After the riots, the lack of insurance
New Caledonia continues to heal the wounds of an economy grounded between May and December 2024. With insurers threatening to pull out of the increasingly risky French overseas territories, hope could come from a reform of New Caledonian insurance law, which has so far closed off the market more than it has taken account of local particularities.
(Translation of the article from La Tribune de l'Assurance magazine)
MGA : the all-risk agency
Rapidly expanding in France, Managing General Agents bring added value to the market in general and to insurers in particular, notably in risk management, underwriting and the development of customized solutions. Their expertise enables them to address niche markets that escape the reach of traditional insurers.
(Translation of the article from La Tribune de l'Assurance magazine)
Los Angeles wildfires: what if it had happened on the Côte d’Azur?
50 billion dollars worth of damage, 12,000 buildings burned, 180,000 people evacuated, the Getty Museum’s collection threatened,… and as if that weren't enough, could the bears, that had taken up residence in a Californian house abandoned by the victims, had exacerbated the damage ? If California were the Côte d'Azur and the Californian administration were the French administration, what would be the consequences in French insurance law for a similar catastrophe ?
Fires caused by lithium batteries: how to insure efficiently ?
Les incendies et sinistres liés aux batteries fonctionnant au lithium sont si nombreux qu’ils ne peuvent être ignorés ni par les assureurs ni par les assurés.
Reinsurance captives of French companies: technical and legal practical work
Last November, the Prudential Control and Resolution Authority published its guide to reinsurance captives. This new risk and insurance management tool for companies, on which our firm has been working with the authorities since 2021, is developing rapidly for the benefit of French companies.
New Caledonia / Insurance for the riots of 2024
Eight months after the riots that ravaged this antipodean French territory, insured companies are facing up to their insurers.
Liability insurance for consulting firms: beware of the classification of indemnities paid to a dissatisfied customer !
Beware of non-liability insurance in the event of termination of the service contract. Our article with Professor Pillet.
Litigation funding : insurance in focus
It's a far cry from the American nuclear verdicts, but it's still a heavy price to pay on France's modest scale. The two lockdowns following the Covid-19 pandemic brought the French economy to a standstill. By decree, places open to the public, including the retail and catering sectors, were forced to close store.
Please note! You may be unaware that your insurance contracts are subject to the French Public Procurement Code !
In principle, companies, as legal entities under private law, are exempt from the provisions of the French Public Procurement Code (Code de la commande publique), which stipulates that insurance contracts must be put out to tender. However, you could be one of the exceptions... European legislation has extended the scope of application of the aforementioned code by laying down certain conditions.
Insurance against losses linked to Covid and clauses concerning the administrative closure of businesses. The Court de Cassation settles the debate in favour of policyholders
Clearly, in unprecedented situations unforeseen by risk professionals, doubt has benefited insurers... until recent rulings by the Cour de cassation. During the Covid crisis, although some restaurants and shops were able to call on their cover, insurance companies refused to consider the Covid decrees as constituting ‘closures’ within the meaning of the insurance contracts that provided for them, thereby depriving these businesses of compensation.
MGA’s Global Study #2
We continue our study of MGA’s, which began in June 2024, in the Americas and Africa.
MGA’s (Managing General Agents) are a fast-growing category of insurance intermediaries in Europe. However, this model originated in Anglo-Saxon countries, particularly the United States, where the legal framework and practice are far more developed.
Arbitration clauses in brokerage agreements : the art of writing to do nothing
Arbitration clauses are becoming increasingly common in brokerage agreements between policyholders and brokers, and between brokers and insurers, yet they are not always applicable in practice.
New Caledonia: The Minister of the Economy to meet insurers next week
The New Caledonian Chamber of Commerce and Industry already puts the cost of riots in the archipelago at 200 million euros. The problem is that insurers have reduced their levels of cover for this type of risk, and some may invoke “civil war” as a reason not to compensate their clients.
Business interruption: MMA insurer ordered to compensate for Covid-related loss of business
The French Supreme Court upheld a ruling by the Angers Court of Appeal, and ordered MMA to compensate an insured for damage to his clientele during the health crisis. The policy in question provided “all risks except” coverage.
