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IAG's billion-dollar pandemic risk is far from resolved

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In May, The Australian Financial Review received a call from a disgruntled entrepreneur in Sydney, Michael Herrmann, who ran a small business offering mostly overseas tourists bike tours of the city.

Mr Herrmann's revenue had dried up almost overnight, thanks first to the ban on international flights, and then the local lockdown. Naturally, he quickly got out his insurance policy to see if he could make a claim.

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James Fernyhough writes about telecommunications, insurance and financial services. He's based in the AFR's Melbourne office. Connect with James on Twitter. Email James at james.fernyhough@afr.com.au

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    Original URL: https://www.afr.com/companies/financial-services/iag-s-billion-dollar-pandemic-risk-is-far-from-resolved-20210103-p56rdz