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Business interruption: 80% of restaurant owners accept AXA's friendly solution

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Magazine Issue: 
Reinsurers in control [3]
Magazine date: 
Nov 2021
AXAAs of 15 November 2021, 80% of AXA's 15 000 restaurant owners have agreed to the amicable settlement proposed by the insurer.

The company has committed to pay a total of 300 million EUR (337.861 million USD) in June 2021 to the restaurant owners who have sustained business interruption losses due to Covid-19.

The out-of-court dispute resolution process initially ran from 21 June 2021 to 30 September 2021. However, the deadline has been extended by a few weeks to 15 November 2021.

Read also | Non-physical damage business interruption coverage [4]

Thu, 25/11/2021 - 14:36

Source URL: https://www.atlas-mag.net/en/article/business-interruption-80-of-restaurant-owners-accept-axa-s-friendly-solution

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[3] https://www.atlas-mag.net/en/issue/atlas-magazine-n-185-november-2021
[4] https://www.atlas-mag.net/en/article/pandemic-threat-and-coverage-for-business-interruption-with-no-material-damage