Companies tempted to insure themselves

While access to insurance is becoming more difficult for businesses, larger ones prefer to self-insure. Lactalis is the tenth to take the plunge by setting up a captive in December, an internal group reinsurer under French law.

Captives, whose regime has just been relaxed, allow companies to build up provisions to cover part of their risks: the most frequent (small claims) or less well covered by insurance companies. In the event of a cyber attack, a group is thus not necessarily insured for the first million euros of loss. It is the prisoner who covers them. This self-insurance should also help companies get more favorable offers from insurance companies in a tight market with sky-high premiums. An element that more than ever pushes them to look elsewhere.

“Insurance rates have risen sharply, with increases out of step with the actual business risks…