Farmers Mutual Insurance Co Ltd v Bay Milk Products Ltd - [1989] 3 NZLR 647

Insurance — Government earthquake insurance — Liability of Earthquake and War Damage Commission for properties insured under global policy — Regulatory upgrades on reinstatement — Owner had separate properties insured under global policy and, for the purpose of valuing the insured property, had filed a number of certificates (with schedules attached) with the Commission — Schedules listed specific items of property and set out their value — Owner suffered loss of part of property in earthquake and elected to reinstate — Replacement buildings had to be upgraded in order to comply with regulations which did not apply to the destroyed buildings — Whether Commission's liability was determined by aggregating all certificates — Whether each schedule was a certificate — Whether each schedule established Commission's liability in respect of property specified therein — Whether Commission was liable to meet any cost of regulatory upgrades — Earthquake and War Damage Act 1944, ss 14 and 16.

Insurance — Property insurance — Earthquake damaged property — Liability of insurance company under global policy — Owner had separate properties insured under global policy which specified limits of liability of insurer for specified types of property rather than on specific items of property — Owner had furnished certificates which placed indemnity and reinstatement values on specific items of property — Owner suffered loss of part of property in earthquake — Whether liability of insurer was determined by certificate of value of the damaged property or by the limit of liability for that type of property.