Pennsylvania Act 1933-213 — INDEMNITY INSURANCE, BANKRUPTCY OF INSURED

Act text

INDEMNITY INSURANCE, BANKRUPTCY OF INSURED
                  Act of May 24, 1933, P.L. 987, No. 213              Cl. 40
                                  AN ACT

     Relating to policies of indemnity insurance; requiring such
        policies to contain provisions covering cases of insolvency
        and bankruptcy of the insured, and to permit injured persons,
        or their personal representatives, to maintain suits against
        the insurer in such cases.

        Section 1.  Be it enacted, &c., That no policy of insurance
     against loss or damage resulting from accident to or injury
     suffered by an employe or other person and for which the person
     insured is liable, or against loss or damage to property caused
     by animals or by any vehicle drawn, propelled or operated by any
     motive power and for which loss or damage the person insured is
     liable, shall hereafter be issued or delivered in this State by
     any corporation, or other insurer, authorized to do business in
     this State, unless there shall be contained within such policy a
     provision that the insolvency or bankruptcy of the person
     insured shall not release the insurance carrier from the payment
     of damages for injury sustained or loss occasioned during the
     life of such policy, and stating that in case execution against
     the insured is returned unsatisfied in an action brought by the
     injured person, or his or her personal representative in case
     death results from the accident, because of such insolvency or
     bankruptcy, then an action may be maintained by the injured
     person, or his or her personal representative, against such
     corporation, under the terms of the policy, for the amount of
     the judgment in the said action, not exceeding the amount of the
     policy.