Property insurance: assignment of policy proceeds

In Xu and Another v IAG New Zealand Ltd and Another [2017] NZHC 1964 Nation J in the New Zealand High Court considered the effect of the much-discussed decision in Bryant v Primary Industries Insurance Co Ltd [1990] 2 NZLR 142. Nation J has confirmed that the benefits of a policy providing for payment of reinstatement costs cannot be assigned to a third party, because the obligation to reinstate is personal to the assured.

Xu : the facts