IAG leaves BI loss estimate unchanged amid appeal proceedings
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IAG leaves BI loss estimate unchanged amid appeal proceedings

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Insurance Australia Group (IAG) has announced it will not adjust its A$1.2bn ($911mn) net provision for potential business interruption claims, after it has appealed part of the decision from the Federal Court of Australia’s second BI test case.

The insurer noted that as the legal position becomes clearer and claims emerge, it will readjust its prediction of ultimate claim costs and the provision it has set aside to pay those claims.

It

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