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Now in force - Third Parties (Rights Against Insurers) Act 2010

By Jonathan Drake, James Robins and Louise Ferrelly-Smith (Bond Dickinson LLP).
14 July 2016

The Third Parties (Rights Against Insurers) Act 2010 finally comes into force today 1 August 2016.

The 2010 Act is intended to address some of the shortcomings of the Third Parties (Rights against Insurers) Act 1930 and will make it easier for third party claimants to bring claims against an insurer when an insured has become insolvent.

The 2010 Act brings about key changes and there are a number of pros and cons for insurers handling these claims. We have been analysing the changes in a three-part series of briefings over the last fortnight. You can revisit any of those briefings using the links below.

Part 1 gives you a brief overview of the key sections of the Act and gives practical tips on the new disclosure requirement to get you on top of the basics today. 

Article Source

Permission has been granted for this article to be reproduced on LMA website by the authors, Jonathan Drake, James Robins and Louise Farrelly-Smith from Bond Dickinson LLP.

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