Back in court - UK hospitality groups take on insurers over lockdown losses

Some of the world's biggest insurers are bracing as a second wave of multi-million pound lawsuits, brought by struggling British pubs, restaurants and bakery chains over lockdown losses, starts hitting London's courts next week. Zurich, MS Amlin, Liberty Mutual, Allianz and AXA are among those due in court one year after Britain's Supreme Court ruled that many insurers had been wrong to deny thousands of companies, battered by the COVID-19 pandemic, business interruption payouts. Insurers have since paid out 1.3 billion pounds ($1.8 billion), according to the Financial Conduct Authority. But the ruling did not cover all policy wordings and, where it deemed claims valid, some companies are now disputing payout levels.