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Changes to the Third Parties (Rights against Insurers) Act 2010 16/06/2016 New laws allowing a third party to issue proceedings directly against an insurer, removing the need to restore a dissolved company in order to make a claim, will come into force on 1st August.

Changes to the Third Parties (Rights against Insurers) Act 2010

New legislation that will allow a third party to issue proceedings directly against the insurer, removing the need to restore the dissolved company in order to make a claim, will come into force on 1st August.

The Third Parties (Rights against Insurers) Act 2010 as amended by the Insurance Act 2015 and the Third Parties (Rights against Insurers) Regulations 2016 extends to the whole of the UK.

The 2010 Act modernises and simplifies the Third Parties (Rights against Insurers) Act 1930 and the Third Parties (Rights against Insurers) Act (Northern Ireland) 1930. The changes include:

  • Updating the Act to reflect changes in insolvency laws since the 1930s such as voluntary procedures
  • Listing the insolvency and insolvency-type circumstances (including dissolution) in which the 2010 Act may apply to companies
  • Removing the requirement for claimants to restore dissolved companies that have been struck off the register in order to resolve claims against insolvent insured parties.

The new law will apply where a company incurred a liability:

  • and entered a state of insolvency on or after 1st August 2016
  • before 1st August 2016 and the insolvency started on or after 1st August 2016
  • on or after 1st August 2016 and the insolvency started before 1st August 2016.

If both the liability was incurred and the state of insolvency entered before 1st August 2016 the Third Parties (Rights against Insurers) Act 1930 will continue to apply. In these circumstances the company will need to be restored to pursue personal injury claims.

The same rules apply where instead of entering a state of insolvency a company is dissolved under section 1000, 1001 or 1003 of the Companies Act 2006.

 

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