Understatement of the century! That's why it was not a price...

Understatement of the century!

That's why it was not a price sensitive disclosure which is technically correct but to us shareholders it is very material! I was surprised it didn't shoot up straight away but it appears that the market is digesting the news now. Maybe making it non-price senitive threw people off. Let's face it, the court action was always unlikely to be successfull for the claimants. If contracts specifically exclude pandemics ( as I understand the situation to be) then you can't say that the insurance covers pandemics... The reason the UK are fast tracking this case isto give certainty to everyone and to ensure that people feel heard. If the case was successfull then the insurance industry would be in tatters as contracts mitigating risks would be of minimal value if there is a risk that a government could just retrospectively change it. It would also stop insurance companies insuring people which is not good as effective insurance is essential for a risk-taking economy that grows. It's very simple from a contract law point of view but not from a political point of view. Anyways, all of what I have said is pointless as QBE have stated that in teh wrost case scenario their liability will be insignificant. Let's get back over $10 now please