After the Christmas rush, tranquility seized the establishments of Stéphane Manigold, a French businessman who runs the Substance, he Contrast, the Rostang House, and the Bistro next to Flaubert in the French country. He did not imagine what March would bring, let alone the legal battle he would have with his insurer soon after.
With the arrival of the coronavirus crisis, Stéphane had no choice but to interrupt service at his four stores. His turnover fell sharply and he began to look for solutions that would allow him to reopen as soon as the measures of confinement and social distancing became more flexible.. For this it would be necessary to be in the best possible economic situation, and hence investigated what compensation was due to him according to the contract signed with your insurer.
To faint Stéphane, The company with which he had contracted the insurance indicated that there was no clause that would protect him from the current situation.. AXA, one of the largest insurers in France, evaded his responsibilities claiming that the assumption of a pandemic was not explicitly included in the document.
Perplexed, Stéphane decided to fight and brought AXA to court in Paris, and there it was ruled in favor of the restaurant professional.
The case is interesting because it opens the door for many other businesses in the sector to benefit from similar sentences.. The precedent set in Paris has already resonated in the media and among those affected by the lack of coverage by insurers.
In France, AXA is committed to serving the cases of other restaurants in similar situations. Despite this apparent act of good faith is the fact that the company will appeal the sentence forcing the company to pay the restorer an amount equal to the expected benefits during the two months in which the coronavirus pandemic affected Stéphane's business.
Manigold has thus become a light of hope among restorers who have felt abandoned by their policies.. Messages come down from the most unusual corners of the world to the manager, and Stéphane himself claims that he receives frequent emails from professionals in the sector based in countries such as the United Kingdom, Spain, OF. THE. o South Africa, who are interested in knowing the details of their contract with AXA to find out if they have the possibility of being compensated by their local insurers.
"This decision in Paris resonates globally", ecstatic comments Stéphane Manigold. And he's right, in EE. THE. and the United Kingdom professionals from the world of restaurants are already organizing. They intend to knock down the Goliath from the insurers through associationism. As indicated by Manigold's lawyer, Anaïs Sauvagnac, "This means that all companies with the same clause can send appeals to their insurers".
A) Yes, it seems quite likely that restaurants have been fortunate enough to have the ambiguous source of discord (only 10% of the contracts with restaurants include it, according to comments issued by AXA), receive compensation to help you move forward with your business.
According to some analysts, legal battle between AXA and restaurants could be the prelude to something bigger. Heeding the expert opinion of Benjamin Serra, representative of the famous Moody’s rating agency, It is not unreasonable to think that the national regulatory agencies force the insurers to maintain an additional compensation fund to face this type of catastrophic assumptions.. It, Of course, will be detrimental to the benefits that insurers will receive this year.
In the United Kingdom, the nation's financial managers have already begun to move in this direction. And is that ensuring that the country's business fabric resists the coronavirus crisis has become a top priority now that the number of infections and deaths caused by the pandemic falls.
In a country like Spain, where establishments dedicated to catering represent a not inconsiderable percentage of the country's economic fabric, It is foreseeable that solutions in this sense will also be observed and demanded. It is up to professionals in the sector to demand them.