As foreshadowed in our bulletin of 22 July 2016, two insurance reform statutes came into force over the summer.
On 12 August 2016 the Insurance Act 2015 brought in policyholder-friendly changes to the remedies available to insurers for breaches of warranty (introducing a quasi-causation test), and non-disclosure and misrepresentation of material facts (introducing proportionate remedies). For further detail on the changes, please see our briefing on the Insurance Act, our bulletin of 22 April 2016 or our Dispute Resolution Bulletin of July 2016.
The Third Parties (Rights against Insurers) Act 2010 (as amended by the Insurance Act 2015 and the Third Parties (Rights against Insurers) Regulations 2016) came into force on 1 August 2016, making it easier for claimants to pursue liability insurers where their insured defendant is insolvent. For more information, please see our previous bulletins of 25 February 2016 and 13 May 2016.