Riots, looting: who will pay?

2023-07-03 06:15:37

Bruno Le Maire draws the deferrals of charges In order to compensate as quickly as possible and as strongly as possible the traders who suffered damage because of the riots, the Minister of the Economy, Bruno Le Maire, called on insurers to lower the deductibles and to process claims as quickly as possible. “We have asked insurers to be as simple as possible in handling procedures” and to “reduce deductibles as much as possible”. “Compensations must arrive as soon as possible,” he said, adding that he had also asked banks for “the greatest understanding in terms of processing deadlines” from affected traders. As for the gestures offered by the government itself, the social and tax charges of the affected merchants will be postponed. This measure concerns the whole territory and benefits various businesses, tobacco shops, bank agencies, etc., including large retail chains and fast food restaurants. The network of Chambers of Commerce and Industry is also mobilizing, planning to set up crisis cells and visit all the traders affected in order to take stock of the situation as quickly as possible. Riots, damage…: tourism is hit hard Insurance companies will play a crucial role in the coming days. According to the Minister of the Economy, between 90% and 95% of traders are covered by claims and damage insurance. Insurers must therefore be prepared for a bill of at least nine figures. However, the addition is not limited to material damage, there are also operating losses. But there, only one out of two trades is insured against this risk. Hoteliers-restaurateurs, for example, are experiencing a wave of cancellations of reservations in all the territories affected. The episode also weighs heavily on the country’s image: according to Jean-François Rial, head of the Paris Tourist Office, interviewed by Le Figaro, 20% to 25% of foreign tourists have canceled their planned stay in the capital. early July 2023.
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