Insurtech and MGA’s
From the application of brokerage practices from 1935 to MG’s and insurtech
Insurtech and MGA’s
From the application of brokerage practices from 1935 to MG’s and insurtech
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? Is the presence of a broker’s rider a disadvantage for the policyholder?
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.