The Third Parties (Rights Against Insurers) Act 2010 (“the 2010 Act”) is to come into force on 1st August 2016. This replaces the now outdated Third Parties (Rights Against Insurers) Act 1930 (“The 1930 Act”).
Why is this important?
In the 1930 Act there were many issues which made the law quite difficult to interpret and expensive for people to fund a Claim against an insurer of insolvent individuals or corporate Defendants.
For example, parties who wish to make a Court Claim under the 1930 Act need to establish the existence and the amount of the insured’s liability. Unfortunately, this meant that several sets of proceedings had to be issued and therefore people with little money to finance Court proceedings were in an unequal position in relation to their bargaining power.
The 2010 Act provides a clear procedure to establish liability and the situations where a Claim can be made against an individual or company are set out.
Claims against Dissolved Companies?
The 1930 Act requires you to restore the Dissolved Company back on to the Register of Companies before you make a Court Claim. This process has been criticised as being time consuming and costly to fund.
Under the 2010 Act, you can now make a Court Claim directly against a Dissolved Company because under this new legislation the above issue has been rectified.
How can we help?
Please give us a call on 0116 255 1811 if you require legal advice or assistance in relation to:-
- Complying with these changes in law.
- Making a Claim against an insolvent Defendant or Corporate Body.
- Making a Claim against a company not based in the United Kingdom.
- If you require legal advice and assistance for other issues you are faced with.
