In Clare Horwood & Others v Land of Leather Limited (In Administration) and Zurich Insurance Plc the Commercial Court was asked to consider in the context of a claim under the Third Parties (Rights Against Insurers) Act 1930 whether a compromise agreement entered into by an insured without the insurer's specific instructions in writing was in breach of a policy term. Under the compromise agreement, the insured had released a third party from an obligation to indemnify it in respect of various personal injury claims.
United Kingdom, Insolvency & Restructuring, Insurance, Litigation, Product Regulation & Liability, Herbert Smith Freehills LLP, Contractual term, Condition precedent, Breach of contract, Consideration, Good faith, Commercial Court (England and Wales)