High court rejects Australian insurers’ BI test case appeal
Posted On: Jun. 25, 2021 9:29 AM CST
The High Court of Australia has rejected an appeal by the Insurance Council of Australia in a business interruption test case after a lower court had ruled that it must pay for losses associated with the COVID-19 pandemic, ABC News reported. The test case centers on the exclusion wordings that may affect around 250,000 policies with an estimated potential liability of $10 billion Australian ($7.6 billion) in total.