A Paris court ruled that insurer AXA must pay a restaurant owner two months' worth of coronavirus-related revenue losses, the restaurateur's lawyer said on Friday, potentially opening the door to a wave of similar litigation.
) must pay a restaurant owner two months’ worth of coronavirus-related revenue losses, the restaurateur’s lawyer said on Friday, potentially opening the door to a wave of similar litigation.
The ruling will be of interest to restaurants, cafes and nightclubs in Britain and the United States which are also threatening legal action against insurers who have not paid out on business interruption policies.The case was brought by Stephane Manigold, who owns four Paris restaurants. He filed a lawsuit demanding AXA cover his operating losses after a government order in mid-March to close bars and restaurants to slow the spread of the coronavirus.
The court said the administrative decision to close the restaurant qualified for insurance cover as a business interruption loss. AXA said a small number of its clients in the French hospitality sector were covered for COVID 19-related losses because they bought a special policy. But most clients in the sector did not have that policy and did not quality for compensation, AXA said.
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