INSURANCE – whether, having regard to the terms of the relevant policy of boat insurance and the events which happened, s 54(1) of the Insurance Contracts Act 1984 (Cth) was engaged so as to deny to an insurer any entitlement to rely upon a provision in the said policy pursuant to which cover would be suspended whenever the insured boat intended to leave Australian waters and cleared Australian Customs and Immigration for that purpose in order to refuse to pay a claim for indemnity in respect of the total loss of a luxury yacht at a place which was within Australian waters but at a time when, according to the policy, cover was suspended – whether an insurer can rely upon the beneficial consequences of the engagement of s 54(1) in respect of a claim for such loss in making a claim for contribution based upon the principles of dual insurance against the insurer which was required to indemnify its insured as a result of the application of s 54(1) of the said Act
Tim Castle appeared for the applicant.