Watson and Another v Renasa Insurance Company Limited (14664/2012)
Watson and Another v Renasa Insurance Company Limited (14664/2012) [2019] ZAWCHC 7; [2019] 2 All SA 280 (WCC); 2019 (3) SA 593 (WCC) (14 February 2019)
The court found that the plaintiff's inability to reinstate the damaged machinery was a direct result of the defendant insurer's persistent refusal to pay or tender any amount under the policy, including the indemnity value. The insurer's conduct placed the plaintiff in an untenable financial position, making reinstatement impossible despite his genuine and continuing intention to do so. The court held that the reinstatement value conditions (RVC) clause remained applicable, and the defendant could not rely on the plaintiff's inability to reinstate as a defence, especially where the insurer f…
Source excerpt
- Insurance Contracts
- Indemnity Principles
- Reinstatement Value
- Interest On Unliquidated Claims
- Contra Proferentem
- Policy Interpretation