Supreme Court allows insurer's right of recourse against another insurer for a claim settled with a third party.
Legislator summary
AI generatedThe Supreme Court of Finland allowed an insurer's claim for recourse against a co-insurer regarding a liability claim settled with a third party. The plaintiff argued that the settlement with the third party extinguished the right of recourse, while the defendant contended that the insurer retained this right despite the settlement. The court ruled that the right of recourse remains valid because the settlement did not prejudice the insurer's ability to recover from the co-insurer for the portion of the loss covered by the policy.
Legislator headnote
AI generatedInsurance Act 1971, s. 10; Insurance Contracts Act 2014, s. 10: The right of recourse of an insurer against a co-insurer is not extinguished by a settlement with a third party if the settlement does not prejudice the insurer's right to recover from the co-insurer.
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AI generatedFull text
Kysymys vakuutusyhtiön takautumisoikeudesta toista vakuutusyhtiötä kohtaan ja lausunnon antamisesta kanteen kaikista perusteista.