Christchurch property investor Ridgecrest wins IAG policy appeal in Supreme Court

Wed, 27 Aug 2014

By Jonathan Underhill Aug. 27 (BusinessDesk) - Ridgecrest NZ, a property investor, has won an appeal in the Supreme Court over insurance cover provided by IAG New Zealand for a Christchurch building damaged in four successive earthquakes. The closely held Ridgecrest had originally taken its case to the High Court after a dispute with the local unit of Insurance Australia Group about the nature of its policy. Ridgecrest had contended it was entitled to the maximum cover of $1.98 million for the final quake on June 13, 2011, that damaged th...

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