Significant events after the reporting date

In early March 2021, the Austrian Supreme Court ruled in favour of the insurance industry in connection with business interruptions arising from Covid-19. In this decision, the Court clarified that a coverage obligation on the part of the insurer from the business interruption caused by the epidemic only applies in the case of a business closed due to the Austrian Epidemic Act, but not based on a ban on entry and access ordered under the Austrian Covid-19 Measures Act. This is expected to have a positive impact on claim payments in the 2021 financial year.