The court considered: ‘the correct legal test for assessing the sum payable under a policy of insurance against property damage when there is no term of the policy which fixes the measure of loss. The main issue is whether, in order to recover the cost of reinstating damaged property under such a policy when this cost has not actually been incurred, the insured needs 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.’
Citations:
[2020] EWCA Civ 308
Links:
Jurisdiction:
England and Wales
Insurance
Updated: 01 November 2022; Ref: scu.648567