March 2024 Notice - Business Interruption & COVID 19 - Federal Court of Australia

A class action was commenced in Federal Court of Australia (The Court) in respect of BI claims, the COVID-19 pandemic and how the outcome of previous test cases with the determination of insurers being applied to claims lodged. The class action represented business insurance policies issued to clients, providing cover for business interruption losses within the terms of the relevant policy.

The Court ordered a notice to be issued to all insurance policyholders (either directly or via their broker) that could be potential members of the class action to make them aware of their options in joining that action. As a part of the case management steps of this, The Court has ordered that a Notice be sent to all clients of the insurer who held Business Interruption cover with them during this period.

The notice was also issued by a third-party distribution agent appointed by The Court, there may be some duplication in the process and multiple communications may have been received. The Court has required a broad reach approach via post, email and or text to ensure all relevant customers receive the notice.

Holdfast Insurance Brokers issued this notice to all clients, who met the criteria set by The Court. Below is a copy of those notices for your reference and the details of how to join the class action is contained within them. Your registration to the class action will be handled by the stated lawyers within the communications. You do not need to notify our office that you have registered, as any results from the class action will be made to you directly by the lawyers handling the actions.

Please also refer to the Frequently Asked Questions sheet, we have prepared for you below.