“What the declared values of all property insured are is one thing; what was the property the subject of the indemnity is quite another.”
Those were the words of Allsop CJ of the Federal Court of Australia when the judge ruled in favour of the policyholder in Oceanview Developments Pty Ltd trading as Darwin River Tavern & Darwin River Supermarket v Allianz Australia Insurance Ltd trading as Territory Insurance Office  FCA 852.
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