Federal Court rules on IAG business interruption class action

The court expressed its intent to declass the representative proceeding.

IAG has acknowledged the Federal Court of Australia's judgement on 20 September, regarding the class action filed against Insurance Australia Limited (IAL) by policyholders with business interruption policies.

The court expressed its intent to declass the representative proceeding, subject to certain conditions, including informing group members of their rights to pursue individual claims and making orders reflecting previous findings in related test cases.

A further case management hearing will be held, though the date has not yet been set. The representative applicant may seek leave to appeal the judgement and any subsequent orders.

IAG has welcomed the Court's decision and continues to urge customers with business interruption policies affected by COVID-19 to submit claims, which will be processed through the company’s standard claims procedure.

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