15 May 2013
BODY CORPORATE 398983 V ZURICH AUSTRALIAN INSURANCE LTD HC AK CIV-2012-404-002723
- Citation
- openlaw-b1defce8_9f2b_43e7_828b_77454520d257.pdf
- Court
- High Court
MD15's reference to 'loss' means the insured's actual loss (dollar amount) so s30(2) alters when Zurich's cover commences but not where it ends; the sum insured is exclusive of EQC payments and the Body Corporate is entitled to the sum insured ($12.95m) in addition to the EQC payment ($6.8m); although ACM's market knowledge was imputed to the Body Corporate it did not displace the plain meaning of MD15.