Tag Archives: corporate risk and insurance

ILN Today Post

I can buy it, but what if I don’t want it? Government releases ‘Reforming flood insurance – A proposal to improve availability and transparency’ consultation paper

As part of its review of the issue of flood coverage in Australia, the Natural Disaster Insurance Review panel (the review panel) considered several options to increase the availability and affordability of flood insurance offered by the private insurance market in the aftermath of the 2010/2011 storms and flooding in Queensland and Victoria.  One such option was to require all insurers to offer flood cover, with consumers having the option to ‘opt out’ (the proposal). read more

 

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ILN Today Post

Corporate Risk and Insurance Update

Sparking a divide in defining ‘damage’ in business interruption claims?

Mainstream Aquaculture Pty Ltd v Calliden Insurance Ltd [2011] VSC 286

By Jessica Kinny and Ray Giblett of Gadens Lawyers, Sydney

The concept of ‘damage’ is fundamental to business interruption insurance because without it there is often no cover.  A broad approach to what constitutes ‘damage’ can therefore have a significant impact on the scope of such policies. read more

 

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