Business interruption insurance pandemic update

first_imgBusiness interruption insurance pandemic update The Insurance Council of Australia is in discussions with insurers, the Australian Financial Complaints Authority and other stakeholders to consider a further test case that explores outstanding policy matters, including proximity and prevention of access, relating to the pandemic and business interruption insurance.The industry’s intention is that it would again meet the costs of both the policyholders and the insurers in any legal process, in the same fashion as the first test case regarding the Quarantine Act.The industry seeks to progress a court resolution of these matters quickly, and regardless of any decision around an appeal on the first test case.The Insurance Council will continue to work with all stakeholders and government to provide clarity for all parties and the industry. It will provide an update on these matters as soon as they are settled in coming weeks. /Public Release. This material comes from the originating organization and may be of a point-in-time nature, edited for clarity, style and length. View in full here. Why?Well, unlike many news organisations, we have no sponsors, no corporate or ideological interests. We don’t put up a paywall – we believe in free access to information of public interest. Media ownership in Australia is one of the most concentrated in the world (Learn more). Since the trend of consolidation is and has historically been upward, fewer and fewer individuals or organizations control increasing shares of the mass media in our country. According to independent assessment, about 98% of the media sector is held by three conglomerates. This tendency is not only totally unacceptable, but also to a degree frightening). Learn more hereWe endeavour to provide the community with real-time access to true unfiltered news firsthand from primary sources. It is a bumpy road with all sorties of difficulties. We can only achieve this goal together. Our website is open to any citizen journalists and organizations who want to contribute, publish high-quality insights or send media releases to improve public access to impartial information. You and we have the right to know, learn, read, hear what and how we deem appropriate.Your support is greatly appreciated. All donations are kept completely private and confidential.Thank you in advance!Tags:Australia, Australian, Australian Financial Complaints Authority, business, council, court, Government, industry, insurance, Insurance Council of Australia, interruption, meet, pandemic, prevention, quarantine, resolutionlast_img read more

150 Young “First Time Home Builders” to Benefit From A $1.5M Grant by Government

first_img Share Tweet One hundred and fifty (150) young persons are expected to benefit from “grants to first time home builders” which is being provided by the Government of Dominica.That announcement was made by Prime Minister Roosevelt Skerrit during his budget presentation for the fiscal year 2020/2021.He said Government will make possible an amount of $1.5 million in a bid to support persons under the age of 40 years, whose annual income is less than $100,000, and are interested in acquiring a home of their own.The Prime Minister said this support will be provided in the form of grant vouchers to a maximum of $10,000 per home for the purchase of building materials or to be put towards the transfer fees for the purchase of a new home.“To qualify, first time home builders, must present copies of building plans approved by the Physical Planning Division and must have commenced construction with the secured financing required to complete construction of the building where they intend to reside,” Skerrit said.He said, “In the case of first-time buyers of a home, notice of intention to sell must be presented along with evidence that financing has been secured. These grants will be available from October 1, 2020 and be administered by the Ministry of Youth Development and Empowerment, and is expected to benefit 150 of our young people.”The Prime Minister also says the Dominica Government is cognizant of the fact that it must create an environment to encourage people to build their own homes despite its expansive housing programme.“We have more than doubled the mortgage interest deductions allowable for income tax, have made funds available at the Government Housing Loans Board and at the AID Bank, for access by public officers and citizens in general.”Skerrit added, “Government is going further this year, and is providing for a temporary reduction in the fees related to the transfer of land. It is our desire that everyone, particularly our young people, will take advantage of the opportunity during this very favorable period, to invest in the purchase of properties and construction of their homes. 194 Views   no discussions Sharing is caring!center_img FeaturedLocalNewsPolitics 150 Young “First Time Home Builders” to Benefit From A $1.5M Grant by Government by: – August 7, 2020 Share Sharelast_img read more