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The pandemic has shown that acting ahead of a major event and ensuring wordings clarity are key.
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The case was launched after thousands of businesses attempted to claim on their insurance for Covid-19 related BI.
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The case started in Sydney today, with the Insurance Council of Australia arguing that the intention of pandemic exclusions in commercial property policies is clear.
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Insurers argue that the judgment shows that downturns prior to the occurrence of the insured peril can be accounted for.
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The regulator, the Hiscox Action Group and seven carriers will seek leave on Friday to appeal the High Court judgment directly to the Supreme Court.
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Applications have been filed for a 2 October hearing.
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The president and CEO urges wordings precision to avoid cyber-related litigation.
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The appointments follow the arrival of former Axis head of global international property Stuart Heath to lead delegated property.
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The Bronek Masojada-led carrier says it has yet to decide whether to challenge the High Court ruling.
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A group of 12 insurers have volunteered not to factor in the grants in any claims.
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The executive was previously Willis’ London North American property head.
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Hiscox Action Group lawyers demand the regulator uses powers to speed up interim payments.