Hi everyone, first of all I hope everyone is safe and nicely tucked in inside your homes? After that first ‘panic week’ things are starting to settle down and we see the near future with more clarity.
But the question of ‘who will pay’ remains quite important and I wanted to share a couple information I’ve received from both the insurer’s union(s) and the entrepeneur’s union (Medef) that I’m part of.
In regard to small businesses that are insured for loss of income (perte d’exploitation in French), that kind of event is related to war (as Macron like to remind us) and therefore is automatically excluded BUT the union and some big insurers (MMA, AXA, etc.) have already started to consider paying out even though it’s supposed to be excluded. So for those insured they should be roughly okay.
But what about the micro entreprise, self-employed and small businesses that can no longer work because they’re on house arrest? The line is not crystal right now when it comes to insurers but there are active discussions to consider everyone on a ‘sick leave’ and payout the individual loss of income cover (if they have any). For those without private cover they’ll still have the CPAM’s cover but I won’t lie this won’t be huge in that case.
Anyway, that’s what we know right now and I thought this might be useful to some in these dire times.