BI test case ruling goes against insurers

The NSW Court of Appeal has ruled against insurers in the business interruption test case heard last month. As insuranceNEWS.com.au has reported, the Insurance Council of Australia (ICA) and Australian Financial Complaints Authority (AFCA) agreed to launch the case to resolve uncertainty about outdated wording in pandemic exclusions. Some Australian insurers’ policies still include exclusions…

Australian insurers lose COVID-19 business interruption test case

The COVID-19 business interruption test case in Australia, initiated by the Australian Securities and Investments Commission (ASIC) and the Insurance Council of Australia (ICA), has finally concluded – with the New South Wales (NSW) Court of Appeal rejecting the industry’s argument that policies should not cover COVID-19 pandemic-related losses. The NSW Court of Appeal’s decision comes after…

Is your business fire safe?

Although bushfire season is here, this risk is only one of a host of different sources of fire. Arson is often the cause of fire and poor maintenance standards are another serious fire risk for businesses. For instance, damaged or old electrical cabling is all too often the cause of a fire, especially in older…

Top Brokerages 2020

So far, this year has been one of dramatic change. From the Black Summer bushfires, floods, hail and drought to the unprecedented COVID-19 global pandemic, 2020 has forced brokers to step up to help their clients survive. In this year’s edition of the Top Brokerages, IB set out to identify the brokerages that are leading their clients…

“Watershed moment”: Business interruption case fronts the Supreme Court

The insurance industry’s “watershed moment” is currently underway in the Supreme Court as it hears the contentious case of whether the coronavirus pandemic can be exempt from certain infectious diseases exclusions in business interruption policies. The Insurance Council of Australia (ICA), Hollard Insurance Company and HDI Global Specialty SE have each submitted pleadings to the…