General
Australian businesses fight insurance industry for payouts over coronavirus revenue losses
Detlef Haupt survived a near-knockout blow when the COVID-19 economic crash drained his cafe of customers and put the future of his 15-year-old business on the line.
Key points:
- Australians are battling insurers to claim pay-outs they say they are entitled to as a result of lost revenue due to COVID-19
- Some insurers are relying on fine print in policies that reference legislation that no longer exists
- The insurance industry has defended itself, saying that paying out such claims would cost $10 billion
His only small comfort during the worst of the downturn was the belief his insurance policy covered him for this exact kind of revenue shock.
His insurer believed otherwise.
“I’m not going anywhere. I will fight,” he said.
Mr Haupt is among at…
Continue Reading
-
General22 hours agoRussian strikes kill at least ten in ‘horrific attack’ on Ukraine’s capital of Kyiv
-
Noosa News17 hours agoLogan City Council to pull out of federal government Climate Active program due to financial pressure, transparency concerns
-
Business18 hours agoAiming for rock-solid retirement income? I’d buy these two ASX shares
-
Noosa News14 hours agoCharlie the therapy dog reduces stress – Proctor