As part of your company’s development, you have recently established a subsidiary in France or you are about to. To protect your business in France, some insurance programs are recommended or mandatory. You will find below some obligations and advice for foreign firms with a French subsidiary : property and casualty, liability, vehicles, cybersecurity.

Insurance in France : Property and casualty 

There is no obligation to take out this type of insurance. 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 in order to obtain the best conditions. 

Industrial Multirisk insurance guarantees your real estate (buildings) and furniture (furniture, equipment) related to your professional activities. This insurance also covers the following :

  • 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 losses

If your company takes out this policy, coverage for “natural disasters” and “attacks” will automatically be included.

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 (lawyers / accountants / insurance brokers) 
  • 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 fleet of vehicules 

In France, only the third-party liability is compulsory for driving a vehicle. However insurers generally offer global coverage including:

  • Damage to the vehicle 
  • Damage to drivers (unlimited damage) 
  • Assistance 
  • Vehicle loan 

Cyber Risks

The COVID-19 crisis has also demonstrated that the coverage of CYBER risks is essential. Claims rose due to the massive implementation of home-working office. French cyber policies cover the cost of consultants who will intervene as well as the costs resulting from the restoration of your computer systems. 

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