4 Dec 2017
MYALL v TOWER INSURANCE LIMITED [2017] NZCA 561
- Citation
- [2017] NZCA 561
- Court
- Court of Appeal
Full replacement value is assessed by reference to the notional cost of rebuilding to the same extent and condition as when new using materials and methods commonly used at the time of loss; the contractual qualifications apply to cash settlements and the insurer's itemised estimate must satisfy the policy standard but is not advantaged by any presumptive burden shift; scaling to insured area is an acceptable default for under-insurance subject to displacement by evidence of fixed costs; on the facts the court increased the insurer's award by the tile supply difference of NZD111,412 and other…