Friday, July 31, 2009


My post on insurance has been getting some reactions… :
“insurer who listens despite the crisis do exist ?” Writes Pferrand (what a tease )

Concerning “normal” insurance policies such as fire, liability, theft, etc… I believe that insurers don’t change their behavior.
I must say that banks seemed to listen better and ready to help a company, at least like mine.

It is a very different story when dealing with companies who handle export credit guaranties (those who insure us against risk for unpaid invoices). For instance, ours doesn’t insure South Korean clients anymore, even if they have good balance sheets. Their reason being the political tension between North and South Korea, as it was a new issue.
Credit-Insurance companies are being closely watched by the French government who is keenly aware of the importance of these insurance for our export activities – which represents more than 80% of my activity.

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