Court rules in favor of Axa in COVID BI cases
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France’s Court of Cassation has ruled in favor of French insurer Axa SA, backing the company’s refusal to pay out restaurateurs for business interruption losses resulting from the COVID-19 pandemic and related administrative orders for closure, Time News reported. The court overturned four Aix-en-Provence Court of Appeal decisions, saying that Axa’s contract included a clause to deny payouts if “another establishment is subject to an administrative closure measure for the same cause.”
