Industry Segments: Business Interruption Page 1 / 4
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- August 11 2021
IAG sees FY 2021 loss, flags A$1bn insurance profit
Business interruption claims related to Covid-19 weighed heavily on performance.
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- July 23 2021
IAG expects FY 2021 net loss of A$427m
The Sydney-based giant indicates it made A$33m profit in H2 of the fiscal year ending June 30.
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- July 19 2021
SE Asia supply chains face delta variant disruption
Standalone pandemic coverage and parametric triggers seen as possible de-risk solutions.
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- July 12 2021
Australia’s second BI test case gets August 30 start date
The case pits Allianz, IAG, Chubb, Guild and Swiss Re against a variety of small businesses.
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- July 6 2021
BI claims saga to hit Australia’s insurers hard
The UK's highest court overturned a long-held global precedent in January.
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- June 25 2021
Australia’s High Court rejects ICA’s BI appeal
Insurers face billions in claims but a second test case is already underway.
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- June 17 2021
Axa’s €300m BI offer won’t fly down under
Australia is by far the most amenable jurisdiction to class actions in Asia.
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- June 7 2021
Q&A: Hannover Re’s Michael Eberhardt talks BI and climate change risk
The Sydney-based MD also discussed key reinsurance trends affecting both Australia and New Zealand.
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- May 27 2021
Australian litigation funder backs Melbourne BI claims
Court House Capital backs hospitality businesses in A$20m claims dispute.
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- April 26 2021
Public sector solutions vital to cover pandemic risk: Geneva Association
Almost 99% of US$4.5tn in global Covid-19 GDP losses for 2020 unlikely to be covered.
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- March 25 2021
ICA: ‘Substantial’ BI issues to be resolved in 2021
Oral arguments in appeal of first test case could be heard in May.
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- March 16 2021
Australia’s second BI test case moves ahead
Allianz, IAG, Chubb, Guild and Swiss Re face off in Federal Court against nine small businesses.
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- March 4 2021
QBE’s new boss faces tough test
Beazley CEO Andrew Horton is inheriting a US$1.5bn loss and uncertainty around business interruption claims.
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- February 16 2021
Australia liability GWP spikes in Q4: Marsh
The COR for the casualty market exceeded 100% for the first time since 2015.
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- February 10 2021
IAG posts A$460m loss but underlying profits improve
BI provisions drove downturn as H1 GWP climbed 3.8% to A$6.12bn.
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- February 9 2021
Suncorp drops travel as Australia profits soar
GWP increased to A$4.35bn in H1 with home and motor growing 5.2%.
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- February 1 2021
APRA’s 2021 spotlight falls on BI and reinsurance
Access to capacity from "critical" overseas reinsurers a priority, says latest policy guidance.
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- January 27 2021
Asia political risk capacity to rise
Experts tell IAN that Hong Kong and Thailand are likely to see further rate increases.
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- January 19 2021
Latest UK BI ruling overturns global precedent
2010 Generali/Orient-Express Hotels decision has been used to reduce insurer payouts.
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- January 8 2021
Pandemic event cancellation cover near ‘impossible’ after Olympics hit
Industry players tell IAN that coverage has become scarce.
