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Insurtech Jargon 101: What does it all mean?

01 October 2017

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"Insurtech" is a nebulous concept broadly referring to innovative technology in the insurance industry. Comments on insurtech are often littered with references to specific computing concepts which individually are pretty straight-forward. However, when used in conjunction with one another with no further explanation, insurtech jargon can sound much more complex than it really is. I explain some of the key terms below.

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欧州M&A最前線 2017年9月

Published on 29 September 2017. By Nigel Collins, Partner, Head of Japan Desk

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夏季休暇が明け、日常に戻ったロンドンの金融街シティーには、さまざまなプロジェクトを進めようという意欲と活気がみなぎっている。

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Publication

The FCA: key themes for 2017/18

Published on 29 September 2017. By Lucy Kerr, Senior Associate

A look at key developments for the FCA in 2017 and looking forward to 2018

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Blog

Bailey: Quality trumps quantity as Tribunal grants taxpayer principle private residence relief

Published on 27 September 2017. By Constantine Christofi, Associate

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In Stephen Bailey v HMRC [2017] UKFTT 658 (TC), the First-tier Tribunal (FTT) granted the taxpayer principle private residence relief, under section 222, Taxation of Chargeable Gains Act 1992 (TCGA), despite having only occupied the property in question for two periods of less than six months.

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Publication

VAT update September 2017

27 September 2017

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In this month’s update we report on the Commission’s evaluation of invoicing rules; revisions to VAT notice 700/50, concerning default surcharge; and details of the consultation on the Making Tax Digital reforms.

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Gulf between legal advice privilege in the UK and Hong Kong is widening

27 September 2017

Jonathan Cary explains the gulf opening up between England and the other major common law jurisdictions such as Hong Kong in relation to legal advice privilege and the pitfalls to be aware of.

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Blog

Luxury fast fashion

Published on 26 September 2017. By Amelia Cave, Associate and Lorcan Treacy, Trainee Solicitor

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The world of high-end fashion has relied on a stable business model for decades; luxury collections are previewed at major fashion events, anticipation builds and then up to six months later products actually go on sale. But it was clear from last week's London Fashion Week that the luxury fashion model is changing as some brands seek to take advantage of consumer demand for fast fashion.

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MiFID II & Inducements

Published on 21 September 2017. By Matthew Watson, Associate

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FCA MiFiD Inducements Consultation Paper

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Blog

Landmark ruling on end of life care

Published on 21 September 2017. By Hannah Land, Associate

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Huntington's patient: Court rules Court application no longer necessary in end of life care where patient's family and doctors are in agreement

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Blog

The costs of surrogacy: a valid and separate head of claim

Published on 20 September 2017. By Emma Kislingbury, Associate

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A claimant has been awarded £74,000 for the costs of a surrogacy arrangement, following a hospital's delay in diagnosing cervical cancer.

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Publication

FCA makes maiden market investigation reference

Published on 20 September 2017. By Lambros Kilaniotis, Partner and Melanie Musgrave, Senior Associate and James Mee, Partner and Alun Marriott, Managing Partner - RPC Consulting

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Blog

Gekko – HMRC's unreasonable conduct leads to costs award against it

Published on 19 September 2017. By Constantine Christofi, Associate

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In Gekko & Company Ltd [2017] UKFTT 586 (TC), the First-tier Tribunal (FTT), in allowing an appeal against assessments to VAT and penalties, awarded the taxpayer its costs as HMRC's conduct had been unreasonable.

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Blog

Swansea City player Bony keeps former agents in play

Published on 14 September 2017. By Joshua Charalambous, Associate

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In a dispute with his agents over secret commissions, Swansea City striker Wilfried Bony has succeeded in opposing a stay in English Court proceedings, which would have been implemented had the Court found he had agreed to arbitrate. The decision is an important reminder that national courts will have jurisdiction to hear a claim if the parties have not agreed (expressly or impliedly) to resolve the dispute using arbitration.

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Blog

Thathiah: HMRC unsuccessful in first senior accounting officer penalty appeal

Published on 13 September 2017. By Michelle Sloane, Senior Associate

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In Kreeson Thathiah v HMRC [2017] UKFTT 0601 (TC), the First-tier Tribunal (FTT) allowed an appeal against penalties which had been assessed on the finance director of a group of companies under the Senior Accounting Officer (SAO) regime, contained in Schedule 46, Finance Act 2009 (FA 2009), as HMRC had failed to establish that he had breached his duty as a SAO.

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Blog

Over the Insured's Dead Body

Published on 13 September 2017. By Tom Toulson, Associate

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One year on from the entry into force of the Third Parties (Rights Against Insurers) Act 2010 and the fun and games are just getting started.

