Business
Insurers seek legal options to avoid deluge of pandemic claims – The Australian Financial Review
Insurance Australia Group went into a trading halt after a NSW Court of Appeal ruling that pandemic exclusions in business interruption policies are invalid.
Insurers were confident the court would view this as a minor error and accept the wording was clearly intended to exclude pandemics. But their confidence was misplaced, and on Wednesday afternoon the panel of five judges unanimously ruled that exclusions of “quarantinable diseases” under the Quarantine Act did not get insurers off the hook for claims relating to COVID-19.
The next morning IAG said it had requested a trading halt to “consider the impact of the judgment” and “to assess the financial…
-
Noosa News20 hours agoWhales return to Noosa as shark nets spark controversy
-
Noosa News23 hours agoA World-Premiere Exhibition Dedicated to Crocodiles Is Snapping Its Way Into Queensland Museum Kurilpa, Then Touring Nationally
-
Noosa News22 hours agoBrisbane news LIVE updates: One person dead and long delays on Gateway Motorway after crash
-
Noosa News13 hours agoBlute’s Bar Is Picking Up Where The Bearded Lady Left Off, Adding Live Music to Its Late-Night Karaoke Sing-Alongs