Law firms representing clients in the battle over covid-related business interruption losses still believe valid claims can be made, even after insurers emerged ahead in a key appeal ruling last week.

As reported in a Breaking News update last Monday, the Full Court largely upheld the findings of an earlier Federal Court decision in the second industry test case, which favoured insurers.

But a further appeal to the High Court is still possible, and lawyers say there could still be “thousands” of valid claims.

Berrill & Watson Principal John Berrill says it should be remembered that the claims examined through the test case process were selected by insurers.

“There is a tyranny of time here. It has been two years now,” Mr Berrill says. “Some [claimants] have just moved on and some of them have gone broke, but there are thousands of viable claims out there.”

Gordon Legal and Berrill & Watson have commenced class action proceedings against QBE and Lloyd’s underwriters and Slater & Gordon has filed actions against IAG and Hollard. A case management hearing for all four matters is scheduled for April.

See Analysis.