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International

IAG reserves $640 million for potential BI claims influx

December 10, 2021 Reprints

Insurance Australia Group Ltd. is preparing for an influx of COVID-19 related business interruption insurance claims from small businesses if the Australian insurance industry loses a second BI test case, The Sydney Morning Herald reported. IAG has received fewer than 1,000 COVID-19 related BI claims to date, but has reserved around $865 million Australian ($640 million) for potential BI claims influx.

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IAG reserves $640 million for potential BI claims influx

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