Contingency Fees Act, 1997
R 385.00
Insolvency Act, 1936 (Act No. 24 of 1936)156. Insurer obliged to pay third party’s claim against insolvent |
Whenever any person (hereinafter called the insurer) is obliged to indemnify another person (hereinafter called the insured) in respect of any liability incurred by the insured towards a third party, the latter shall, on the sequestration of the estate of the insured, be entitled to recover from the insurer the amount of the insured's liability towards the third party but not exceeding the maximum amount for which the insurer has bound himself to indemnify the insured.
