Protect your business in France with insurance
As part of the development of your group, you have recently established a subsidiary in France or you’re about to. To protect your business in France, some insurance programs remain useful and / or mandatory. You will find below obligations and advice for foreign firms with French subsidiary : property and casualty, liability, vehicles, cybersécurity.
Insurance in France : Property and casualty
There is no obligation to subscribe this type of contract. However, the majority of French insurance companies cover this risk. Whether you take over an existing asset, or build a new plant, insurers will require preventive and protective measures against the main risks (fire, electrical damage, vandalism). We assist our clients in this phase of presentation of the file in order to obtain the best conditions of guarantees.
Industrial Multirisk insurance guarantees your real estate (buildings) and furniture (furniture, equipment) related to your professional activities. This insurance also provides the following points, your:
- Costs and consequential losses (costs of excavation, demolition, expert fees, etc.)
- Related responsibilities (owner’s civil liability property, rental risks, liability against neighbours and third parties
- Financial losses resulting from guaranteed material damage.
The following items, among others, have an impact on the rating:
- Building value
- value of goods
- value of the operating loss
In case of subscription, only two guarantees are legal (Natural disasters and Attacks).
Insurance in France : liability
This coverage is not compulsory in France. However, the coverage rate of French companies is very high. When setting up in France, it is likely that your partners will require you to be covered for your activity.
Some French bonds:
- Coverage for regulated professions (lawyer / accountant / insurance broker)
- Cover the employer’s liability
- Companies participating in the construction of a structure
For companies whose activity has an impact on the environment, it will be useful to cover their environmental liability.
Insurance in France : cover your Véhicle fleet
In France, only the liability guarantee is compulsory for driving a vehicle. This is why Insurers generally offer global coverage including:
- Damage to the vehicle
- damage to drivers (unlimited damage)
- vehicle loan
The COVID-19 crisis has also shown that coverage of CYBER risks is essential. The complaints were indeed very important given the implementation of home office. French contracts cover the costs of consultants who will intervene as well as the costs resulting from the restoration of your computer systems.