PARIS: AXA said on Tuesday it would meet the bulk of claims from some restaurant owners after a Paris court ruled last week the French insurer should pay one owner two-months' worth of coronavirus-related revenue losses.AdvertisementAXA also said it would provide a further 500 million euros in aid for small companies.
Chief executive Thomas Buberl said AXA planned to compensate business interruption losses to the majority of restaurant owners whose contracts were similar to the one studied by the court. "These contracts represent less than 10 per cent out of total contracts with restaurant owners and I am confident that we will find a solution," Bubbler said.AdvertisementFrench insurers have already announced plans to invest 1.7 billion euros in domestic companies, particularly in the hospitality sector. AXA said on top of that, it would invest 500 million euros in the capital of small and mid-sized companies.
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