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Coronavirus: insurers mobilise and announce new exceptional measures to protect the people and businesses most seriously affected by the Covid-19 virus

Coronavirus: insurers mobilise and announce new exceptional measures to protect the people and businesses most seriously affected by the Covid-19 virus

Following the emergency measures announced last week, and those put in place by its members on an individual basis, this morning the FFA presented new solidarity measures to Mr Bruno Le Maire, Minister for the Economy and Finance.

The FFA’s members are committing to contribute 200 million Euros to the Solidarity Fund set up by the public authorities to support micro-enterprises and the self-employed, sectors that have been particularly affected by the economic, financial and social consequences of the Covid-19 virus. This support measure for micro-enterprises and self-employed workers follows the commitment made on 19 March to keep cover in place for businesses in difficulty throughout the whole of the lockdown period if they are late in paying their premiums because of the pandemic.

The FFA’s members are also committing to defer rental payments for SMEs and micro-businesses belonging to one of the sectors in which activity has been suspended under the order of 15 March 2020. 

In addition, as a measure of solidarity with vulnerable people (those with a long-term health condition and pregnant women) who are certified unfit to work under the derogatory procedure put in place today by Social Security, insurers will pay the daily sickness benefit under their insurance contracts. This measure, which will represent an exceptional expense for the sector, will apply from today for up to 21 days’ absence from work, on the same conditions as sickness absence certified by a doctor.

Finally, insurers are keen to take part in discussions on the creation of an insurance-type system that will be able to act in a future major health crisis.

According to Florence Lustman, president of the French Insurance Federation: “In this unprecedented global health and financial crisis, insurers’ priority is to continue to work in order to provide their customers with the best possible protection. Insurers are committed to being part of the national solidarity movement, alongside the public authorities, to come to the aid of the most vulnerable people and businesses. Everybody has a duty to join this movement of national unity so that together we can emerge from this crisis as soon as possible”.