SINGAPORE - A luxury resort in Phuket can claim insurance payouts for losses arising from Covid-19-related lockdowns after the Singapore High Court ruled that the resort's commercial insurers' policies should cover these losses.
In what is believed to be the first such ruling here on the interpretation of business interruption clauses in the context of the pandemic, Justice Pang Khang Chau found that QBE Insurance (Singapore) and MS First Capital Insurance are liable to indemnify the owner of Le Meridien Phuket Beach Resort for losses after it closed on April 7, 2020, on order of the Thai authorities.
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