The insurance policy’s purpose, centrally managed within the Insurance Department, is to provide the best cover for our employees and assets, by achieving a right balance between local and corporate insurance cover.
By implementing a two-level insurance cover (local and centralized), the Groupe strives to ensure complementarity of guarantees and thus a better risk management accross all the countries in which Publicis is present.
On a local level, mainly through the Re:Sources shared service centers, entities must purchase general liability, property damage and business interruption, automobile and employer’s liability insurance policies, as well as health and life insurance cover for local employees. These insurances are taken out in compliance with the local regulations.
The only exception is the European zone: using the free provision of services framework in Europe, the Groupe has taken out a Property damage and Business interruption insurance policy and a General liability insurance policy, which could apply to all European subsidiaries.
At Groupe level, insurance programs have been implemented with leading insurance companies with the aim of automatically covering all subsidiaries against the financial consequences of risks such as, but not limited to:
In addition, the Groupe negotiates and sets up specific covers that subsidiaries may subscribe depending on their business needs, such as credit insurance, health and life insurance for expatriates and specific insurances for film and TV shoots.
The insurance policies are regularly reviewed to customize the cover to any changes in our activity and in particular new digital services: the Groupe focuses particularly on this risk and its cyber-risk insurance cover.
The amount of cover is considered to be consistent with the risk assessment and with the market practices.
In light of the Groupe’s significant Mergers and Acquisitions activity, the Insurance Department also oversees the integration of acquired entities within the Groupe’s program.
In June 2022, the Groupe sets up Publicis Ré SA, a captive reinsurance Company within the meaning of article L.310-1-1 of the French Insurance Code. Publicis Ré is a wholly-owned French subsidiary dedicated to the reinsurance of the Groupe’s risks. It was approved on October 10, 2022 by the French Prudential Supervision and Resolution Authority (ACPR), to operate as a non-life reinsurer.
This reinsurance captive was created to facilitate the coverage of cybersecurity risks and professional liability in an increasingly tight insurance market context.