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Blog

Seriously limiting serious harm

Published on 12 September 2017. By Nicola Cain, Partner

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Seriously limiting serious harm

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Blog

Retail sales are bright as summer comes to a close

Published on 12 September 2017. By Henry Priestley, Senior Associate and Jani Ihalainen, Paralegal

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Blog

Introducing our new commercial law briefings for retailers

Published on 11 September 2017. By Alyson Lloyd, Senior Associate

Introducing our new commercial law briefings for retailers

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Publication

Settlement considerations following the Rangers decision

08 September 2017

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Following the Supreme Court’s recent judgment in the Rangers case, many employers who had established employee benefit trusts (EBTs) are facing enforcement notices in respect of income tax and National Insurance contributions.

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Blog

Hickey Plant Hire - Taxpayer successfully challenges HMRC's narrow reading of penalty rules

Published on 07 September 2017. By Robert Waterson, Partner

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In M J Hickey Plant Hire and Contracts Ltd v HMRC [2017] UKUT 308 (TCC), the Upper Tribunal (UT) allowed the taxpayer's appeal and in a carefully considered judgment sets out the correct approach to the penalty rules applicable to 'normal' and 'delayed tax' cases, contained in Schedule 24, Finance Act 2007 (FA 2007).

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Publication

Tax update, September 2017

07 September 2017

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In this month’s update we report on HMRC’s new guidance on asset-based penalties for offshore inaccuracies; the GAAR Advisory Panel’s first published opinion on tax planning involving gold bullion and Spotlight 39 on measures designed to avoid the 2019 EBT loan charge.

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Publication

Corporate tax update, second quarter 2017

05 September 2017

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Welcome to the latest edition of our Corporate Tax Update, written by members of RPC’s tax team and published quarterly.

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Blog

Special relationship

Published on 04 September 2017. By David Wallis, Partner and James Mee, Partner

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David Wallis and Peter Sugden outline what commercial teams need to know about US/UK deals.

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Blog

Vigne - HMRC lose business property relief case

Published on 04 September 2017. By Alexis Armitage, Associate

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In The Estate of Maureen W Vigne (deceased) v HMRC [2017] UKFTT 632 (TC), the First-tier Tribunal (FTT) has determined that the estate of the late Maureen Vigne was entitled to business property relief (BPR), as provided for in section 105, Inheritance Tax Act 1984 (IHTA).

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Blog

Welcoming new red tape

Published on 01 September 2017. By Peter Rudd-Clarke, Legal Director

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The Medical Devices Regulation 2017 is good news for insurers in the life sciences sector. More data on safety and performance will be collected on products before they get to the market

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A level playing Field?

Published on 31 August 2017. By David Allinson, Senior Associate

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Frank Field's Work and Pensions Select Committee is intending to review the impartiality of defined benefit pension transfer advice. What could this mean for the advisory industry and its PI insurers?

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Blog

A level playing Field?

Published on 31 August 2017. By David Allinson, Senior Associate

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Frank Field's Work and Pensions Select Committee is intending to review the impartiality of defined benefit pension transfer advice. What could this mean for the advisory industry and its PI insurers?

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Blog

The Mayor of London's Affordable Housing SPG: 10 things you need to know (part 2)

30 August 2017

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This supplementary planning guidance, issued this month, builds on the Mayor's long-term aim for half of all new homes in London to be affordable (as defined in the London Plan). More will no doubt be heard in the revised London Plan when that emerges, but in the meantime here are some headlines which we hope help you cut through the SPG.

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Blog

Amazon and the $200billion Internet Economy in South East Asia

Published on 30 August 2017. By Sophie Tuson, Associate

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Amazon's launch in Singapore last month marks the internet giant's official entry into South East Asia. Sophie Tuson explores why the region, and Singapore in particular, provides such fertile ground for e-commerce businesses in search of growth.

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Publication

VAT update August 2017

Published on 30 August 2017. By Adam Craggs, Partner

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In this month’s update we report on updated guidance from HMRC on distance selling, the EU (Withdrawal Bill) and the revised place of supply rules for B2C telecommunications.

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SIPP complaints to FOS still on the up

Published on 30 August 2017. By Rachel Ford, Associate

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Complaints to the FOS about SIPPs continue to rise, having sky rocketed in the first quarter of 2017.

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Blog

欧州M&A最前線 2017年8月

Published on 25 August 2017. By Nigel Collins, Partner, Head of Japan Desk

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シンガポール、ハノイ、香港、東京を巡る出張から帰ってきた。クライアントや知人などいろんな人に会ったのだが、会えなかった人がいるのもいつものこと。こんな調子なので、さっそく次の出張の計画を立てた方がいいだろうか。

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Blog

The Mayor of London's Affordable Housing SPG: 10 things you need to know (part 1)

24 August 2017

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This supplementary planning guidance, issued this month, builds on the Mayor's long-term aim for half of all new homes in London to be affordable (as defined in the London Plan). More will no doubt be heard in the revised London Plan when that emerges, but in the meantime here are some headlines which we hope help you cut through the SPG.

