Coronavirus now a listed disease under the Biosecurity Act (2015)
First up, the Coronavirus now has an official title. That is COVID-19.
I have been keeping a watch on when the disease becomes notifiable, but this has really been a painful exercise. I have now worked out what used to be called “notifiable” diseases are now referred to as “listed” diseases.
Just in case you missed it, the Coronavirus (COVID-19) is a listed disease under the above mentioned act. I may stand corrected but I believe it became a listed human disease on 31 January 2020. See here for the full list.
This automatically invokes an exclusion found in many general insurance policies which cover closure by public authority due to a human infectious disease.
As I explained last week, some insurance policies in the Australian market have not been updated the wording to reflect the abolition of the Quarantine Act (1908) as amended.
A list setting the position on this issue for a great deal of policies in the Australian market is available to subscribers by conducting a product feature comparison in LMI PolicyComparison.com.
This may prove problematic for those insures for the reason I articulated in my previous post.
Preliminary legal advice shares my concern on this issue.
The World Health Organisation has warned that the virus may cause more problems to the world economy than terrorism.
The other news on the virus is that it is expected, at this stage, to take 18 months before a vaccine will be available.