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Suncorp, IAG trim reserves for COVID BI claims after test case ruling

Business interruption

Major Australian insurers Suncorp Group Ltd. and Insurance Australia Group Ltd. have trimmed their reserves for COVID-19 related business interruption insurance claims after the High Court of Australia’s latest decision to deny any special leave to appeal previous BI test case rulings, Artemis reported. The latest decision will also help in releasing some trapped insurance-linked securities capital.



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