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File this under “you had one job”.

Many of Australia’s biggest insurance companies, whose principal occupation is doing everything they can to ensure that they never pay out on a policy, have had their pants pulled down by the NSW Court of Appeal with very expensive consequences.

The issue before the court, in a test case brought on by the peak industry body the Insurance Council of Australia, was whether insurance policies that cover business interruption will respond in the circumstances of a pandemic such as COVID-19.