Coronavirus: French insurers to apply stricter contract renewal conditions

Amid the current health crisis, French insurers are increasing the prices of industrial risks' policies. A reappraisal of the deductibles and sums insured is being considered for all product lines.

According to the Association of Corporate Risk and Insurance Management (Amrae), the price of property and business interruption classes of business will witness a 10% to 30% increase, or even more than 50% for high-risk companies.

The tightening of conditions for the renewal of business risks is the direct consequence of the health crisis which is costing insurers a great deal of money.