The Cologne district court has ruled that AXA's termination of the cancellation insurance for the 2002 FIFA World Cup in Korea and Japan was unlawful.
According to a report, the court also ruled that, as the lead of the consortium of 63 insurers, AXA was liable to pay FIFA compensation amounting to its own participation quota of around 20%.
The report said the other insurers were liable to pay compensation on a pro rata basis.
FIFA said it would examine the necessary steps it needs to take against the joint insurers.
AXA had terminated the insurance cover for the World Cup after the 11 September attacks in the US. The Cologne district court ruled that AXA terminated the policy unlawfully and negligently, and that the termination of the contract was a breach of good faith.
