Covid-19: Axa announces an envelope of "300 million euros for 15,000 restaurateurs"

INTERVIEW

300 million euros for an amicable resolution. The insurer Axa announced on Europe 1 and

Thursday morning an envelope of 300 million euros to compensate the 15,000 establishments under contract in 2020 which closed due to health restrictions linked to Covid-19. Nearly 1,500 restaurateurs, holders of an insurance contract with a guarantee of operating losses without damage, had taken the insurer to court to obtain compensation. "Today we are at a key moment in France. We want to support our customers in this reopening", explains Thomas Buberl, CEO of Axa on Europe 1. 

"I regret everything that happened, because we were divided with the restaurateurs because of a misunderstanding. The courts of appeal have ruled in several directions and we want to put that behind us", continues the manager, announcing " 300 million euros for 15,000 restaurateurs who are Axa customers ". 

It is this operating loss guarantee that is controversial. It provided for compensation in the event of an administrative closure resulting from "an epidemic", but the contract also included an exclusion clause if "at least one other establishment in the department" is administratively closed for the same reasons. Until now, Axa has refused to compensate for the operating loss because, according to the insurance, the contract does not cover epidemics of global or national scope. In this legal battle, judgments were handed down both in favor of the insurer and in favor of restaurateurs, as in Aix or Bordeaux. 

"This solution of 300 million is not compensation", however assures Thomas Buberl. "It is a transaction to put an end to this legal vagueness that we have experienced". All 15,000 restaurateurs are affected, including those who have not taken legal action or those who have lost.