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Generative AI: A global guide to key IP considerations
Artificial intelligence (AI) raises many intellectual property (IP) issues.
United Kingdom | Publication | November 2023
On November 6, 2023, the trustees of the £590m Sears Retail Pension Scheme reached an agreement to enter into the UK’s first ever superfund transaction with Clara Pensions. A superfund is an arrangement set up to consolidate DB schemes’ liabilities, in which the link to the sponsoring employer is severed following transfer.
The deal, which has been cleared by the Regulator, will see Clara make an additional £30m of ring-fenced funding to support the 9,600-member scheme. The scheme’s assets will be used to generate returns to pay pensions, with the aim of securing a full buy-out deal with an insurer within five to ten years.
This long-awaited first transaction is seen as significant for both Clara and the pensions industry as a whole. It has the potential to be the catalyst for transformative change in the pensions industry, providing a “safe bridge” bringing the insurance market into reach for more schemes and their members.
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Artificial intelligence (AI) raises many intellectual property (IP) issues.
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The UK remains a world leader in offshore wind, accounting for roughly 20 percent of global offshore wind capacity, with 11.3 GW operational. It is forecast that installed capacity will rise to 19.5 GW by mid 2020s.
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Since the inception of commercial aviation, the industry has been a target for hostile entities seeking to disrupt or control flight operations. Insurance carriers and underwriters, in response, have been tirelessly working to understand and mitigate these risks, providing a safety net for the aviation industry.
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