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Insurance UK
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April 30, 2025
Gov't To Push Through Collective Pension Rules In Autumn
The U.K. government said it plans to introduce new regulation in the latter half of the year to allow the introduction of new forms of collective pension plans.
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April 30, 2025
Clyde & Co. Adds Cross-Border Insurance Pro From Brazil
Clyde & Co. LLP has hired a corporate insurance expert as a partner in London, as the firm looks to strengthen its access to the "fast-evolving" and complex Latin American market.
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April 29, 2025
Solicitor Banned For Misleading Clients Over Failed PI Claims
A disciplinary panel has struck off a solicitor after he confessed that he told clients that their personal injury claims had succeeded when they had in fact failed.
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April 29, 2025
FCA Proposes Live AI Testing Service For Firms
The City watchdog proposed on Tuesday a testing service for companies as they check the readiness of their new artificial intelligence tools, a program it believes can help it to better understand the impact of the technology on markets.
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April 29, 2025
Burness Paull Guides £7.5M Pension Deal For Fuel Biz
Aviva PLC has bought out £7.5 million ($10 million) of the pension arrangement liabilities of Gleaner Ltd., advisers said Tuesday, in a deal steered by law firm Burness Paull LLP.
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April 29, 2025
Pensions Watchdog Issues Covenant Warning Amid Tariffs
The U.K.'s retirement savings watchdog warned pension schemes on Tuesday to be mindful of the impact of global trade tariffs as it said it had found that more than half have a funding surplus.
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April 29, 2025
UK Treasury Appoints 4 New FCA Board Members
HM Treasury said Tuesday it has appointed four new members to the board of the Financial Conduct Authority.
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April 29, 2025
FCA Set To Get Enforcement Boost From New Fraud Offense
The new "failure to prevent" fraud offense that comes into force in September will indirectly boost the Financial Conduct Authority's opportunities for enforcement against corporate senior managers, countering its recent retreat from plans to "name and shame" companies it is investigating, lawyers say.Â
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April 28, 2025
Hogan Lovells Leads Royal London's College Pension Buy-In
The College of Law's retirement scheme has agreed to an £85 million ($114 million) buy-in with Royal London, the U.K.'s largest mutual life, pensions and investment company announced Monday.
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April 28, 2025
Watchdog Warns Of Significant Errors In Digital Reporting
The accounting watchdog warned Monday that some companies listed on the London Stock Exchange are making significant errors in their digital annual reports through incorrect tagging.
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April 28, 2025
Gov't Urged To Act On Critical Pension Switching Delays
The government must step in to mandate faster retirement saving transfers, a pensions provider warned Monday, saying that in some cases customers have been left waiting three years for the process to complete.
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April 28, 2025
Compensation Program Declares Pensions Adviser In Default
A pensions adviser has been declared in default after receiving five claims against it, the Financial Services Compensation Scheme confirmed Monday.
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April 28, 2025
Italy's Mediobanca Offers €6.3B For Rival Banca Generali
Italian investment bank Mediobanca SpA said Monday that it plans to buy a domestic rival, Banca Generali SpA, for €6.3 billion ($7.1 billion), heating up consolidation in the country's banking sector.
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April 25, 2025
UK Law, Accounting Bodies Queried On Poor SAR Records
The anti-money laundering unit of the Financial Conduct Authority has told legal and accounting professional bodies to justify their failure to check the quality of suspicious activity reports by their member firms.
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April 25, 2025
UK Litigation Roundup: Here's What You Missed In London
This past week in London has seen pub operator Stonegate sue insurance broker Marsh, a human rights lawyer sued for defamation by Russian businessman Ovik Mkrtchyan, and British toy-maker The Character Group reignite an employment dispute with a former finance director. Here, Law360 looks at these and other new claims in the U.K.
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April 25, 2025
Gov't Repaid £1.4B In Pension 'Overtaxation' Since 2015
The U.K. government was forced to pay back £44 million ($58.6 million) in the first quarter to people who have been charged too much tax on pension withdrawals, bringing the total repaid to date to £1.4 billion.
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April 25, 2025
Aegon Defeats Worker's Contract Claim After Work Transfer
Aegon has beaten an unfair dismissal claim brought by a former Nationwide employee who resigned after his job transferred to the insurer, arguing that changes to his work conditions left him no choice but to quit.
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April 25, 2025
Gov't Pays Out £805M Over Historical State Pension Shortfalls
The government has said that the amount it has paid out so far in state pension shortfalls has risen to £804.7 million ($1.1 billion), in what experts describe as a scandal that has shaken public confidence in the benefits system.
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April 24, 2025
Ardonagh Group Acquires Swiss Broker SRB Assekuranz
The Ardonagh Group, a British insurance broker, said Thursday that it has acquired Zurich-based SRB Assekuranz Broker AG in a move to expand its MDS Group division.
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April 24, 2025
Pensions Watchdog Admits Lessons On Superfund Approvals
The Pensions Regulator admitted on Thursday that it could have done better in its approval process for new superfunds, and has vowed to better support innovation in the market.
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April 24, 2025
FCA To Simplify Capital Rules For Investment Firms
The Financial Conduct Authority set out proposals on Thursday to simplify rules on the types of funds that investment firms must hold to cover their losses, as the watchdog seeks to support U.K. growth after Brexit.
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April 24, 2025
Walker Morris Steers £28M Pension Deal For Metals Trader
A U.K. stainless steel and alloy metal trader's pension plan has agreed a £28 million ($37.3 million) buy-in with Just Group, the financial services firm said Thursday, securing the benefits of almost 100 deferred members and about 80 retirees.
