AXA ordered to pay for a restaurant in France

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A Paris court ruled that AXA should pay the restaurant owner two months of lost coronavirus revenue after the restaurant owner took legal action demanding that the insurer cover the operating losses suffered due to the Covid-19 pandemic.

The Reuters report said: “A Paris court ruled that the insurer AXA [AXAF.PA] has to pay the restaurant owner two months of lost coronavirus revenue, lawyer for the restaurateur said on Friday, potentially opening the door to a wave of similar litigation.

“The decision will affect restaurants, cafes and nightclubs in Britain and the United States, which are also threatening legal action against insurers who have not paid out of business interruption policies. Axa has said he will appeal.

“The case was brought up by Stéphane Manigold, owner of four Parisian restaurants. He filed a complaint demanding that AXA cover its operating losses after a government order in mid-March to close bars and restaurants to slow the spread of the coronavirus. “

You can read the full article here on Reuters.

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