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Insurance UK
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May 27, 2025
Picturehouse Wins Insurance Fee Battle With Landlord
A London court has ordered the owner of a property in Piccadilly Circus to repay more than 拢640,000 ($870,000) it overcharged tenant Picturehouse Cinemas by loading insurance premiums for the premises with top-end broker commissions for the landlord to pocket.
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May 27, 2025
DWF Teams Up With Verisk To Provide Services To Insurers
The legal and business services provider DWF LLP announced Tuesday it has teamed up with U.S. risk management company Verisk in a partnership they hope will drive down insurers' costs and increase operational efficiency in the insurance sector.
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May 27, 2025
600 'Shadow Fleet' Tankers Carry Russian Oil, Allianz Warns
More than 600 tankers are now involved in carrying Russian oil in breach of international sanctions imposed on the country's energy industry after the invasion of Ukraine in 2022, an insurer warned Tuesday. 聽
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May 27, 2025
Insurance Adjuster Loses Appeal In COVID Mask Bias Claim
A London appeals judge has dismissed an insurance claims adjuster's case that his employer's policy on mask-wearing during the COVID-19 pandemic was discriminatory because of his belief in "bodily autonomy."
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May 27, 2025
Slaughter And May-Led Bain Invests 拢120M In UK Finance Biz
U.S. investment business Bain Capital has taken a stake worth nearly 30% in The Openwork Partnership for 拢120 million ($163 million) after winning backing from the City watchdog, the British financial adviser said Tuesday.
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May 23, 2025
UK Litigation Roundup: Here's What You Missed In London
This past week in London has seen Nestl茅 hit with an intellectual property claim by a pet insurance company, VTB Capital bring a breach of contract lawsuit against J.P. Morgan Securities, and Soci茅t茅 G茅n茅rale's former chief executive face litigation from an Italian entrepreneur.
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May 23, 2025
Chubb Denies 拢1.2M Claim Over NYT Journalist's Crash
Chubb has denied having to pay 拢1.2 million ($1.6 million) in a reinsurance chain following a settlement of claims brought by a woman who was injured in a car crash while being driven by a New York Times journalist in Scotland.
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May 23, 2025
BMS Group Strengthens Presence In Turkey With Oria Deal
Independent insurance and reinsurance broker BMS Group has acquired insurance broker Oria of聽Turkey聽to cement its position in the Turkish market and expand its network in the region.
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May 23, 2025
Pension Admin Staff Threaten Strike Over Capita Takeover
A union for public sector workers said Friday that it is balloting members for strike action after it claimed it was locked out of negotiations ahead of a takeover of the administration of civil service pensions by professional services company Capita.
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May 23, 2025
Compensation Program Shaves 拢38M Off Finance Firms' Levy
The Financial Services Compensation Scheme has shaved 拢38 million ($51.3 million) off its levy on regulated firms, because it expects a fall in claims during the 2025/26 financial year.
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May 23, 2025
Blackstone Backs Davies With 拢275M For Global Expansion
U.K. insurance professional services group Davies said Blackstone's credit and coverage business has injected 拢275 million ($371.5 million) into the company to fund its ongoing global acquisition spree.
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May 22, 2025
'Marked Increase' In Brits Turning To Private Health Insurance
The private health insurance market in Britain is growing as a result of the COVID-19-induced surge in waiting lists for U.K. hospitals, financial consultant Broadstone said Thursday.
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May 22, 2025
68% Of Pension Transferers Happy With Choice, Data Shows
Only 68% of savers who have transferred money from a defined benefit to a defined contribution scheme in the last four years are happy with their choice, analysis published Thursday shows.
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May 22, 2025
HSF Guides Royal London's Up-To-拢500M Asset Manager Buy
Royal London said Thursday that it has agreed to buy infrastructure asset manager Dalmore Capital as the mutual insurance and investment firm seeks to broaden its business.
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May 22, 2025
US Tariffs Drive Demand For Political Risk Insurance
The uncertainty around U.S. trade tariffs has increased demand among businesses for political risk insurance cover, a broker said Thursday.
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May 22, 2025
M&S Says Hack Attack Disruption To Last Till July, Cost 拢300M
Retail giant Marks & Spencer has said it expects the cyberattack hit it took in April to cost it around 拢300 million ($402 million), with disruption likely to continue to online retail until July.
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May 22, 2025
UK Pensions Watchdog To Quiz Funds On Gov't Asset Plan
The retirement savings watchdog has said that it will quiz pension funds over which assets are likely to be attractive, as part of a government strategy to encourage more investment in the national economy.
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May 22, 2025
Marsh Settles $143M Claim Over Losses In Greensill Collapse
Marsh has reached settlement in a claim of almost $143 million with investment firm White Oak, which had alleged that the insurance broker misled it when selling cover for investments in Greensill Capital, a financing firm that collapsed in 2021.
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May 22, 2025
FCA Plans Overhaul To Ease Complaints Reporting Process
The Financial Conduct Authority proposed on Thursday to introduce a simpler process for companies to report complaints that will improve its ability to detect harm for consumers.
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May 21, 2025
Herbert Smith-Led Third Point's Deal To List Reinsurer On LSE
Third Point Investors, backed by billionaire Daniel Loeb, said Wednesday it has agreed to merge with Malibu Life Reinsurance SPC and provide investors with a $75 million cash option to exit to become "a fully capitalized, London-listed, reinsurance company."
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May 21, 2025
UK Finance Sector Calls For Reforms To Boost Growth
Financial trade bodies have called for new regulatory reforms to enable private banks and wealth managers to support U.K. growth.
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May 21, 2025
UK Gov't Plans To Unlock 拢160B Pension Surpluses
The government said Wednesday that forthcoming legislation will include a program to allow companies to tap into an estimated 拢160 billion ($215 billion) in surpluses in retirement savings plans.