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April 24, 2025
Gov't Floats Fix For Spiraling Number Of Small Pension Pots
The U.K. government unveiled plans on Thursday to tackle the growing number of small forgotten pension pots, in a move that could boost savings for workers and save the retirement industry hundreds of million of pounds.
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April 23, 2025
Insurance Group JMG Buys 3 UK Brokers To Boost Presence
Insurance Group JMG Group said Wednesday that it has acquired three British brokers to integrate them with three of its own subsidiaries in a bid to strengthen its presence in the country.
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April 23, 2025
Pension Watchdog Clarifies Rules On Superfund Deals
The U.K. retirement savings watchdog said Wednesday that it wants to smooth out "friction points" that may be holding back further transactions in the burgeoning pensions superfund market.
Expert Analysis
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Creditors Welcome UK Supreme Court's Reflective Loss Decision
The U.K. Supreme Court's recent Sevilleja v. Marex decision benefits creditors and other stakeholders by excluding their claims from the reflective loss principle, which precludes third-party complaints that merely reflect company loss, say Robert Fidoe and Jack Moulder at Watson Farley.
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How Courts Are Encouraging Mediation In England And Wales
As the judiciary braces for widespread pandemic-driven contractual disputes, courts in England and Wales are showing enthusiastic support for mediation, both when determining the implications of a party's refusal to mediate and when assessing whether normal restrictions on the use of mediation-derived information apply, says Leah Alpren-Waterman at Watson Farley.
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Opinion
EU Class Action Policy Guided By Wrong Measure Of Success
The political agreement obtained last month on the first European Union-wide rules on collective redress illustrates the fact that the main goal of the authorities is to increase the number of class action claims rather than focus on the application of standard civil liability principles, says Sylvie Gallage-Alwis at Signature Litigation.
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An Attractive Regime For Governing Jurisdiction Post-Brexit
As indicated by the U.K.'s recent application to join the Lugano Convention, this is an "oven-ready" option for the U.K. for governing questions of jurisdiction and the enforcement of judgments with European Union countries after Brexit — but not without important differences from the current regime, say attorneys at Latham.
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Reinsurance Implications Of COVID-19 Biz Interruption Laws
In light of legislative and public pressure in the U.S. and U.K. on insurers to cover business interruption losses related to COVID-19, reinsurers will face new questions regarding their obligation to cover claim payments, say Robin Dusek at Saul Ewing and Susie Wakefield at Shoosmiths.
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UK Appellate Rulings Clarify Arbitral Choice Of Law
Two recent U.K. Court of Appeal decisions have changed the operation of the choice-of-law test for arbitration — a resolution as significant as changing the test itself because it affects the implied choices of the contracting parties, say attorneys at Squire Patton.
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Post-Pandemic Litigation To Expect In England And Wales
Globally, we are already starting to see insolvency-related claims and a number of insurance, breach of ‎contract, employment and securities class actions across numerous sectors. These and other claims will likely increase for U.K. businesses, say Tracey Dovaston and Fiona Huntriss at Boies Schiller.
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UK Lawyers Can Adapt Due Diligence To Screen New Clients
As COVID-19-related fraud gains pace, U.K.-based practitioners should help combat money laundering by using alternative methods to verify that new clients are who they say they are, says Christopher Convey, a barrister at 33 Chancery Lane and chair of the Bar Council's Money Laundering Working Group.
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A UK Business View Of COVID-19's Economic Fallout
Covington attorneys Alex Leitch and Harry Denlegh-Maxwell provide a bird's-eye view of how U.K. businesses will navigate the legal and economic aftermath of the pandemic, including discussion of where litigation funding, class actions, insurance disputes and force majeure fit it.
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Remote Depositions Bring Ethics Considerations For Lawyers
Utilizing virtual litigation technologies and participating in remote depositions require attorneys to beware of inadvertently violating their ethical obligations, including the principal duty to provide competent representation, say attorneys at Troutman Sanders.
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Time For Presumptive Virtual Mediation In The UK
While the COVID-19 outbreak is a real-time test of the U.K. justice system’s adaptability and innovation, it is also an opportunity to deliver alternative dispute resolution through virtual technology — and there are two ways in which this could be achieved, says Suzanne Rab at Serle Court.
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UK 'Property' Classification Boosts Confidence In Bitcoin
In AA v. Persons Unknown, the English High Court classified bitcoins as property that can be the subject of proprietary injunctions, indicating the slow but growing acceptance of virtual currencies within the U.K., say Steven De Lara and Colin Grech at Signature Litigation.
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3 EU And UK Data Protection Tips During COVID-19
Though EU and U.K. data protection laws should not impede the fight against COVID-19, companies must continue to protect individuals' data, and the challenges of managing a remote workforce and the desire for information about the virus’s impact have significant implications for that responsibility, say attorneys at Debevoise.
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Novolex Case Brings Lessons On R&W Insurance
A New York state court dispute between Novolex and a few of its insurers concerning coverage under a representations and warranties policy for a $267 million loss offers a rare glimpse into how a court might interpret acquisition agreements and insurance policy provisions, say attorneys at Hunton.
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How Proposed EU Class Action Directive Could Affect Insurers
Insurers should beware the explosive potential of the EU's proposed directive providing for cross-border class actions and third-party funding for such actions, although it also bears strict requirements that will limit the number of cases, say Emmanuèle Lutfalla and Simon Fitzpatrick at Signature Litigation.