Posted on Oct 15, 2020 at 6:45 p.m.Updated Oct 15, 2020, 9:11 PM
The curfew brings the subject back to the fore. On the eve of the entry into force of new restrictions to combat Covid-19, the Minister of the Economy and Finance, Bruno Le Maire, announced Thursday that a “New insurance scheme for companies in the event of health disasters” would be finalized ” in the next weeks “.
“We are on something that can accompany the end of this crisis and for the next one”, we complete at Bercy. Hoping to make this system operational in 2021, the executive intends to exchange views on Friday with insurers and company representatives.
The authorities would welcome a device focused on VSEs and SMEs affected by administrative closures. “Cover 100% of losses, this is not possible”, insists Bercy, however, evoking a “More capped, more flat”.
A real puzzle
The idea of creating a new insurance scheme relying in part on the state, as is the case for covering natural disasters, dates back to the spring containment. This sparked heated debates on the role of insurers. Companies affected by administrative closures would have wanted to obtain compensation for their losses.
Insurers retorted, however, that most contracts were not designed to protect in this situation. Above all, covering all the losses linked to the Covid would bring the sector to its knees, according to its representatives.
Faced with the anger of companies and aware of the limits of insurance, the government launched a working group in April to try to learn the lessons of the crisis and better cover “exceptional risks”, such as pandemics.
This work should first make it possible to “Validate proposals in the summer”. Discussions with businesses and insurance companies were the subject of a report published this summer and were followed by consultation with businesses. So far, however, these exchanges have not led to a consensual solution.
It must be said that the creation of a new regime is quite a puzzle. It stumbles in particular on the question of financing ” Are we moving towards a mandatory guarantee or not. This is the main question that we must deal with companies », Indicates Bercy. Another crucial issue is that of risk sharing between insurers and the State.