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Greggs sues Swiss insurance company Zurich for £100m over COVID-related payout
The bakery giant claims that Zurich improperly capped the insurance payout at £2.5 million.
Greggs has launched a £100 million (US$137 million) lawsuit against Swiss insurer Zurich Insurance Group following a disagreement over a COVID-related payout.
The Sunday Times first reported that the bakery giant, which has more than 2,000 shops across the UK, claims that Zurich Insurance improperly capped the insurance payout at £2.5 million for business losses it suffered due to government-imposed lockdowns and store closures.
In January, the UK’s Supreme Court rejected an appeal by insurers against COVID-19 payouts, ruling that in most cases insurers should pay up for business interruption costs.
