extract from AFR
Insurers win in COVID-19 business interruption test case
Australia’s biggest insurers will not have to pay out billions of dollars in compensation to clients suffering COVID-19-related losses after the Federal Court ruled that their tightly worded policies excluded most business interruption claimants , in a decision for which an appeal is already under way.A slew of small businesses were fighting Allianz, Chubb, Guild, IAG, QBE and Swiss Re in court in a test case that will govern how many thousands of insurance claims for losses incurred in the pandemic are handled.
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$8.97 |
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-0.120(1.32%) |
Mkt cap ! $21.21B | |||
| Open | High | Low | Value | Volume |
| $9.03 | $9.12 | $8.95 | $22.95M | 2.552M |
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| IAG (ASX) Chart |