20 Dec 2012
STEIGRAD V BFSL 2007 LTD & ORS CA674/2011 [2013] NZCA 253
- Citation
- [2013] NZCA 253
- Court
- Court of Appeal
Section 9 does not operate to create a statutory charge over insurance monies payable to reimburse an insured's defence costs under a policy; where a policy provides both indemnity for third party liabilities and reimbursement of defence costs under a single aggregate limit, the insurer may reimburse defence costs when it becomes contractually liable to do so and the s 9 charge only attaches to the balance available for third party liability when the insurer becomes legally liable to meet that liability.