Insurance company uses legislation to reduce pay out, High Court Approves
In this case, there was a disagreement between Delor Vue Apartments and Allianz Australia Insurance Limited about an insurance contract. The main issue was whether Allianz could use section 28(3) of the Insurance Contracts Act to reduce the amount of money it would have to pay out to Delor Vue Apartments. The court decided that Allianz could use this section, but also that Allianz's decision to not use this section was not final and could be changed. Additionally, the court found that Allianz did not do anything wrong in how it acted during the insurance contract dispute. In the end, the court decided in favor of Allianz and Delor Vue Apartments had to pay the costs of the appeal.