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Underlying insurance clarified

The High Court in Zurich Australian Insurance Limited v Metals & Minerals Insurance Pte Limited [2009] HCA 50 recently considered whether underlying insurance provisions can escape the operation of section 45(1) of the Insurance Contracts Act, where the insured is not a party to the contract of insurance but a named beneficiary. The decision impacts upon an insurer’s entitlement to claim double insurance from another insurer, in situations where an underlying insurance provision operates to limit the scope of indemnity to an insured who is not a party to the contract of insurance.

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