Aljadeed TV welcomes the result of our action that grants French depositors the right to act against Lebanese banks before French courts.
Thanks to our colleague Karim Daher for displaying this outcome.
The “BSA AIR”, a method of financing start-ups in times of uncertainty.
Created by the North American practice of financing start-ups, the Simple Agreement for Future Equity (SAFE) based warrant, BSA AIR in French (for Bon de Souscription d’Actions fondé sur un Accord d’Investissement Rapide) quickly crossed the Atlantic. Seductive by its ability to attract new money in the company, the tool has some limits.
Opening up of class action, a proposal under discussion.
The locks on class action have worked too well and the procedure has not been successful at all. The need to transpose European Directive 2020/1828 has led to a reform of the texts.
Aljadeed TV welcomes the result of our action that grants French depositors the right to act against Lebanese banks before French courts
Les déposants des banques libanaises sont tous signataires d’une convention d’ouverture de compte les contraignant à régler leurs différends devant le juge libanais. Les banques libanaises redoutent le procès à l’étranger et s’y opposent par le jeu de la clause attributive de juridiction. Une avancée a été obtenue pour les déposants sur le fondement de l’article 14 du code civil.
Ordering insurance for public authorities : an often overlooked pitfall
Beware of the insurer's right to terminate a claim during the term of the contract...
The MGA (Managing General Agent), a hyper-intermediated insurance marketing method
We begin with an overview of this fast-growing insurance player.
Cyber insurance: insurance and criminal law practice
My article with Armand Feste-Guidon, criminal lawer.
The challenge for local authorities to obtain insurance
Insurance coverage has become a real challenge for local authorities. Integrating and mastering the rules of public procurement is crucial.
Jérôme Goy & ENTHEMIS among the 8 5-star firms in the Statista Le Point ranking of the best ‘Insurance Law’ law firms 2024.
The “Insurance Law” practice led by Jérôme Goy once again distinguished in the list of the best law firms 2024 by Statista LE POINT.
Managing General Agent (MGA)
An insurance distributor in full expansion facing the limits of the law After Anglo-Saxon insurance, the distribution model of the Managing General Agent (MGA) is booming in the French market. Let's review the advantages as well as the limitations of these new types of distributors, which until now have the status of brokers under regulation.
The MGAs, these unidentified intermediaries
Coming from across the Channel, Managing General Agents (MGAs) are becoming increasingly prevalent in France. An insurance intermediation practice that is not recognized, but claimed by certain insurtech companies.
MGAs, Affinity Brokers : Why More Bankruptcies?
To those familiar with the economic model of insurance brokerage, bankruptcy and judicial liquidation seem hard to imagine. However, the notable cases of SFAM and Luko, among others, have left a significant impression on the insurance industry microcosm.
Insurance distribution: The regulatory net tightens further around the status of regulated intermediaries
Commentary on the judgment of the Court of Justice of the European Union, of September 29, 2022, no. C-633/20
Insurtech and MGA’s
The application of 1935 brokerage practices to MGAs and international adhesion contracts: the Paris Commercial Court ruling of October 2, 2023
Covid Losses and Insurance
The Court of Cassation Opens Two Additional Doors for Insured Businesses
Does the presence of a “rider broker” in the insurance policy work to the insured’s disadvantage ?
A number of recent court rulings have held that the presence of an "rider broker" means that the insurance policy is no longer a contract of adhesion but a contract of mutual agreement... to the detriment of the policyholder. My article with Elodie Le Prado in the Tribune de l'Assurance
Batteries put risk under tension
Fires in electric vehicles are a cause for concern for sea carriers and logisticians. The reason is that lithium-ion batteries are likely to self-combust in circumstances that are difficult to determine. Insurers and brokers are urging companies to combine prevention, training and good practice during transport and storage.
Arbitration over a $15 billion sultanate: on 6 February 2023, the Paris Court of Appeal refused to grant exequatur to the heirs of the Sultan of Sulu
The Paris Court of Appeal dismissed the Sultan's heirs' application for enforcement of an arbitral award in their favour, sidestepping the question of whether the dispute between the Sultan's heirs and Malaysia over rights to the territory of the former sultanate could give rise to arbitration.
