Insurtech and MGA’s
From the application of brokerage practices from 1935 to MG’s and insurtech
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Jérôme Goy
PRACTICE AREAS
Jérôme is a recognized professional in affinity and international insurance distribution for trade associations, financial institutions and regulated professions. He formerly spent twelve years in the US broking firm Aon, where he was notably Managing Director France (2008 / 2013) and then COO Europe of Aon Professional Services (2010 / 2013), after working as a lawyer from 2004 to 2007 in the insurance department of Paul Hastings.
He has written numerous papers and articles on the future insurance backstop for pandemics, on the future French development of Insurtech companies, on the insurance in the M&A transactions or on COVID-19 Business Interruption Insurance claims. He also contributed to the writing of collective works on lawyers’ liability and liability insurance law in European Union countries.
Jérôme is a graduate of the Paris Institute of Political Studies (Economics & Finance) and holds a master’s degree in business law from Paris X university.
He was Delegate for Regulated Professions under the President of the Paris Bar Association (2016) as well as an active member of the EDC (Entrepreneurs et Dirigeants Chrétiens) movement and the Sciences Po Assurance Alumni association.
He co-founded Enthémis in 2019.
INSURANCE LAWBUSINESS SECTORS
- REGULATED PROFESSIONS, TRADE ASSOCIATIONS
Publications de Jérôme Goy
Covid Losses and Insurance
The Court of Cassation Opens Two Additional Doors for Insured Businesses
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Business interruption: AXA XL sentenced
The Commercial Court of Lille has ordered Axa XL to compensate a major clothing retailer for business interruption. The judges validated an extended warranty clause, which is particularly common in the retail sector.
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Energy shortages : which insurance coverage for companies?
Power outages, gas or other sources of energy shortages, have become a probable occurrence. This can have a major impact on some company businesses. What insurance coverage can be expected?
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Interview on captive insurers
Repoussée l’année dernière, la réforme de la fiscalité afin de favoriser l’implantation des captives d’assurance en France a été votée le 16 décembre par le Parlement : quel intérêt pour les entreprises ?
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2022 renewals: risky practices
The hard market experienced by the insurance industry since 2017/2019 has brought back into the picture some contractual practices that risk detractors should fear.
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Covid losses: After restaurants, pharmacists. The closing of borders constitutes a case of denial of access cover by the insurance policy.
Enthémis obtains the conviction of AXA on the basis of a ¨Difficult access to premises¨ clause.
Read moreCompanies hit by the sanctions due to the Russian-Ukrainian war: it is unlikely that the exclusion of insurance policies is valid. Which claim to declare?
Insurance policies covering business interruption sometimes include coverage for loss due to political sanctions.
Read moreInsurance policies termination update: a greater flexibility for the insured
A proposition recently made by the ¨Comité consultatif du secteur financier¨ (CCSF), a French consultative body tasked with submitting measures to improve the relations between banks and insurers and their clients, could lead to new ramifications on the French insurance sphere.
Read moreBusiness interruption: embarrassing rulings for insurers
Nearly two years after the outbreak of the Covid-19 crisis, insurers are still struggling with claims for business interruption suffered by companies due to the pandemic. Judges keep ruling in favor of insured companies, considering that they were covered against "business interruption" suffered as a result of the lockdowns.
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Business interruption: towards the multiplication of insured companies. Jérôme Goy’s tribune
Insurers won’t talk about it, but companies should be aware that there is only one month left before the statute of limitation expires for insurance claims related to business interruption.
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Business interruption: insurers under pressure!
A few weeks before the expiration of the two-year statute of limitation on business interruption coverage, this sensitive issue is coming back into the legal arena. The consequences for the insurers concerned could be massive.
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Originally from the United Kingdom, MGAs, or managing general agents, are increasingly present in the French insurance market, particularly in the world of insurtech, where some companies, such as Assurly, Luko and Zego, are using this status.
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Insurance contract renewals from January 1, 2022: limitations are already underway
Since the first semester of 2019, the insurance market started an upward trend in Europe: prices have increased, and covers have been more limited. In this context, insurance companies have been reviewing their contracts and programs to the detriment of policyholders, who experienced broader limitations and poorer covers since 2020. We published a synthetic study on this subject in May 2020; here is an update.
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“Pandemic insurance: the embalmer, the abbot and the gravedigger”. A column from Jérôme Goy.
Why should we not believe the fable that is told to us, or how the insurance of companies against the pandemic can only be a mutualised and generalised guarantee, and not an additional tax loophole ?
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The termination of an insurance contract: a fresh air within formalism
The insurance market has been growing steadily, as you know, for more than two years now. The trend will continue to intensify at the end of 2021 for the January 1st contract renewal season.
In order not to suffer from such important increases, which are often presented as inevitable, insured companies wishing to do so, must prepare before the summer the competition from their intermediaries (brokers and managers), before (or sometimes at the same time) that of insurers.
The MGA, a trendy (but not so new) beast Why?
On February 3rd, 2021, the underwriting agency Centrix announced its decision to join the Managing General Agents Association (MGAA) – the only association in the UK that represents and promotes the Managing General Agents (MGA) industry and its members. “A natural choice,” according to the newly created MGA (2019) fancying to expand its presence in the London market.
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Paris fantasizes the return of captive insurance companies
Le ministère de l’Economie aimerait que les grands groupes qui choisissent de s’assurer eux-mêmes – en
créant une captive d’assurance – le fassent en France plutôt qu’au Luxembourg
Why the consequences of a pandemic are not uninsurable (and should be insured)
Article published in Les Echos by Julien Aubert, Jérôme Goy and Olivier Marleix
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Second lockdown and business interruption insurance : companies must persist in the face of insurers
The second lockdown has stopped or considerably slowed down the activity of many economic sectors that had already been severely affected since the beginning of the covid-19 crisis. Many companies in most countries have already declared a claim to their insurer about the business interruption coverage provided in their insurance contracts.
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Business interruption insurance and coronavirus : insurers sentenced to cover companies’ losses in various countries
All over the world, the economic crisis unleashed by the outbreak of covid-19 is hurting economies, regardless of income level. According to World Bank forecasts, the global economy will shrink by 5.2% this year.
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Coronavirus and business interruption: hotels, restaurants, is there a loophole in your insurance policy? (Free translated synthesis)
Insurance companies are insuring that business losses related to the pandemic are not insurable. However, the contracts are ambiguous, particularly concerning coverage during administrative closures, and the article proposes the contracts of five French insurance companies.
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Crédit Mutuel has opened Pandora’s box for insurers (Free translated synthesis)
Jane Grandin de l’Eprevier – 05/05/2020
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After Covid-19: Business interruption insurance for companies (Free translation)
The Covid-19 crisis has forced many sectors to shut down, while other companies are suffering considerable losses in turnover.
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“Businesses: insurance companies and the state must take responsibility”. The opinion column of J. Aubert, O. Marleix and J. Goy. (Free translation)
The three signatories call for the “creation of a simple mechanism to guarantee business interruption losses in the event of a pandemic, based on the natural disasters one”.
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