Commercial lines

As lawmakers propose sweeping measures to rewrite pandemic exclusions, insurers are relying on protections enshrined in the Constitution to resist an onslaught of BI claims, writes John Hewitt Jones.

Anna Sagar and Samuel Casey assess whether expectations of coronavirus-related losses are likely to match outcomes in what were tipped to be some of the most exposed classes.

The regulator said insurers should work on a case-by-case basis on government support deductions, otherwise it could step in.

Former Axa XL property treaty head Catherine Turner will co-lead the unit with Richard Evans.

The establishment of “shared resilience solutions” to BI losses would require unprecedented policy coordination.

The law firm representing customer action groups claims brokers discouraged policyholders from lodging Covid-19 claims.

The judges will now consider their verdicts, with an ambition to produce a draft judgement in mid-September.

An improved claims picture offset investment losses and reduced premiums.

An unspecified superior court will hear the ICA-funded case, with the outcomes used by the Australian financial ombudsman.

The insurer said the regulator was “reverse engineering” to arrive at the conclusions it wanted in the BI test case.

Project is in its early stages, with a round of meetings held to stress test it with PE firms.

The regulator has argued that businesses that were never required to close during the pandemic still had their access restricted.