Less than a year after it came into effect on 1 August 2016, the first judgment in relation to the Third Parties (Rights against Insurers) Act 2010 (the TP Act 2010) has been handed down in the case of BAE Systems Pension Fund (Trustees) Limited (the Pension Fund) v Bowmer and Kirkland Limited and others (B&K).
This decision will give comfort to companies involved in disputes with insolvent or potentially insolvent third parties but will cause concern to insurers who may face increased claims - this may in turn be reflected in the level of insurance premiums going forward.
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