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OFT competition investigation results in formal commitments from motor insurers to limit data exchange

  • Edwards Wildman Palmer LLP
  • -
  • United Kingdom
  • -
  • January 20 2011

The UK Office of Fair Trading (OFT) announced on 13 January 2011 that seven insurance companies (Ageas Insurance Limited (formally Fortis Insurance Limited), Aviva plc, AXA Insurance UK plc, Liverpool Victoria Friendly Society, RBS Insurance Group Limited, Royal Sun Alliance and Zurich Insurance plc), and two IT software and service providers (Experian Limited and SSP Limited) have offered formal commitments to limit the type of information shared through a specialist market analysis tool

High Court considers whether advance payment guarantees issued by insurance company were performance bonds or contracts of suretyship

  • Edwards Wildman Palmer LLP
  • -
  • United Kingdom
  • -
  • January 19 2011

In Meritz Fire & Insurance Co Ltd v (1) Jan De Nul NV (2) Codralux SA 2010 EWHC 3362 (Comm), the High Court ruled that advance payment guarantees (APGs) issued by the claimant insurance company to the defendants, guaranteeing the repayment of payments made by the defendants under three shipbuilding contracts (the Contracts), were performance bonds or demand guarantees on which the claimant was liable without regard to the Contracts

Equitable Life (Payment) Act 2010 receives Royal Assent

  • Edwards Wildman Palmer LLP
  • -
  • United Kingdom
  • -
  • January 7 2011

We have previously reported here on the Equitable Life (Payment) Bill's progress through the UK Parliament

Law Commission publishes summary of responses to Issues Paper 7

  • Edwards Wildman Palmer LLP
  • -
  • United Kingdom
  • -
  • January 5 2011

The Law Commission has published the responses it has received to Issues Paper 7: The Insured's Post-Contractual Duty of Good Faith

Chief Executive of the FSA gives update on UK regulatory reform

  • Edwards Wildman Palmer LLP
  • -
  • United Kingdom
  • -
  • January 4 2011

We have reported previously on proposals to establish a 'twin peaks' regulatory approach in the UK

FSA releases updated Remuneration Code

  • Edwards Wildman Palmer LLP
  • -
  • United Kingdom
  • -
  • December 23 2010

On 17 December 2010, the FSA published an updated Remuneration Code to account for the changes required by the EU Capital Requirements Directive (CRD 3

The Financial Services Authority fines Scottish Equitable plc £2.8 million

  • Edwards Wildman Palmer LLP
  • -
  • United Kingdom
  • -
  • December 23 2010

On 15 December 2010 the Financial Services Authority (FSA) issued a final notice informing Scottish Equitable plc of the £2.8 million financial penalty levied on it for breaches of FSA Principle 3 that occurred between 2002 and 2010

Lloyd's announces new strategy for 2011

  • Edwards Wildman Palmer LLP
  • -
  • United Kingdom
  • -
  • December 21 2010

On 6 December 2010, Lloyd's published its strategy for 2011 with a strong emphasis on intensifying its regulatory function

High Court approves scheme of arrangement for German companies

  • Edwards Wildman Palmer LLP
  • -
  • Germany, United Kingdom
  • -
  • December 21 2010

On 14 December 2010 the English Court sanctioned four connected schemes of arrangement for German companies in the Tele Columbus group

OFT to launch market study into private healthcare

  • Edwards Wildman Palmer LLP
  • -
  • United Kingdom
  • -
  • December 21 2010

On 14 December 2010, the UK's Office of Fair Trading (OFT) announced that it is to undertake a study of competition in the UK private healthcare market

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