AXA to give boost to SMEs on back of court case

It sets aside some sizeable financial aid

AXA to give boost to SMEs on back of court case

Insurance News

By Paul Lucas

The insurance industry may be under fire for its refusal – in some cases – to not pay COVID-19 linked business interruption claims, but it is pulling out the stops for SMEs in other ways.

For proof look no further than AXA chief executive Thomas Buberl’s announcement of a further 500 million euros to assist SMEs in France, revealed today.

However, the insurer still faces criticism over its COVID-19 claims response in its home country.

Speaking on RTL radio, the CEO outlined that the insurer was hoping to reach a deal in a dispute with the owner of a restaurant in the country – just last week, according to the restauranteur’s lawyer, it was ruled by a court in Paris that AXA had to pay the owner for two months’ worth of revenue losses, potentially opening the door for a host of similar litigation, Reuters reported.

In his radio discussion, Buberl noted that he was “very confident” that a solution would be found.

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