AXA will honour business interruption claims arising from this pandemic where our customers’ insurance cover includes it. However, AXA cannot pay for claims beyond those which it is not contractually obliged to do so, as the financial impact would be catastrophic, and we also have obligations to ensure the solvency of the company for all customers.
To assist you in advising your Commercial customers as to their Business Interruption cover with AXA, we can confirm that your customers who hold an AXA Shop, Office and Surgery insurance policy have an indemnity to COVID-19, through a standard extension covering business interruption for Murder, Suicide or Disease. This cover protects your customers from interruption caused by an outbreak of a notifiable disease within a radius of the insured property. Cover is for loss of gross profit, less any reduced expenses and is for up to a maximum of 3-month, subject to the policy terms and conditions and our normal claims handling processes.
Unfortunately, all other AXA Commercial Property policies provide cover based on a specified list of diseases and these policies do not provide Business Interruption cover for COVID-19.
We will therefore honour our commitment to your customers who hold an AXA Shop, Office and Surgery insurance policy for the COVID-19 event in March. However, we are sorry to advise you that in respect of this product we have withdrawn this element of the Business Interruption cover from all New Business with effect from 11th March and from all policies at next renewal date, commencing from May 2020. The Business Interruption cover on the AXA Shop, Office and Surgery policy was intended to cover localised events, which impacted individual businesses, and we are unable to secure reinsurance cover in future for Business Interruption from a pandemic outbreak.
If you have a claims query relating to Business Interruption, please call the SME claims team on 018 583 233.