United Kingdom: Insurance

The FCA's second Enforcement Watch reveals a shift from initial forbearance to active scrutiny of Consumer Duty compliance, with 11 open investigations now underway. As the regulatory framework matures, firms face increasingly intensive supervisory intervention through VREQs and OIREQs, with fair value assessments emerging as a particular enforcement focus alongside product governance and vulnerable customer treatment.

UK insurance regulation continues to evolve in 2026, with the PRA and FCA balancing a range of priorities. This article provides a comprehensive table of regulatory initiatives that are currently engaging insurers the most, helping compliance teams manage the evolving regulatory landscape.

The High Court has ruled on a major insurance dispute involving Nord Stream AG's claim for approximately €570 million in damages to its Baltic Sea pipelines following explosions in September 2022. The judgment addresses critical questions about war exclusions in insurance policies, causation tests for indirect connection to war, and whether damage caused by state or sub-state actors falls within policy exclusions.

In the Russian Aircraft Litigation – Operator Policy Claims [2026] EWHC 1134, the Commercial Court ordered that contribution claims totalling approximately USD 350 million...

Industry leaders convened in London to examine how insurance is transforming from a reactive risk transfer mechanism into a proactive resilience strategy for sustainable finance.

Trustees and employers should assess how the Act will affect their scheme and start preparations now. While the government's indicative timeline suggests that most of the reforms will not come into force immediately...