Stonegate, a British brewery chain, has initiated legal proceedings against three of its insurers, i. e. Zurich Insurance, Liberty Mutual and MS Amlin.
In case of a win, the plaintiff could receive up to 1 billion GBP (1.2 billion USD) in compensation for the operating losses sustained during the health crisis and its consequences which could last until April 2023.
According to the insurers, Stonegate was covered against business interruption up to 2.5 million GBP (3.07 million USD), which it has already collected. The documents presented to the court also attest that the insurance companies have paid 14 million GBP (17.18 million USD) to the pub chain and that their liability is limited to 17.5 million GBP (20.9 million USD).
Since the trial of the restaurant owner Wolseley who won his battle with Axa in February 2022, insurers are expecting a new wave of claims for business interruption losses without material damage. In addition to the Stonegate trial, two other major cases are expected in July 2022. They will bring the restaurant owner Greggs to Zurich and Various Eateries to Allianz.
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