IAG company future?, page-36

It could be this for the weak share price.

Australian insurers brace for COVID ruling after UK test case By Charlotte Grieve QBE plans to appeal a judgment in a UK test case on whether business interruption policies should cover losses related to the coronavirus pandemic as local insurers brace for an Australian ruling next month.The test case was launched in June by the UK's corporate regulator, the Financial Conduct Authority, after confusion over whether an infectious disease clause meant certain policyholders could claim for lost revenue resulting from the pandemic-induced lockdowns.Insurers may be forced to compensate businesses that lost revenue from the mandatory government lockdowns. CREDIT:BRIDGET BENNETTT he court's 150-page judgment ruled policies with clauses that reference infectious or notifiable diseases should be paid by insurers, which could have ramifications for Australians hoping to be compensated for the impact of the lockdowns.Most business interruption policies only cover property damage, but the FCA argued infectious diseases caused proximity issues similar to natural disasters meaning shock events that restrict trade should trigger a payout.