Claims expected as record rainfall hits Townsville in Australia
May 2 2022 by InsuranceAsia News Staff
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The industry needed to define its positions on whether the battery fire is an operational risk for users, or a product liability risk, especially in the case of thermal runaway.
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Carriers will only have to deal with limited commercial and industrial claims such as business interruption as the April 3 quake was quite far from the economic and scientific centres and most of the losses are ceded to the international reinsurance market.
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