One of the oldest Insurance Companies in Australia has announced that it will enter 'run-off' mode and will cease offering renewal of existing policies or new policies after failing to secure additional capital from shareholders.
This will put additional pressure on the limited number of local Insurers who remain active in the not for profit and community care space. If you are affected by this decision we suggest you act promptly to secure replacement cover, as already long response times from Insurers are likely to increase.
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icare have an excellent FAQ page on their website for matters Covid related.
I recommend having a look at it if you have any questions on how Jobkeeper payments are treated, or working from home issues or Covid transmission in the workplace. See it here: https://www.icare.nsw.gov.au/icare-coronavirus-information/icare-coronavirus-information-for-employers/#gref Professor Alan Manning has produced a brief paper on the response of Insurance to the Virus. You can see the report here.
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Authorroger smith Archives
May 2023
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