Business
Insurers brace for billions of dollars in COVID-19 business claims – Sydney Morning Herald
A ruling in the NSW Supreme Court of Appeal has triggered a sell-off in insurance stocks as the industry rushes to calculate its exposure.
Public-facing businesses forced to close due to lockdown restrictions, including restaurants, bars and gyms, are among those likely to have business interruption policies. A survey released in August by technology company Fivverr found one in five small businesses have lost more than $100,000 because of the pandemic.
Large businesses could also be affected, with ASX-listed entertainment group Star suing insurer Chubb over rejecting its business interruption claim. The next hearing of that case is…
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