Third Parties (Rights Against Insurers) Act 2010
Third Parties (Rights Against Insurers) Act 2010

The following Restructuring & Insolvency practice note provides comprehensive and up to date legal information covering:

  • Third Parties (Rights Against Insurers) Act 2010
  • Brexit impact
  • Delayed implementation of the 2010 Act
  • Position at common law
  • Shortcomings of the 1930 Act
  • Key changes under the 2010 Act
  • Which insolvency situations does it apply to?
  • Establishing liability
  • Effect of the 2010 Act—automatic transfer
  • Defences available to the insurer
  • More...

IP COMPLETION DAY: 11pm (GMT) on 31 December 2020 marks the end of the Brexit transition/implementation period entered into following the UK’s withdrawal from the EU. At this point in time (referred to in UK law as ‘IP completion day’), key transitional arrangements come to an end and significant changes begin to take effect across the UK’s legal regime. This document contains guidance on subjects impacted by these changes. Before continuing your research, see Practice Note: What does IP completion day mean for R&I?

This Practice Note considers the key provisions of the Third Parties (Rights Against Insurers) Act 2010 (the 2010 Act), which replaced the Third Parties (Rights Against Insurers) Act 1930 (the 1930 Act) from 1 August 2016. The provisions may assist where the insured has become insolvent as it allows a third party which has suffered loss to make a claim against another party’s insurer directly in certain cases (the claimant is called the third party as they are not a party to the insurance contract). This is a huge advantage to the third party who may potentially recover 100% of their claim for the deep pockets of the insurer, rather than having to claim in the insolvency of the insured and rank as an unsecured creditor where they may only recover a fraction of the original claim. In essence, the legislation

Related documents:

Popular documents