The boss of the French insurer stresses that the sector will not be able to cover all the uninsured losses caused by the confinement.
Thomas Buberl, the head of Axa, proposes to create a “pandemic insurance” plan to cope with large-scale crises like that of the Covid-19.
This new mutualized mechanism would be inspired by the one that already exists for natural disasters. “We would collect premiums each year that would be put in reserve. In the event of a crisis, insurers would pay up to two to three times the amount of premiums, with the State taking over beyond“Explained the CEO of Axa in an interview with the Sunday newspaper. This diet “could be 50% owned by the state and 50% by a pool of private insurers“Said Thomas Buberl. The French insurance giant says “ready to take the initiative“To work with”the French state and other European states»To the implementation of this new regime.
“But we will have to go much further in terms of prevention“Said the boss of Axa. “One of the lessons from this pandemic is that the world was not prepared enough and did not coordinate enough“Launched the CEO. However, with global warming, we will have to face “other major deregulations requiring great preparation and coordinated actions at the global level“
Limited support
Currently a business can very well “be insured against the risk of operating loss linked to an epidemic, even if it is quite rare“Also recalled the CEO of Axa. On the other hand, “we cannot cover all uninsured losses caused by containment. The insurance industry would be in danger if it paid a claim for which no one contributedAdded the boss of Axa. On the question of maintaining the dividend, “we will decide before our general meeting, which was postponed to the end of JuneSaid Thomas Buberl.
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