Property Investor Sues AXA For £2M Over Fire Damage

Law360, London (September 14, 2020, 6:18 PM BST) -- A property investor has sued AXA for £2 million ($2.6 million) after the insurer allegedly refused to pay out for two Glaswegian retail units that were damaged in a fire because the upper stories were occupied by a nightclub and a hotel.

Gold Care Hotels Ltd. said in its High Court suit that AXA Insurance UK PLC should fork out under a November 2018 policy for the approximately £1.5 million that it paid to demolish and rebuild the two properties after the March 2018 fire. The insurer should also pay out £437,000 for loss of rent, the property investment company said...

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