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30 PAYMENT AND NON-PAYMENT

Law of Insurance Contracts

Chapter 30 PAYMENT AND NON-PAYMENT 30-1 PAYMENT In the event of insured loss, the insurer discharges its duty under the contract of insurance by payment or, in the appropriate case, reinstatement. 1 The amount of payment required has been discussed in Chapter 28. This chapter is concerned, first, with the time and legal nature of payment (30-2), the mode of payment (30-3), and the identity of the payee (30-4). These matters are determined primarily 2 by the contract of insurance, subject to general rules of law governing payment and for contracts/renewals made on or after 4 May 2017 also by section 13A of the Insurance Act 2015. This chapter is also concerned with payment by mistake (30-5), compromise payment (30-6), and, last but not least, the effect of non-payment (30-7 ff).

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