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Covid-19: will insurers finally compensate closed traders?

2020-05-11T08:57:17.447Z


Pressure is increasing on insurers to cover part of the operating losses linked to Covid-19. This week


The operating losses during the two months of confinement are at the heart of the “virile” discussions under way between insurers and representatives of hoteliers and restaurateurs under the leadership of the public authorities. The creation of a specific fund or in the absence of new flat-rate aid, should be formalized this Thursday at the Interministerial Tourism Council.

To keep to this schedule, the government has set them until Monday, as the deadline for reaching an agreement. "Otherwise the legislative route would be a serious option," warns the government. For now, the French Insurance Federation (FFA), which has already released 3.2 billion euros in aid, refuses to hear about compensation. This would cost 20 billion euros per month, or "60 billion over three months" and would put the sector "on the ground", estimates the FFA.

"Insurers must participate"

Nothing to intimidate Bercy. In a letter published last week on social networks in response to the petition launched by the restaurateur Stéphane Jégo (nearly 140,000 signatures recorded), the Minister of the Economy, Bruno Le Maire drives the point home.

"Insurers must participate in this national solidarity," he insists. Certain insurance contracts provide for the management of operating losses in the event of administrative closure of activity or non-material damage: I invite you to read the conditions of your contract carefully, and if the terms mentioned are mentioned I mentioned just before, you must obviously be compensated without delay. We will make sure of it ”.

Long-awaited court ruling Tuesday

Whey for Stéphane Manigold who could not dream of better support in his crusade. This restaurateur has assigned his insurer Axa, who refuses to compensate for his operating loss: "My insurance policy expressly covers the administrative closure of my restaurant" linked to the Covid-19, he explains. Chance of the calendar, it is precisely Tuesday that the Paris Commercial Court must rule in summary proceedings on his case that he considers "exemplary".

"The insurers lied to us at the beginning of the confinement by making us believe that no operating loss was compensable because the pandemic risk is not insurable, launches the restaurateur, very upset. With my lawyer, we have reviewed more than 2000 contracts and in many of them, compensation for the loss of the merchant's gross margin is not only provided for in the event of administrative closure, but it even ranges from 3 to 24 months. according to the companies. Sure of his right, he would identify more than a hundred files similar to his.

"It's war within the Insurance Federation"

In the meantime, Bpifrance, the public investment bank, should publish its estimate of operating losses linked to Covid-19. These data are eagerly awaited by insurers whose units are starting to shatter. After BPCE and MAAF, Generali France has just agreed to compensate the operating loss of 600 of its hotel and restaurant customers. A strong and symbolic gesture when you know that the CEO of Generali France, Jean-Laurent Granier, is also one of the vice-presidents of the FFA ... And that's without counting the commercial gestures of "support" outside contracts granted by the Crédit Mutuel, Crédit Agricole and Société Générale Assurances groups.

"The front has cracked, it's even war within the Federation," worries one of them. All of them heat their calculators to assess what gesture or compensation they can make to come out of the conflict head up. This would be the case for Allianz who would work on exceptional aid.

Source: leparis

All business articles on 2020-05-11

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