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May 21, 2025
UK Biz Optimism Plunged After Trump's Tariffs, Allianz Says
More than a third of U.K. businesses expect a decline in turnover in 2025 as a result of swingeing trade tariffs imposed by President Donald Trump in April, insurance giant Allianz has said.
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May 21, 2025
A&L Goodbody-Led US Broker Buys Underwriter In Ireland
The Chicago-based broker Ryan Specialty has acquired 360掳 Underwriting, a managing general underwriter with offices in Dublin and Galway, Ireland, as聽Ryan聽moves to enter the Irish market.
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May 21, 2025
Pensions Sector Could Fund Net-Zero Transition, Insurer Says
The pensions sector could fund up to half of the costs associated with the U.K.'s transition to net-zero carbon emissions by 2050, an insurer said.
Expert Analysis
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Deal Over Jets Stranded In Russia May Serve As Blueprint
In the face of a pending "mega-trial" over leased airplanes held in Russia after its invasion of Ukraine, a settlement between leading aviation lessor AerCap Holdings NV and NSK, the Russian state-controlled insurance company, could pave the way for similar deals, say Samantha Zaozirny and Timeyin Pinnick at Browne Jacobson.
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What The Auto-Enrollment Law Means For UK Workforce
In a welcome step to enhance retirement savings, the U.K. government is set to extend the automatic enrollment regime by lowering the eligibility age and reducing the lower qualifying earnings limit, but addressing workers' immediate financial needs remains a challenge, says Beth Brown at Arc Pensions.
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Protecting The Arbitral Process In Russia-Related Disputes
Four recent High Court and Court of Appeal rulings concerning anti-suit injunction claims illustrate that companies exposed to litigation risk in Russia may need to carefully consider how to best protect their interests and the arbitral process with regard to a Russian counterparty, say lawyers at Linklaters.
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RSA Insurance Ruling Clarifies Definition Of 'Insured Loss'
A London appeals court's recent ruling in Royal & Sun Alliance Insurance v. Tughans, that the insurer must provide coverage for a liability that included the law firm's fees, shows that a claim for the recovery of fees paid to a firm can constitute an insured loss, say James Roberts and Sophia Hanif at Clyde & Co.
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Key Takeaways From ICO Report On Workforce Monitoring
The Information Commissioner's Office recently published guidance on workplace monitoring, highlighting that employers must strike a balance between their business needs and workers' privacy rights to avoid falling afoul of U.K. data protection law requirements, say lawyers at MoFo.
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Firms Should Prepare For New DEI Reporting Requirements
While the Financial Conduct Authority and Prudential Regulation Authority's recent proposals on diversity and inclusion in the financial sector are progressive, implementing reporting requirements will pose data collection and privacy protection challenges for employers, say lawyers at Fieldfisher.
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Shifting From Technical To Clear Insurance Contract Wordings
Recent developments on insurance policies, including the Financial Conduct Authority's new consumer duty, represent a major shift for insurers and highlight the importance of drafting policies that actively improve understanding, rather than shift the onus onto the end user, say Tamsin Hyland and Jonathan Charwat at RPC.
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Recent Trends In European ESG-Related Shareholder Activism
New ESG reporting standards in the European Union, as well as recent climate change, board diversity and human rights cases, illustrate how shareholder activism may become more prominent in years to come as regulation and investor engagement continues to strengthen, say lawyers at Debevoise.
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How Insurance Policies Can Cover Generative AI Risks
As concerns rise about the new risks that businesses face as a result of generative artificial intelligence tools, such as AI-facilitated hacking and intellectual property infringement, policyholders should look to existing insurance policies to cover losses or damages, says Josianne El Antoury at Covington.
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Breaking Down The UK's Draft Updates To Prospectus Regime
While there still may be changes, the U.K.'s near-final draft statutory instrument to update and in some parts replace the current on-shored EU prospectus regime is likely to represent a significant overhaul of the existing regime and may make U.K. capital markets a more attractive venue for listings for issuers, say attorneys at Debevoise.
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4 Compliance Considerations Under FCA Consumer Duty
Following the U.K. Financial Conduct Authority's recent introduction of the new consumer duty regime, firms will need to be mindful of data protection implications when managing their compliance with the duty and data protection legislation, say lawyers at Bird & Bird.
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Swiss Privacy Law Reforms Present Divergences From GDPR
The differences between Switzerland鈥檚 recently reformed Federal Act on Data Protection and the EU's General Data Protection Regulation, particularly around data breach reporting and the liability of company officers, will need to be carefully managed by multinationals that may have competing obligations under different laws, say Kim Roberts and Vanessa Alarcon Duvanel at King & Spalding.
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Opinion
Russia Ruling Should Lead UK To Review Sanctions Policy
The High Court's recent dismissal of the first-ever court challenge to Russian sanctions in Shvidler v. Secretary of State sets a demanding standard for overturning designation decisions, highlighting the need for an independent review of the Russia sanctions regime, says Helen Taylor at Spotlight on Corruption.
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Pension Plan Amendment Power Lessons From BBC Ruling
The High Court's recent ruling in BBC v. BBC Pension Trust upheld an unusually restrictive fetter on the pension scheme's amendment power, which highlights how fetters can vary in degrees of protection and the importance of carefully considering any restriction, says Maxwell Ballad at Freeths.
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UK Securitization Reform Opts For Modest Approach, For Now
Recently published consultation papers from the U.K. Prudential Regulation and Financial Conduct Authorities on new securitization rules mainly restate retained EU law, but there are some targeted adjustments being proposed and further divergence is to be expected, say Alix Prentice and Assia Damianova at Cadwalader.