Lloyd's Insurer Settles Holiday Park's £79M COVID Suit

By Silvia Martelli (November 17, 2021, 5:09 PM GMT) -- A U.K. holiday park operator has reached an agreement to end its £79 million ($106 million) lawsuit against a Lloyd's of London syndicate to recoup some of the money it claims to have lost as a result of the pandemic.

High Court Judge Neil Calver signed off an agreement in a Nov. 10 consent order, which has now been made public, resolving a case brought by Parkdean Resorts UK Group to force Axis Managing Agency Ltd. to honor a business interruption policy.

The order allowed the withdrawal of the claim and said the two sides had "agreed terms." The details of the...

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