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Corporate governance
Risk management
Information concerning the main
3.5.3.2
Civil liability coverage
insurance programmes
This programme is intended to cover the Group’s activities against the
financial consequences of its civil liability in cases where the Company
The following information is provided for information purposes only in may be held liable for resulting damage and/or body harm caused to
order to illustrate the scope of action in 2015. This information should third parties.
not be regarded as unchanging, since the insurance market is
The limits of its civil liability policy are consistent with those of an
constantly changing. Indeed, the Group’s insurance strategy depends
international retail company. Deductibles vary from country to country.
on and adapts to insurance market conditions.
Exclusions in force for this policy comply with market practices.
Property Damage and Business Interruption
A specific subscription strategy applies to civil liability risk, through the
re-insurance scheme offered by its captive insurer. Anything beyond a
This insurance protects the Group’s assets through an “all risks, with
certain exposure level, the claim are transferred to the traditional
exceptions” policy, on the basis of guarantees and underwriting
insurance market.
capacity available on the insurance market to cover the traditional risks
for this type of coverage, which include fire, lightning, theft, natural
Carrefour group is covered against the risk of harming the environment
disaster and operating loss.
as part of its comprehensive, worldwide civil liability insurance
programme.
The limits of property damage and business interruption are consistent
with those of an international retail company. Deductibles are Such risk requires a specially designed approach because of conditions
established as appropriate for the various store formats.
imposed by re-insurers, which offer more limited coverage for gradual
pollution risk.
Exclusions in force for this policy comply with market practices.
Mandatory Insurance
For subsidiaries in Europe in what is known as ‘free service provision’
zone, this coverage is acquired through the direct captive insurance
company.
The Carrefour group takes out different insurance programmes in
accordance with local law, including:
For subsidiaries located outside the European ‘free service provision’
zone, the Property Damage and Business Interruption programme is
automobile insurance;
●
reinsured through the captive insurance company.
construction insurance (building defects, comprehensive worksite,
●
ten year builder liability, etc.);
A stop-loss provision per claim and per insurance year has been
established in order to protect the captive companies’ interests and
professional liability insurance related to its activities:
●
limit their commitments.
banking,
●
Finally, beyond a certain predefined limit, risk is transferred to the
insurance,
●
insurance market.
travel.
●
Crisis management
3.5.4
To address extraordinary situations that may impact business
concerned and relying on a network of outside experts depending on
continuity and the fulfilment of its objectives, the Group has
the type of crisis.
established a global crisis management organisation.
This organisation specifically includes a backup plan at the level of
At Group level, the Group risks and compliance department
each establishment, an appropriate system for product recall and
coordinates the crisis management system in close cooperation with withdrawal, in accordance with the Group quality department’s
the Group communication department.
recommendations and standards, as well as an alert system to permit
rapid reporting of information from all sites.
Depending on the nature and scope of the event, the crisis may be
handled locally, reporting to a country-level Executive Board, or at
All members of the country Executive Committee and the other
country level in accordance with crisis management principles, as
internal players concerned are trained in crisis management and crisis
defined in the Group's regulatory framework.
communications. Regular organisation of crisis simulations tests the
collective abilities of each Country Executive Committee.
Each Country executive director establishes a formal crisis
management organisation to address the main scenarios likely to The Group has also developed a number of tools at Group level.
impact business continuity, by bringing together all internal functions
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