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Blog

Show me the money – turning liens into cash

24 August 2017

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Most charterparties give owners the right to lien cargo for unpaid hire or freight. However, it may be necessary to sell the cargo in order to obtain payment. The English Commercial Court has recently considered the circumstances in which it would be prepared to order the sale of cargo held under a shipowners' lien.

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Edgar Davids wins League of Legends image rights claim

Published on 23 August 2017. By Joshua Charalambous, Associate

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Dutch football icon Edgar Davids has succeeded in suing Riot Games – makers of the world's biggest video game and eSports phenomenon, League of Legends.

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BPP – Tribunal correct to strike out HMRC's case for failure to comply with Rules and Directions

Published on 23 August 2017. By Constantine Christofi, Associate

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In BPP Holdings Ltd v HMRC [2017] UKSC 55, the Supreme Court has confirmed that the First-tier Tribunal (FTT) was justified in directing that HMRC be barred from taking further part in the proceedings for failure to adhere to the Tribunal’s Rules and Directions.

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Blog

Appification of Retail and Data Protection

Published on 22 August 2017. By Nicola Cain, Partner and Jani Ihalainen, Paralegal

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The rise in online retail is seen by many as one of the key causes of the decline in footfall on the UK's high streets in recent years but the high street has been fighting back with its own innovative use of technology to help get more shoppers back into physical stores.

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Publication

Customs and excise quarterly update, August 2017

Published on 22 August 2017. By Adam Craggs, Partner

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In this update we report on the implementation of the Fulfillment House Due Diligence Scheme, the National Audit Office's report on the new Customs Declaration Service and the future excise duty rate changes to cooking wine and other cooking alcohol.

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PSR issues public censure on payment system operator

Published on 15 August 2017. By Charles Buckworth, Partner

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The Payment Systems Regulator (PSR) has recently announced its first enforcement outcome, as it issued a public censure against a payment system operator.

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Wealth and trusts quarterly digest, August 2017

15 August 2017

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Our quarterly digest provides up to date commentary and analysis on key sector developments.

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Challenge to SRA intervention rejected

Published on 11 August 2017. By Nick Bird, Partner and Laura Stocks, Senior Associate

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Suspicion of wrongdoing in law firms gives rise to difficult judgments.

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Signed, sealed, delivered

Published on 11 August 2017. By Matthew Griffith, Partner

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Matthew Griffith shares some strategies for delivering successful (re)insurance M&A – before and after the ink has dried

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What a drag

Published on 11 August 2017. By James Mee, Partner and David Wallis, Partner

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James Mee and David Wallis outline some of the issues involved in selling companies with a large employee shareholder base

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Eastern Power – Tribunal orders HMRC to close its enquiries despite outstanding information notices

Published on 10 August 2017. By Adam Craggs, Partner

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In Eastern Power Networks Plc and others v HMRC [2017] UKFTT 494 (TC), the First-tier Tribunal (FTT) ordered HMRC to issue closure notices even though there were a number of outstanding information notices.

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Avoid getting in a spin: Lessons for managing future Registered Designs cases - Spin Master Limited v PMS International Group [2017] EWHC 1477

Published on 09 August 2017. By Georgia Davis, Legal Director and Jeremy Drew, Partner

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It is relatively rare for a case management conference ("CMC") to be of sufficient interest to be the subject of an article. However, these proceedings raised general issues of how to achieve short, cost-effective hearings where one or perhaps both parties were preparing for a much longer trial.

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Could 'clickstream data' put firms' websites in the spotlight?

Published on 08 August 2017. By Rachael Ellis, Associate

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Rachael Ellis considers the FCA's use of clickstream data to examine customers' engagement with charges information.

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Government sets out details of new data protection legislation

Published on 07 August 2017. By Nicola Cain, Partner and Alex Wilson, Associate

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The Government has today published a Statement of Intent setting out details of the forthcoming Data Protection Bill. Matt Hancock MP, the Digital Minister, says that the reforms will "bring our data protection law up to date" whilst transferring the General Data Protection Regulation ('GDPR') into domestic law. The text of the Data Protection Bill is expected in early September.

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Lights, camera, legal action

Published on 07 August 2017. By Charlotte Thompson, Associate

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The law has proven a popular subject of television programmes for decades. Charlotte Thompson explores whether the drama of real life trials may soon reach the small screen.

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No duty of care owed when conducting a redress procedure

Published on 04 August 2017. By Rachael Healey, Partner

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The Court of Appeal has found that banks did not owe a duty of care when conducting a past business review (PBR) of previous sales of interest rate hedging products. Although the decision is in the context of the review procedure agreed between the FCA and banks, the decision is likely to apply to all PBRs, except formal 'consumer redress schemes' under s404 FSMA.

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Barton succeeds in reducing betting ban

Published on 04 August 2017. By Joshua Charalambous, Associate

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Joey Barton has succeeded in reducing the ban imposed on him by the FA Commission following breaches of FA Rules concerning betting – but he's still banned until 1 June 2018

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