UK Baker Greggs Files $137M Claim Against Zurich Over COVID-19 Payout

UK baker Greggs Plc filed a $137 million (£100 million) legal claim against Switzerland’s Zurich Insurance Group in a disagreement over a pandemic-related insurance payout, according to a report in the Sunday Times.

The chain claims it is entitled to that amount of compensation for when its stores had to close during government-enforced lockdowns last year, but Zurich thinks Greggs is only entitled to $3.4 million (£2.5 million), according to filings lodged in the High Court last week, the paper said.

In January, the UK Supreme Court rejected an appeal by insurers against COVID-19 payouts, ruling that in most cases insurers should pay up for business interruption costs.