In the week that Leicester City overcame odds of 5000/1 to be crowned Premier League champions, the insurance market was (almost) as astounded at the news that the long-awaited Third Parties (Rights Against Insurers) Act 2010, which received Royal Assent on 25 March 2010, will be coming into force on 1 August 2016.

Draft regulations were laid before Parliament on 25 February 2016 to amend the Third Parties (Rights Against Insurers) Act 2010

The Act, when it comes into force, will make it more straightforward for claimants to cut through directly to insurers when policyholders become insolvent. It has been six years since the Act was passed. These proposed amendments are another step on what has been a slow road towards bringing the Act into force.