“Rigorous, the State is no longer able to protect the French from multiple crises”

The fires that are devastating Los Angeles and ravaging tens of thousands of homes, just a stone’s throw from Hollywood studios, are putting American insurance companies to the test. They are certainly used to it with the increase in forest fires in California which left 105 dead in 2018. Since then, insurers have increased the prices of their policies, going so far as to terminate the contracts of some 100,000 Californian owners, according to a countdown of New York Times .

It may come as a shock that an insurer withdraws its guarantees in response to disasters. In a completely different register, it is also the situation of the French with regard to their welfare state which is no longer able to provide them with the promised protections. As a former insurance professional – he headed BNP Assurance Cardif and Generali France – Éric Lombard, the Minister of Economy and Finance, is well equipped to…