On Saturday, Pit Hentgen, the president of the LaLux insurance company, sat down for an interview with RTL, and elaborated on difference approaches to insurance policies in face of the pandemic.

In France for instance, insurance companies cover "administrative closures", which is not being done in the Grand Duchy. The situation is rendered increasingly difficult by the fact that everyone is hit by the pandemic in some sort of way, and it remains clear that insurance companies will not be able to make up for all the losses.

However, Hentgen emphasised that the insurance industry has been working closely together with the administration to find a feasible solution in case similar circumstances were to occur again in the future.

Still, new initiatives to support the Horesca sector have already been put forward, Hentgen underlined on Saturday afternoon, such as revisions of payment contracts. Furthermore, insurance companies will help finance state loans of about €500 million at a negative interest rate.

According to LaLux president Hentgen, the insurance sector has thus far overcome the pandemic without too many setbacks. Apart from home office, most restrictions have not really influenced the day-to-day operations conducted by the insurance company. Still, they did notice a decline in road accidents, which can be linked to the overall decrease of movements across the country.

Hentgen also talked about the potential problems caused in the future by self-driving cars, an area where insurance companies still need to determine on how to approach accidents and responsibility for them.

Lastly, the issue of life insurances was discussed, where president Hentgen underlined that only residents could benefit from the tax advantages offered through the policy.