Amidst the current health crisis, CNP Assurances has decided to reinforce its support of its collective personal risk, insurance and reinsurance clients - both companies and associations - by releasing a funding envelope of €50 million to expand its coverage beyond contractual obligations.
CNP Assurances will in particular contribute to the coverage of per diem payments related to work stoppage to take care of children or vulnerable persons, beyond the contractual deductible period applicable in the case of sick leave. This gesture of solidarity will apply from the day when schools closed countrywide until 30 April 2020, which is the date on which employees will receive payment in terms of partial-unemployment measures.
Companies and associations targeted by this measure employ nearly 2 million workers
In accordance with recommendations from the Government and FFA(1), CNP Assurances has already since the start of the epidemic been covering per diem payments for employees and self-employed workers on long-term sick leave for illnesses listed by the French Public Health Council and pregnant women in the 3rd trimester of pregnancy.
The measures taken by CNP Assurances will therefore extend the coverage of work-stoppages due to illness.
Committed to support the most vulnerable through actions of solidarity throughout the COVID-19 epidemic, CNP Assurances thereby reinforces its non-contractual commercial arrangements in support of micro-, small and medium-sized companies, which represents the majority of its portfolio.
“Even though our personal-risk contracts do not cover this type of work stoppage, we have decided to make the effort to support companies by contributing to per diem payments for their employees who have to stay home to take care of their children. As a responsible insurer with the mission to offer long-term protection for everyone, we believe that we must support companies and their employees throughout this epidemic to help them overcome the crisis and facilitate their return to work,” says Antoine Lissowski, Chief Executive Officer of CNP Assurances.
(1) Fédération française de l’assurance (French Insurance Federation)