Albingia to pay a compensation for HHP Hotels

JusticeAlbingia, a French insurance company specialised in business risks, has been ordered by the Nanterre Court to pay a compensation to five of the HHP Hotels for the business interruption losses.

The court has ordered a preliminary payment of 450 000 EUR (527 730 USD) for the damages sustained during lockdown. It shall also appoint experts to assess the total damages incurred by HHP Hotels, a decision against which Albingia intends to appeal.

Due to the Manigold case, the cover for business interruption without material damages is likely to cause significant losses to the French insurers.

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