Insolvency: third-party rights

The decision of HHJ Paul Matthews in Wood and Another v Desai and Another [2024] EWHC 1893 (Ch); [2025] Lloyd's Rep IR 203 identifies a potentially serious weakness in the Third Parties (Rights Against Insurers) Act 2010, namely that there is no protection for the victim of an assured who has been paid the insurance monies before becoming insolvent.

Wood: the background contract