New Zealand Case Law: Decisions & Judgments | LexChat

Topic

Definition of loss

Legal area

Court

31 Oct 2022

IAG NEW ZEALAND LIMITED v SHAW [2022] NZHC 2829

Citation

[2022] NZHC 2829
Court

High Court

When the deceased's sons seized the motorhome with bolt cutters and removed it on 21 January 2018 there was a sudden physical loss within the insurance policy period; the motorhome was always owned by the deceased's estate and the administrator's title relates back; IAG erred in denying the claim on the basis of alleged uncertain ownership or lack of police charges; no real question to be tried remained and summary judgment was correctly entered for the insured.
5 Aug 2008

TECHNOLOGY HOLDINGS LIMITED V IAG NEW ZEALAND LIMITED AND ANOR HC AK CIV 2005-404-3450

Citation

openlaw-62ed9276_1e48_43b1_b773_e5ddab4cdb85.pdf
Court

High Court

There has not been 'loss' as defined (disappearance or physical deprivation). However, 'damage' under the Business Assets policy is not confined to physical damage; damage may exist where flood-affected storage causes the property to be unfit for intended use or creates a material risk of earlier malfunction, including where establishing that risk requires dismantling and inspection of units. If plaintiff proves such consequences it may recover for 'damage'.