24 February 2022
Covid-19 Business Interruption Insurance – Insurers Win Appeals in Second ICA Test Case and Star Casino Claim
The Full Court of the Federal Court of Australia (3 judges) has generally confirmed the first instance decisions in the Second ICA Test Case 1 and the Star Casino Claim 2 – largely agreeing that the insurers are not liable for certain claims arising from COVID-19 related interruptions to business.
29 October 2021
COVID-19 Business interruption Insurance – Round 1 of Second ICA test case to insurers
Insurers have won the first round of the Second ICA test case on business interruption insurance cover for losses arising from COVID-19 related causes. But the devil is in the detail of Justice Jagot’s judgment, and if one key finding is reversed on appeal then policyholders with cover for...
21 July 2021
How much detail of potential claims is needed prior to renewal?
When it comes to renewing “claims made and notified” policies (such as D&O insurance and Professional Indemnity), policyholders must be careful to disclose full details of any facts known to them which have the potential to give rise to a claim, otherwise they run the risk of disentitling...
31 March 2021
Policyholder successfully challenges insurer’s refusal to cover ‘securities claim’
In good news for policyholders defending class actions, the Federal Court of Australia has rejected an insurer’s arguments that a class action settlement was not covered because: the units in an ASX-listed trust the subject of the proceedings were not “securities”; and the proceedings arose from...
22 January 2021
Policyholders defeat insurers’ appeal in UK FCA test case on cover for COVID-19 business interruption losses
The momentum in favour of policyholders seeking BI cover for COVID-19 related losses continues as the English Supreme Court has unanimously dismissed the insurers’ appeal against the original judgment which was largely favourable to policyholders.
15 January 2021
Supreme Court hands down judgment in FCA’s Covid-19 Business Interruption Test Case
The Supreme Court has today handed down judgment in the Covid-19 Business Interruption insurance test case of The Financial Conduct Authority v Arch and Others . Herbert Smith Freehills acted for the FCA who advanced the claim for policyholders.
19 November 2020
Update on Covid-19 Business Interruption Insurance: A Further Win for Australian Policyholders
Policyholders have won the first of a number of Australian test cases about insurance cover for Covid-19 related business interruption losses. In a 5-0 decision, the NSW Court of Appeal held that an exclusion in the infectious diseases extension for quarantinable diseases notified under the “...
06 November 2020
Update on Covid-19 Business Interruption Insurance Claims – Australian Test Cases
In previous editions of Catalyst ( here and here ), we explained what was happening in the UK test case on business interruption insurance cover for financial losses associated with Covid-19 and the actions taken by authorities in response to Covid-19, which was largely resolved favourably to...
20 May 2022
Issues in Contentious Insolvency Webinar Series
Liquidators are appointed whenever a company is wound up. Banks and other financial institutions often need to deal with liquidators. These interactions can range from (and can turn from) run-of-the-mill document/information requests, to something more contentious, high-profile and high-stake:...
19 May 2022
Do companies have a moral duty to self report to the SFO?
Although Amec Foster Wheeler’s corporate bribery settlement has not introduced any legal obligation to self-report wrongdoing to the Serious Fraud Office, the judgment does encourage companies to seriously consider their moral and ethical duties when deciding whether to do so, argue Herbert Smith...
18 May 2022
Australian Federal Election Workplace and Industrial Relations Survey: Back to the future?
In the lead up to the 2022 Australian Federal Election, our national team ran a series of feedback sessions and surveyed our national clients. The results of our 2022 Federal Election Workplace and Industrial Relations Survey are in.
12 May 2022
Half way to COP27: Are governments delivering on their climate promises?
We are excited to launch our latest report, Halfway to COP27 – a review of governments' ambitions and promises in respect of climate change, six months after the 2021 United Nations Climate Change Conference, commonly referred to as COP26, brought together 120 world leaders to discuss the issue.