January 21, 2022
Some of the world’s biggest insurers are bracing as a second wave of multi-million-pound lawsuits, brought by struggling British pubs, restaurants and bakery chains over lockdown losses, starts hitting London’s courts next week. Zurich, MS Amlin, Liberty Mutual, Allianz and …
January 20, 2022
Britain’s financial watchdog said on Wednesday it planned to curb the marketing of cryptoassets and other high-risk investments, a move that comes amid a boom in crypto ads and endorsements from celebrities. The changes would strengthen risk warnings on ads …
October 29, 2021
The Bank of England will crack down from next year on banks and insurers that do not hold enough capital to cover risks from climate change, while also considering bespoke safety buffers. Climate-related financial risks are partially captured by existing …
October 26, 2021
Britain’s financial watchdog said on Tuesday it won’t stop insurer LV= from proceeding with the disputed sale of its pensions and life insurance business to U.S. private equity company Bain Capital. LV=, founded in 1843 and formerly known as Liverpool …
October 11, 2021
New rules will be needed to deal with operational risks from banks relying on outsourced “cloud” computing from Amazon, Google, Microsoft and others for providing services to customers, the Bank of England said on Friday. “Regulated firms will continue to …
September 16, 2021
Small companies in Britain, which demanded that their insurers cover claims for losses accrued during the COVID-19 pandemic, have received more than one billion pounds ($1.4 billion) in full and interim business interruption payouts to date. Businesses ranging from restaurants …
August 25, 2021
LONDON – Insurers in Britain that are not ready to implement tougher “value for money” rules on car and home policies could face disciplinary action, the Financial Conduct Authority said on Wednesday. The FCA found in May that loyal customers …
August 25, 2021
COVID-19 has led to the disruption of millions of businesses around the UK, particularly for SMEs who have been beset by an average of £130,000 in late payments. However, the Supreme Court ruling in January provided business owners with much …
July 9, 2021
Lloyds Banking Group Plc’s insurance unit was fined 90.7 million pounds ($125 million) by the UK Financial Conduct Authority for failing to make sure language in millions of home insurance policies was clear. The FCA said the insurance division sent …
June 30, 2021
Google will clamp down on financial fraud on its platform in Britain, saying on Wednesday that all financial services will need to be verified by the regulator before they can advertise. Britain’s financial watchdog issued 1,200 consumer warnings last year …