FOIL Update – Property Insurance

Update
  • FOIL
  • FOIL Ireland
  • FOIL select
  • London FOIL

The questions raised on this appeal concerned the correct legal test for assessing the sum payable under a policy of insurance against property damage when there was no term of the policy which fixed the measure of loss. The main issue was whether, in order to recover the cost of reinstating damaged property under such a policy when this cost had not actually been incurred, the insured needed to show a genuine, fixed and settled intention to reinstate the property and (in the case of a building) to do so on the same site and in the same style and general shape as it was before the damage occurred.

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