"ASX haven't announced this to the market as they're...

"ASX haven't announced this to the market as they're insured".... ....... but does the insurance cover executives making ill-considered decisions.

one might say that Kevin Lewis had a predetermination to bump ISX even when there was no clear evidence to support their "suspicions".

Should the company's insurance pay out on a dumb decision by an employee?

Was/Is KL so insured for professional liability that covers errors of judgement?

I don't know the answers and I'm really just guessing, but I'm damned sure that any insurance co. would be anxious for a settlement to reduce cost.