MOBIS PARTS AUSTRALIA PTY LTD v XL INSURANCE CO SE

[2019] Lloyd's Rep. IR 162

NEW SOUTH WALES COURT OF APPEAL

Before President of the Court Beazley,Justice of Appeal Meagher,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.