Monthly Archives: March 2014

NZ Supreme Court grants leave in insurance policy interpretation case

The Supreme Court (McGrath, Glazebrook and Arnold JJ) has granted leave to appeal in Firm PI 1 Limited v Zurich Australian Insurance Limited [2014] NZSC 19.

The question is whether the sum insured for buildings under the material damage section of the contract of insurance is inclusive or exclusive of sums payable to the insured by the Earthquake Commission under the Earthquake Commission Act 1993 for natural disaster damage to the insured’s buildings from the 22 February 2011 earthquake.

ICNZ Earthquake case heading to Supreme Court

In University of Canterbury v Insurance Council of New Zealand and Ors [2014] NZSC 13 the Supreme Court has granted leave to appeal on the following issue:

“Where a building is an earthquake-prone building in terms of s 122(1) of the Building Act 2004, is a council entitled under s 124(1)(c)(i) of the Act to require the building to be strengthened to an extent greater than is necessary to ensure that the building will not have its ultimate capacity exceeded in a moderate earthquake (as defined in reg 7 of the Building (Specified Systems, Change the Use and Earthquake-prone Buildings) Regulations 2005)?”