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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 19, 2025
Lords To Probe Inheritance Tax Reforms For Pensions

The government's controversial plan to bring pensions wealth within the scope of inheritance tax will be examined by a House of Lords committee as part of a wider review of new legislation.
September 19, 2025
UK Litigation Roundup: Here's What You Missed In London

This past week in London has seen brokerage firm ADS Securities file a fresh claim against German entrepreneur Lars Windhorst, AmTrust and Endurance Worldwide Insurance tackle an ongoing 拢50 million ($67 million) dispute over a failed litigation and insurance scheme, and Howard Kennedy LLP sue the son of a diamond tycoon over a 拢3.1 million legal bill.聽
September 19, 2025
Motor Policyholders To Receive 拢200M After FCA Steps In

More than 270,000 motorists will receive compensation from their insurers, the Financial Conduct Authority said Friday, after the watchdog stepped in over poor claims handling practices by the sector.
September 19, 2025
DLA Piper Leads 拢113M Aviva Department Store Pension Deals

Insurance giant Aviva said Friday it has completed pension deals totaling 拢113 million ($152.5 million) for two schemes sponsored by British department store Fenwick Ltd., in a deal guided by DLA Piper.
September 19, 2025
AmTrust, Novitas Settle 拢56M Litigation Funding Dispute

A legal loans company has settled its 拢56 million ($76 million) claim against AmTrust over who should cover the costs of a failed litigation funding scheme, a lawyer for the insurance giant told a court Friday.
September 19, 2025
Howden Expands US Reach With Gravitas Insurance Buy

Howden Group Holdings Ltd. has agreed to acquire Gravitas Insurance, a U.S.-based contingency insurance brokerage for music, sport and live events.
September 19, 2025
Gov't Pensions Unit Puts Dashboards At Heart Of 3-Year Plan

The U.K. government-sponsored body tasked with delivering the long-awaited pensions dashboards program designed to allow people to track their retirement savings has said the project is central to its strategy over the next three years.
September 19, 2025
Specialty Insurer Fortegra Joins UK Trade Body ABI

Fortegra Insurance UK has signed up to Association of British Insurers, saying joining the trade body marks a significant step in its commitment to the market.
September 18, 2025
Women 'Hit Hard' By State Pension Age Increases

Historical increases in the state pension age have had a disproportionate adverse effect on women in their late 50s who are not working, the Institute for Fiscal Studies has said.
September 18, 2025
Charity Pension Plans 'Closer Than Ever' To Buyouts

The combined reserves of the 40 biggest charities in England and Wales that sponsor defined benefit retirement savings plans has dropped slightly, but many pension programs in the sector are now "closer than ever" to buyout, according to Hymans Robertson.
September 18, 2025
Watchdog Weighing Rules Change On Offshore Reinsurance

The U.K.'s financial watchdog said Thursday it is considering changes to regulation because it is worried about the threat posed by offshore risk transfer deals used by life insurers to meet surging demand from the pensions industry.
September 18, 2025
Gov't Told To Remove Barriers To UK Pension Investment

The government should lower the barriers to investment faced by the U.K.'s 拢3.2 trillion ($4.4 trillion) pensions sector if it is to secure additional funding for the economy, a trade body has said.
September 18, 2025
UK Gov't Urged To Clarify Climate Plans For Pension Schemes

The government must make its proposals for large companies and financial institutions to publish strategies for how they intend to align their businesses with global climate targets聽"clear, concise and relevant for pension schemes," a consultancy has said.
September 18, 2025
Allied World Denies Liability In 拢3M 'Ponzi Scheme' Dispute

An insurer has argued that it does not have to indemnify the liquidators of the business聽behind an investment plan for more than 拢3 million ($4 million), arguing there is no evidence that the investment was a Ponzi scheme.
September 17, 2025
Generali Denies 拢2M Claim Over Astellas Worker's Alzheimer's

Generali Group has denied unreasonably refusing to pay out almost 拢2 million ($2.7 million) to Astellas on an income protection policy for a staffer with Alzheimer's disease, arguing that the employee did not become unable to work before the policy ended.
September 17, 2025
FCA Unveils Tough Proposed Rules For Crypto Firms

The Financial Conduct Authority set out Monday its proposed crypto-assets regulatory regime, with some wider reach than its rules for other sectors like banking or insurance to address technological exposures.
September 17, 2025
FCA Sets Out Plan For Insurance Protection Market Review

The Financial Conduct Authority has said it is on track to publish the first stage of its investigation into the insurance protection market by the end of the year.
September 17, 2025
Watchdog Floats New Enforcement Plan Amid Oversight Shift

Britian's retirement savings watchdog has said it plans to become a more proactive regulator through a new strategy it hopes will make enforcement "smarter, more strategic and more impactful."
September 17, 2025
Pensions Watchdog Sharpens Focus On Professional Trustees

The Pensions Regulator said Wednesday that it will continue with its plans to strengthen oversight of the professional trustee sector, after it emerged that 80% of the market was controlled by just four providers.
September 17, 2025
Workers Cutting Pension Contributions To Make Ends Meet

More than half of British workers have at least considered reducing their pension payments in the past year to help pay bills, according to research from a retirement company published Wednesday.
September 17, 2025
Spanish Online Bank Can't Void Insurance Brokerage's EU TM

A Spanish online bank has lost its attempt to void an insurance brokerage's "Insurance Advisors Associated" trademark, failing to convince European Union officials that there is a risk of confusion with its earlier registrations.
September 17, 2025
Dentons-Led REIT To Close, Sell Portfolio For 拢646M

PRS said Wednesday that it has agreed to sell its property portfolio to a vehicle controlled by Waypoint Asset Management Ltd. for 拢646.2 million ($882 million) and then liquidate the real estate investment trust.
September 16, 2025
BoE Set To Ease Rules For Foreign Insurers In UK

The regulatory arm of the Bank of England set out proposals on Tuesday to raise the liability threshold for foreign-based insurance groups that operate subsidiaries in the U.K. and reduce some reporting requirements.
September 16, 2025
Insurer Can't Duck $6M Bond Payout Over Ghana Power Plant

A London court ordered a Ghanaian insurance company on Tuesday to pay a subsidiary of Greek industrial conglomerate Metlen almost $6.3 million for wrongly refusing to pay up under a bond the insurer claimed was obtained by fraud.
September 16, 2025
Pension Pot Withdrawals Surged Nearly 36%, FCA Says

Savers in Britain withdrew 拢70.9 million ($96.8 million) from their pension pots in the financial year that ended in March, data published by the Financial Conduct Authority on Tuesday shows, amid suggested concern over government plans to amend tax rules linked to retirement pots.

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 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.
A Shifting Landscape Of Greater Scrutiny After Data Breaches

Recent Information Commissioner's Office fines for personal data breaches and a Home Office consultation signal a shift in the U.K. regulatory landscape, and with an increase in mass actions and resulting exposure, organizations should prepare for potential third-party claims from those incurring consequential losses, say lawyers at Atheria.