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Suncorp Group Provides Business Interruption Insurance Update

19 Nov 2020  |  10:22:00  |  Associate analysts  |  Increase  |  Decrease  |  

Original announcement: Business Interruption Insurance Update

Suncorp Group provided an update in relation to the NSW Court of Appeal's decision on the Insurance Council of Australia's (ICA) Business Interruption (BI) industry test case on behalf of insurers. The NSW Court of Appeal has ruled in favour of policyholders. The Court held that certain policy exclusions referencing the Quarantine Act and subsequent amendments cannot be read as references to the Biosecurity Act and cannot be relied on in relation to COVID-19 BI claims. The decision does not mean that business interruption policies referencing the Quarantine Act will automatically respond to COVID-19 related claims.

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