News

New ruling to ensure credit hire claimants must provide evidence of financial means

By 2023-04-11T06:30:00

court hammer

The ruling is expected to ’reduce friction and unnecessary legal costs from the process of settling credit hire claims,’ said Allianz Insurance

In a significant development for the credit hire industry, a new ruling from the High Court last week (04 April 2023) will now require credit hire companies to voluntarily provide evidence of impecuniosity upon reasonable request at the pre-litigation stage.

The ruling comes as a result of a six-year strategic initiative led by law firm Keoghs – along with its client Allianz – to enforce requests for impecuniosity disclosure before litigation proceedings begin.

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