watchdog said Monday that it has appointed Liam Coleman as interim chair of the Financial Ombudsman Service, following a long career in banking and the public sector.
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July 28, 2025
Allianz Life Hack Attack Exposes Most Clients' Info
Insurance giant Allianz has said that hackers have stolen personal data from most of its 1.4 million customers in America after cybercriminals hacked into a third-party system used by its U.S. subsidiary.
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July 28, 2025
Britons Fear Impact Of Inheritance Tax Change On Pensions
Four out of 10 people in Britain are concerned about the government's decision to bring pensions within the scope of inheritance tax, according to a survey by a consultancy on Monday.
Expert Analysis
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An ICO Reminder On Managing Subject Access Requests
Although the U.K. Information Commissioner's Office鈥檚 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.
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Opinion
Increasing Law Firm Polarization Will Degrade Rule Of Law
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.
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The FTX Fallout So Far And What May Come Next
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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Hard Insurance Market Will Influence Legal Industry, Economy
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.
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Digital Nomads: Key Considerations For Global Businesses
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.
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New License Eases Sanctioned Clients' Legal Fee Payments
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.
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Preparation Is Key To Businesses Minimizing Cyber Breaches
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.
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UK Policyholders Can Expect Better COVID Claims Handling
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.
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A Recovery Option For Lenders With Planes Stuck In Russia
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.
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Series
My Favorite Law Prof: How I Learned To Argue Open-Mindedly
Queens College President Frank Wu reflects on how Yale Kamisar鈥檚 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.
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4 Key Skills For An Effective Attorney Coaching Conversation
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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New Clarity On Directors' Creditor Duty In Insolvency Context
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.
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FCA Pension Scheme Case Highlights Issues Ripe For Reform
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.
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What An Organization Can Do To Protect Its Supply Chains
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.
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German Draft Bill Reflects Trend Toward New Antitrust Tools
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.