This probably depends on the insurer. Has it been tested ?
Virgin Australia continued to operate but they actually ceased flying.
So put it anther way in this story it would be RIGHT for a insurer not to honour an insurance claim due to T&C’s but WRONG for
Virgin Australia not to give a refund after voluntary administration which was a process which doesn’t cater for unsecured creditors?
Cause to me that’s a bit dual standards.
Also what about the companies who lost millions or dollars? Or people who lost thousands in shares etc?