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Business Interruption tag returned 78 results

  • Australia: Business interruption appeal documents warn of $10bn claims total

    The Insurance Council of Australia (ICA) is looking to overturn a New South Wales Court of Appeal test case decision that found two policy wordings citing the now repealed Quarantine Act 1908 could not be used to exclude cover for disruptions caused by the COVID-19 outbreak.

    Asia | 18 Dec 2020
  • BI risks need a shift in the COVID-19 crisis

    A RIMS-Prudent Brokers survey released at the RIMS Risk Forum India event last week has revealed that the COVID-19 pandemic has caused huge business interruption (BI) losses in India and hence the urgent need to develop non-damage business interruption (NDBI) solutions for the market.

    AIRPlus | 10 Dec 2020
  • Prudential and SkillsFuture Singapore collaborate to accelerate SMEs' business transformation

    Small and medium-sized enterprises (SMEs) will get more support to equip themselves with the skillsets to further grow their business under Prudential Singapore's SME Skills Accelerator (SSA) programme. It is a collaboration between SkillsFuture Singapore (SSG) and Prudential, under the SkillsFuture Queen Bee partnership.

    Agents | 01 Dec 2020
  • Egypt: Insurers propose pandemic risk pool

    Insurance companies in Egypt have proposed setting up a pool to cover the risk of epidemics and to fund scientific research on them. Insurers would set aside part of their annual profits for the pool.

    Middle East | 30 Nov 2020
  • Insurtech Blink launches non-damage business interruption parametric solution

    More than three-fourths of US businesses are underinsured by 40% or more and 44% of small and medium enterprises (SMEs) in the US have never been insured according to a study. In the event of a catastrophe, such enterprises and organisations either go out of business completely or suffer huge financial losses.

    AIRPlus | 25 Nov 2020
  • South Africa: Santam to appeal court's decision in COVID-19-related BI claims

    South Africa's largest non-life insurance company Santam says that it has decided to appeal against the judgment of the Western Cape High Court that found the insurer liable to pay clients' claims related to the coronavirus lockdown.

    Africa | 23 Nov 2020
  • Australia: Test case ruling will not be major interruption for insurers

    Australian P&C insurers' potential payouts for BI claims following a test case ruling by the New South Wales (NSW) Court of Appeal will be manageable, said S&P Global Ratings (S&P).

    Asia | 20 Nov 2020
  • Australia: Insurers lose BI test case

    The New South Wales Court of Appeal (the court) has ruled against insurers in a test case that was initiated by the Insurance Council of Australia (ICA) and Australian Financial Complaints Authority.

    Asia | 19 Nov 2020
  • US: Art museum sues insurer for breach in policy

    The Mattress Factory, an art museum in Pittsburgh, USA, is set to sue Cincinnati Insurance (Cincinnati) to cover more than $600,000 of financial losses since March.

    Asia | 19 Nov 2020
  • South Africa: Insurer liable to pay landmark COVID-19-related claim

    The Western Cape High Court has ruled in favour of Ma-Afrika Hotels and Stellenbosch Kitchen in the high-profile COVID-19 business interruption (BI) claims battle against South Africa's largest non-life insurer Santam.

    Asia | 18 Nov 2020

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