The Coronavirus Economic Response Package Omnibus Act 2020 (the Omnibus Act), specifically Schedule 12—Temporary relief for financially distressed individuals and businesses, came into effect on 25 March 2020 and contained several temporary measures designed to support the Australian economy in response to the COVID-19 pandemic.
Solar projects rely deeply on the quality of the work delivered by contractors and subcontractors, whose insolvencies can severely impact a development and the insurance policies in place.
It is vital for an insured to comply with its duty of disclosure because failing to do so might allow the insurer to avoid liability for a subsequent claim.
A lot is happening on the class action front at the moment, and added into the big litigation mix is the impact of Covid-19 on directors’ responsibilities and company exposure. Here is a rundown of what to look out for.
In this article republished from Lockton International Insight, we look at the impact of Covid-19 on claims as they begin to materialise, and how insurers are starting to adapt their underwriting strategies.
RETURNING OUR WORKFORCE TO BUSINESS AS USUAL