August 21, 2012

Interpretation of combined commercial policy wording

Ted Baker Plc v AXA Insurance UK Plc [2012] EWHC 1406 (Comm)

The claimant clothing retailer discovered that an employee had been stealing stock from its warehouse. The claimant claimed on its commercial combined insurance policy that it held with AXA, for losses during the period of 2004-2008 in relation to loss of stock (£1 million) and losses for consequential loss or business interruption (£3 million).