IAL Business Interruption Insurance Class Action

Overview

This class action is brought on behalf of businesses that held certain business insurance policies with CGU Insurance, and who closed their businesses due to the COVID-19 pandemic. ‘CGU Insurance’ (CGU) is one of the registered business names of Insurance Australia Limited (IAL).

The class action asks the Federal Court to determine all issues relevant to whether insurance cover is available for class members’ COVID-19 related losses, and to also make orders defining a system for the efficient and independent quantification of the insured Class Member losses.

Slater and Gordon Lawyers are conducting the action, with support from ICP Funding Pty Ltd.

From 23 February 2024, business owners who are eligible to participate in the class action will be receiving a notice from the Federal Court of Australia about the proceeding. The notice is also available to view on the Slater and Gordon Lawyers website here.

If you have received this notice either directly or through your broker, we encourage you to read it closely and consider registering your interest in this class action by 29 March 2024.

Register

If you have received a notice from the Federal Court informing you that you are a group member in this proceeding, you should consider registering to ensure that you and the other group members are able to benefit from the class actions, even if you have previously registered an expression of interest with ICP.

Registration is free and does not commit you to participate in the class action.

Information about registration can be found on the Slater & Gordon Lawyers website here.