MICROINSURANCE FOR BUSINESSES

As a logical extension of its business, Meridiam decided to become involved in social action to advance economic innovation in a general interest project.

Consequently, since 2008 Meridiam has supported the action of the Fondation Entrepreneurs de la Cité in its fight against entrepreneurial social exclusion. The foundation protects vulnerable entrepreneurs by providing supportive microinsurance solutions and guiding entrepreneurs in managing their risks and any claims they may make. Since it was set up the foundation has insured over 1200 entrepreneurs and supports over 200 new entrepreneurs every year. 

With its support in 2008 and 2009, Meridiam has helped over 100 new entrepreneurs to take out a microinsurance policy and so protect both their business assets and their business in the event of sickness and has also enabled more than 350 entrepreneurs to benefit from the foundation’s risk management support.

With the sponsorship Meridiam is offering the Fondation Entrepreneurs de la Cité, Meridiam is increasing its public interest action and developing its commitment to social responsibility.

Meridiam and the Fondation Entrepreneurs de la Cité share common values:

- The Fondation Entrepreneurs de la Cité is a public – private partnership: the public – private culture is central to Meridiam’s core business
- Microinsurance guarantees the future of entrepreneurial projects and anchors them in the long term.
- In its action to support entrepreneurs, the Fondation Entrepreneurs de la Cité guides them in assessing and controlling business risks just as the Meridiam teams do day to day.

About the Fondation Entrepreneurs de la Cité:
Every year 30,000 entrepreneurs in difficulty are dealt with by the micro finance networks. Although these entrepreneurs are now recognised by financial institutions, in particular as a result of the development of microcredit, they are still in a very insecure position, particularly because they do not have access to insurance and universal medical insurance cover does not give them and their families sufficient security.

The Fondation Entrepreneurs de la Cité was therefore born out of these two observations: in France, there are unemployed people ready to take risks to create their own business and so their own jobs. However, they do not find partners that can help them identify and cover the business and personal risks related to their activity. The project to set up a foundation in order to develop microinsurance in France for underprivileged people saw the light of day in 2005. The Fondation Entrepreneurs de la Cité, given public interest status in 2008, acts as a bridge between the business creation associations and the insurance companies in designing, developing and managing supportive microinsurance products. The Fondation Entrepreneurs de la Cité was set up by the April Group of insurance companies, CFDP Assurances, CNP, La Banque Postale, Matmut, SGAM AG2R-La Mondiale as well as by the state organisation the “Caisse des Dépôts”.

www.entrepreneursdelacite.org