January 18, 2021
Business News

Best’s Commentary: Australia Business Interruption Test Case Raises More Questions than Answers for Insurers


SINGAPORE–()–Following the outcome of an Australian legal test case that considered the application of certain infectious disease exclusions in business interruption policies going against the insurance industry, some insurers are looking to reinforce their claims provisions and execute capital raising actions to bolster their solvency positions, according to a new AM Best commentary.

The judgment handed down by the New South Wales Court of Appeal brings into sharp focus the potential downside risk for the industry. With a unanimous ruling against the arguments made by the insurers on this test case, AM Best expects the question of pandemic business interruption coverage to remain a significant source of…



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