London ExCel appeal victory establishes COVID-19 compensation precedent
The owners of London’s ExCel conference centre have won an appeal brought by insurers over pandemic-related losses which establishes a precedent for policyholders seeking COVID-19 related compensation and highlights the importance of clear and precise policy wording. The Court of Appeal handed down its decision in London International Exhibition Centre Plc v Allianz Insurance Plc […]
London tower block fires focus attention on potential insurance claims
Two tower block fires in London have focused attention on building safety and potential claims under the The Building Safety Act 2022 (BSA) . Building safety issues were brought sharply into focus by the Grenfell tragedy in 2017 which killed 72 people. The blaze spread rapidly, allegedly due to the cladding on the block’s outside walls. A […]
Advanced faces £6.09m fine for failing to protect against cyber-attack
The Information Commissioner’s Office (ICO), the UK’s data protection watchdog , has announced a provisional decision to impose a fine of £6.09M on Advanced Computer Software Group Ltd (Advanced) for its failure to protect the personal information of nearly 83,000 people when it was hit by ransomware attack in 2022. Advanced, an IT service and hosting […]
AM Best rating confirms Lloyd’s world leading position
Lloyd’s, the world’s oldest insurance and reinsurance marketplace, has confirmed its global leadership with its financial strength rating (FSR) upgraded by AM Best to A+ (superior) from A (excellent). Additionally, AM Best has revised the Lloyd’s long term issuer credit rating to ‘AA-’ (superior) with a stable outlook from ‘A+’ (excellent) with a positive outlook. […]
Riots focus attention on Political Violence insurance cover
Businesses and households across the United Kingdom are facing losses of more than £200m following riots, looting and arson attacks, according to the Association of British Insurers (ABI). The UK riots began after three girls were killed in an attack at a Taylor Swift-themed dance class in Southport. Protests have been held across the UK, […]
Government launches new bill to enhance UK cyber-resilience
The British government is to enhance the nation’s cyber-resilience with a new bill which will hand more power to regulators around cybersecurity incidents and mandate reporting for ransomware attacks. The Cyber Security and Resilience Bill was announced in the King’s Speech in response to attacks on the United Kingdom’s digital economy by both cybercriminals and […]
Serco settlement highlights increasing UK shareholder lawsuit actions
Serco Group have settled a landmark High Court case with a group of institutional investors following a sharp drop in the company’s share price. Allianz and Russell Investments were among the investors who brought the claim in the High Court trial which was linked to a 2013 scandal where Serco was accused of overcharging for […]
Deepfake cyber-crime set to become significant threat
Experts are forecasting a worrying rise in incidents of deepfake cyber-crime that has already claimed one high profile UK victim. The engineering group Arup, which has been involved in world-famous buildings such as the Sydney Opera House, lost £19.7m ($25m) in one of the world’s biggest known deepfake scams which used a hyper-realistic video generated […]
Baby Reindeer series triggers £133m law suit against Netflix
The hit Netflix series ‘Baby Reindeer’ has triggered a lawsuit for defamation, negligence and privacy violations. that could significantly affect the way television is made. The series has become the latest high profile legal case for Netflix with Fiona Harvey, from Scotland, filing a £133m ($170m) law suit against Netflix in California, accusing the company […]
Russian cyber gang suspected of ransomware attack on London hospitals
A Russian cyber gang has been blamed fora ransomware cyber-attack which hit major London hospitals forcing a critical incident to be declared and operations cancelled. Emergency patients were diverted to hospitals that had not partnered with Synnovis – a provider of pathology services. Synnovis “was the victim of a ransomware cyberattack”, according to chief executive […]