13 Dec 2021
Allianz General Insurance Company (M) Berhad Gabungan Sumber Tenaga Sdn Bhd
- Citation
- WA-22NCC-475-09/2020 (Mahkamah Tinggi)
- Court
- High Court
- Case number
- WA-22NCC-475-09/2020 (Mahkamah Tinggi)
The court construed the policy as a whole and held Clause 17 does not apply to stock-in-trade here; on the evidence (invoices, shipment documents, witness testimony that batteries were new and undeteriorated) the Plaintiff proved the actual value at the time of loss. The Defendant's expert evidence was rejected as unreliable. Therefore the Defendant breached the policy by refusing to indemnify; Plaintiff is entitled to the insured amount less salvage, RM1,610,920, and costs; ambiguities resolved against the insurer and even if market value applied it would not reduce recovery below the insure…