CCR plays a major role as regards the compensation scheme for natural disasters arising in France. It combines public-sector reinsurance and expertise to contribute to effective risk knowledge management and prevention.
France is one of the very few countries with a system that guarantees all its citizens, its businesses and its territorial municipalities adequate compensation, at affordable rates, in the event of material damage caused by a natural phenomenon.
By way of the law of July 13, 1982, France established a specific compensation scheme in the form of a public-private partnership, to make up for the inadequate cover of natural disasters, for which, until then, only very low levels of insurance were provided.
In the framework of this statutory scheme, CCR is accredited to provide, upon the request of the insurer, State-guaranteed unlimited reinsurance coverage against natural disasters arising in France.
The scope of CCR's activities goes well beyond this reinsurance coverage. Accordingly, CCR's objectives include:
- Maintaining the financial balance of the natural disasters compensation scheme to the benefit of the general public.
- Contributing to the assessment of the financial consequences of natural disasters by collecting insurance-related data and by developing its own modeling applications.
- Making full use of these applications to measure the level of exposure of French territories susceptible to adverse events.
- Disseminating certain results of its efforts by means of its online service dedicated to natural disasters exposure and loss experience.
- Contributing to the prevention of natural disaster risks by participating, via its working partnerships, in efforts to exploit existing knowledge and by providing the stakeholders' key indicators.
- Providing services to its clients, such as enabling the online entry of data for reinsurance accounts.