French court orders insurer Axa to pay restaurant's COVID-19 losses

A Paris commercial court has ruled that French insurer Axa will have to pay a restaurant owner two months' worth of coronavirus-related revenue losses, the restaurant's lawyer said on Friday.

Stephane Manigold, who owns four restaurants in Paris, had filed a lawsuit to force Axa to cover his operating losses following a government order to close bars and restaurants from March 14 to slow the spread of the virus. "This is a collective victory," he told Reuters.

The case potentially opens the door to a wave of litigation over business interruption insurance stemming from COVID-19 shutdowns.