Insurance: Crédit mutuel compensates business operating losses

Crédit Mutuel is launching a block in the pool of insurers: in reverse of industry practices, the mutual group will compensate its customers for operating losses suffered during confinement, as Le Figaro reveals . However, like the rest of the market, the operating loss guarantees sold by CIC and Crédit Mutuel Insurance (all bank federations, except Arkéa), do not cover the risk of pandemic.

Read also: Coronavirus: should you be wary of banknotes?

The French supervisor of finance (ACPR) also called on Tuesday the sector to be cautious, saying that the resources of insurers can not be used to cover risks, such as the pandemic, excluded from contracts, except to weaken the companies. Business operating losses are estimated by the sector at 60 billion euros.

Up to 20,000 euros

But Crédit Mutuel considers itself sufficiently armed to circumvent the obstacle. In May, it will pay the 30,000 traders, artisans and businesses insured at home a "mutual recovery stimulus premium."

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