Credit hire win for insurers.
Insurers could save as much as £30m a year following the Court of Appeal's landmark decision on a lo...
Insurers could save as much as £30m a year following the Court ofAppeal's landmark decision on a long disputed credit hire case.
The Court's ruling in Dimond v Lovell stipulates that insurers should only
be liable for losses actually suffered by the claimant, rather than the
cost of a replacement vehicle. The verdict means that many credit
agreements are now no longer enforceable by law, which could result in
bankruptcy for credit hire companies across the country.
The judgement concluded that
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