Australian businesses who suffered from COVID-related shutdowns, and the funders looking to back their potential business interruption claims, will no doubt be disappointed to learn that the judgement handed down last week in the second COVID-19 insurance test case favours insurers.
Harbour Underwriting has partnered with broker GS Group to provide after-the-event (ATE) insurance to Scottish law firms. Both firms said they recognise the need for ATE insurance in Scotland, due to the growing number of commercial disputes post-Brexit and post-pandemic. In recent years, solicitors’ professional obligations in England and Wales have changed, now involving advising the client about the availability of ATE insurance in contemplation of litigation. These obligations have similar application in Scotland, the firms said.
ICP Funding Pty Ltd, an authorised representative of CASL, is supporting a class action against Insurance Australia Limited, trading as ‘CGU Insurance’ (CGU), on behalf of business owners with CGU business interruption insurance who have suffered losses to their business losses arising from the the COVID-19 pandemic. The class action will be run by Slater & Gordon Lawyers.