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Bank Wins Claim Against Three Insurers in Cloncurry Theft
The Queensland National Bank Ltd won a £6,200 burglary insurance claim from Ocean Accident and Guarantee Corporation, the Queensland Insurance Co. Ltd, and the London Assurance Corporation in the Supreme Court. Judge Macrossan heard the case, detailing theft losses between October 18, 1931 and October 1, 1932, and ruling coverage only for specified theft, not acts by insiders. The bank seeks £3,100 from London Assurance and other sums from the two remaining insurers, with defenses arguing non coverage and causation. The verdict considered that insurance policies covered break in and entry by outsiders but not theft by a hawk team member or internal complicity. The court outlined that the policies insured burglary and theft under defined terms, and the decision interpreted the scope of coverage for the Cherry branch events.