Third Parties (Rights against Insurers) Act 2010
Act of ParliamentThis bill passed all stages in both Houses and received Royal Assent.
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Long title
To make provision about the rights of third parties against insurers of liabilities to third parties in the case where the insured is insolvent, and in certain other cases.
Summary
The purpose of the Third Parties (Rights Against Insurers) Bill is to amend existing legislation governing the relationship between insurers and claimants, with specific regard to “third parties”, to make it easier and less expensive to claim compensation from insolvent defendants. Current legislation dictates that claimants must establish an insolvent defendant’s liability before bringing a separate claim against their insurer. However, the Bill would enable claimants to sue the insolvent defendant’s insurer directly, without having to sue the wrongdoer first.<br><br><strong>Key areas</strong><br><br><ul><li>The Bill would remove the need for separate proceedings to establish the insured parties’ liability before suing the insurer, thereby reducing time and costs.</li></ul><ul><li>Claimants would be provided with the right to obtain insurance policy information quicker to establish the likelihood of success.</li></ul><ul><li>The existing legislation in relation to the involvement of foreign companies would be clarified.</li></ul><ul><li>Existing legal requirements for a dissolved company to be restored to the register of companies would be removed. </li></ul>
Progress through Parliament
- 1st reading· Lords
23 November 2009 – 23 November 2009
- 2nd reading· Lords
7 December 2009 – 9 December 2009
- Committee stage· Lords
12 January 2010 – 9 February 2010
- Report stage· Lords
22 February 2010 – 22 February 2010
- 3rd reading· Lords
1 March 2010 – 1 March 2010
- 1st reading· Commons
1 March 2010 – 1 March 2010
- Second reading committee· Commons
9 March 2010 – 9 March 2010
- 2nd reading· Commons
10 March 2010 – 10 March 2010
- Committee stage· Commons
16 March 2010 – 16 March 2010
- Report stage· Commons
23 March 2010 – 23 March 2010
- 3rd reading· Commons
23 March 2010 – 23 March 2010
- Royal Assent· Unassigned
25 March 2010 – 25 March 2010
Source: UK Parliament Bills API. Bill ID: 560.