Major retailers lose insurance

QBE Insurance Group Ltd. has reportedly cancelled all insurance covers for suppliers of Australian department store chains Myer Pty Ltd. and David Jones Pty Ltd., citing high risks due to existing market conditions, Inside Retail reported citing The Sydney Morning Herald. Additionally, trade credit insurers Euler Hermes S.A., Coface, the Bond and Credit Company Pty Ltd. and Atradius N.V. are also reportedly reviewing their insurance covers for Myer, David Jones and other retail industry players in Australia.

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