Court ruling favors insurers over COVID-19 related BI payouts

A federal court in Karlsruhe, Germany, ruled that insurers are not automatically liable for insurance payouts to restaurants and hotels for the loss of business due to the COVID-19 lockdowns, Reinsurance News reported citing NDR and Handelsblatt. The ruling comes after a German restaurant sued France-based Axa S.A. for refusing to compensate for lockdown-related business loss in 2020 under a policy for business closures.