An insurer's liability to a claimant under this Act is not reduced, discharged or otherwise affected by:
(a) any compromise or settlement between the insurer and the insured person in respect of the insured liability, or
(b) any payment by the insurer to the insured person in respect of the insured liability unless and to the extent that the amount of the payment is or has been paid by the insured person to the claimant in respect of the insured liability.