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Suncorp Group Provides Business Interruption Insurance Update

21 Dec 2020  |  08:18:00  |  Associate analysts  |  Increase  |  Decrease  |  

Original announcement: Business Interruption Insurance Update

Suncorp Group advised that the Federal Court of Australia ruled on 18 December 2020 in the matter of Rockment Pty T/A Vanilla Lounge (Vanilla Lounge) v AAI T/A Vero Insurance. The Court's interpretation is consistent with Company's position that cover for loss arising from a pandemic is a high risk for an insurer which would normally be excluded. Valuations will be finalised as part of processes for the half-year end at 31 December 2020.

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