ASIC offers guidance on COVID business interruption claims

The Australian Securities and Investments Commission (ASIC) has published information to assist small business with business interruption insurance claims resulting from the pandemic.

ASIC says that two test cases before Australian courts should clarify whether business interruption insurance policies will cover losses from the COVID-19 pandemic.

It advises small businesses to contact their broker or insurer and ask whether their policy covers losses related to COVID-19, or could, depending on the outcome of the test cases.

ASIC has also provided guidance to help in claim preparation and calculation of losses, including phone access to free advice.

See ASIC’s advice page, Business interruption insurance claims and COVID-19: what you need to do.

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