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.
The CSRD directive concerning the reporting obligations of companies in terms of “sustainability” will disrupt the economy.
The CSRD directive increases companies' "Environment, Social and Governance" disclosure obligations and extends its scope to small and medium-sized structures, which will disrupt the economy.
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?
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 ?
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.
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.
Companies 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.
Insurance 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.
Sanctions and counter-sanctions, what remains of trade with Russia?
Two nations negotiating together make each other mutually dependent… The natural effect of trade is to bring peace, Charles de Montesquieu.
Business 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.
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.
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.
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.
“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 ?
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.
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
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.
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.
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.
Crédit Mutuel has opened Pandora’s box for insurers (Free translated synthesis)
Jane Grandin de l’Eprevier – 05/05/2020
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.
Intervention of Jérôme Goy on Sud Radio (Free translation)
With Philippe David
“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”.
From 5 to 7 June, Lynda Saouli, Amélie Cormouls and Jean-Marie Léger will be attending PixDay 2019, the only French trade show for professional buyers and sellers of photos and videos, and CEPIC, the global event for picture industry professionals.
Lynda Saouli, Amélie Cormouls et Jean-Marie Léger participeront du 5 au 7 juin prochain au PixDay 2019, le seul salon français de rencontre entre les vendeurs et les acheteurs professionnels de photos et de vidéos, ainsi qu’au CEPIC, salon mondial des agences de photos et vidéos.
On 22 May 2019, Jérôme Pétrignet will be speaking at a conference organised by Elegia on France’s “Action Plan for Business Growth and Transformation law and the social dimension of business” alongside Pauline Abadie and Patrick d’Humières.
Jérôme Pétrignet intervient le 22 mai 2019 dans le cadre d’une journée d’actualité organisée par Elegia sur le thème : « Loi Pacte et dimension sociétale des entreprises » aux cotés de Madame Pauline Abadie et de Monsieur Patrick d’Humières.
ENTHEMIS advises a hotel chain on securing funding from an investment fund to finance a hotel acquisition (business and premises) in Grenoble
French law firm ENTHEMIS has assisted a hotel chain on signing an agreement to purchase a hotel business and premises in Grenoble city centre
Jérôme Pétrignet will be speaking at the CLENAM and CRA conference on 1 April 2019 about certain aspects of business buyouts. He will particularly address the question of protection under an assets and liabilities guarantee
Jérôme Pétrignet intervient à l’occasion de la conférence organisée le 1er avril 2019 par le CLENAM et le CRA sur certains aspects choisis de la reprise d’entreprises. Il intervient plus particulièrement sur le thème : Est-on bien protégé avec une garantie Actif Passif ?
On 10 April, Jean-Marie Léger provides training on the legal framework of sales promotion and events to managers of a retail chain.
Jean-Marie Léger anime le 10 avril une formation sur l’encadrement juridique de la promotion des ventes et des animations commerciales au profit des gérants et responsables d’une enseigne de la distribution.
On 15 April, insurance and affinity distribution expert Jérôme Goy attends the Sciences Po Alumni Association and X Assurance dinner with André Renaudin, CEO of AG2R La Mondiale Matmut
Jérôme Goy, spécialiste de la distribution d’assurance et affinitaire, participe le 15 avril au dîner des Alumni Sciences Po et X Assurance avec André Renaudin, Directeur Général d’AG2R La Mondiale Matmut
On 23 May at the FFA (French Insurance Federation), Jérôme Goy will take part in the round table on “Regulation as a source of innovation in insurance”
Jérôme Goy participe le 23 mai à la FFA (Fédération Française de l'Assurance) à la table ronde "La réglementation au service de l’innovation dans l’assurance?"
On 11 July 2019, Jean-Marie Léger will be providing training on the breakdown of business relations between a communication agency and its customer, organised by COM&ENT, France’s leading professional corporate communication organisation.
Le 11 juillet 2019, Jean-Marie Léger animera une formation consacrée à la rupture des relations commerciales entre une agence de communication et son client, formation organisée par COM&ENT, 1ère organisation professionnelle de communicants et communicantes en France.
