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COVID-19 was clearly excluded from the business interruption insurance policy taken out by The Star, and a lawsuit seeking coverage for economic loss resulting from the pandemic was "misconceived", a group of insurers has said.
The applicants in a shareholder class action against Dreamworld owner Ardent Leisure over a 2016 tragedy in which four people died following a ride malfunction have lost their request for the company’s insurance documents, with a judge rejecting suggestions that the theme park operator lacks assets to pay the estimated $310 million in claims.
Insurers for The Star have told a court that the casino’s lawsuit, which seeks to resolve threshold policy coverage issues in a bid to claim the losses it has suffered as a result of government restrictions enacted to stop the spread of COVID-19, is incomplete.
Sydney’s Star Casino is taking its insurers to court in a bid to claim the losses it has suffered as a result of Government restrictions enacted to stop the spread of COVID-19.
The lead applicant in a shareholder class action against Dreamworld owner Ardent Leisure over a 2016 tragedy in which four people died following a ride malfunction is seeking access to the company’s insurance documents, amid fears the theme park operator lacks assets to meet the estimated $310 million lawsuit.
Insurer QBE wants to downsize a massive class action brought against it and banking giant ANZ over the sale of allegedly worthless add on insurance.
The Commonwealth Bank of Australia has been hit with another class action for allegedly pushing insurance policies with excessive premiums onto customers.
Two insurance companies have been joined as respondents to a class action against forestry giant Gunns over the failure of six managed investment schemes for eucalyptus wood in Tasmania.
The Insurance Council of Australia and the Australian Financial Complaints Authority have filed court proceedings that will test whether certain infectious disease exclusions in business interruption cover apply to coronavirus-related claims.
The majority shareholder in insurance broker Coverforce has won its bid to use documents from an existing lawsuit over the company's $25 million acquisition of Suncorp unit Resilium in new proceedings it intends to bring.