11 Jun 2021
CBL INSURANCE LTD (IN LIQUIDATION) v HARRIS [2021] NZHC 1393
- Citation
- [2021] NZHC 1393
- Court
- High Court
The court held IPSA does not create an implied private right of action by a licensed insurer against its appointed actuary for breach of statutory duty and therefore the ninth cause of action was struck out; clause 9 of PwC's engagement terms unambiguously barred CBLI from bringing claims against PwC partners or employees, and the claims against Messrs Mackay and Rhodes in the negligence cause were struck out; clause 6.1(iv) plainly capped PwC's civil liability to five times fees, so claims against PwC exceeding that cap were not reasonably arguable and were limited accordingly (with leave to…