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MOBIS PARTS AUSTRALIA PTY LTD v XL INSURANCE CO SE

LLR: Insurance & Reinsurance Plus

MOBIS PARTS AUSTRALIA PTY LTD v XL INSURANCE CO SE

[2019] Lloyd's Rep. IR Plus 4

NEW SOUTH WALES COURT OF APPEAL

Before President of the Court Beazley, Justice of Appeal Meagher and Justice of Appeal Leeming

Insurance (property and business interruption) - Warehouse collapse in storm - Stock later lost by fire - Whether policy should be rectified to include financial limit for storm or hail damage - Whether loss of contents proximately caused by storm - Whether stock lost in storm had to be replaced before indemnity payable - Business interruption - Whether depreciation should be deducted from indemnity for loss of gross profit.

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