Business
COVID business interruption test case panics insurer IAG – NEWS.com.au
COVID business interruption test case panics insurer IAG
Insurance Australia Group is building up a big cash war chest in anticipation it will be hit by a tsunami of pandemic-related business interruption claims after a court ruled in favour of policy holders in a landmark test case.Late on Wednesday, the NSW Court of Appeal rejected the insurance industry’s argument that policies should not cover losses suffered by its business clients due to COVID-19, sparking expectations of huge payouts on the horizon.
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