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.

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