Selection by Rodolphe Bigot, Lecturer, Le Mans University and Amandine Cayol, Lecturer, Caen Normandy University, Cédric Hélaine, Doctor of Laws, Lecturer at the University of Aix-Marseille, and Laurent Dargent, Editor chief
Assurances
Status of distributors marketing borrower insurance contracts linked to consumer loans: reminder from the ACPR
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Following several on-site inspections, the French Prudential Supervisory and Resolution Authority (ACPR) noted shortcomings in the marketing of borrower insurance contracts linked to consumer loans, when this is carried out by partners of banking establishments (or credit distributors), whose main activity consists of the sale of services or goods unrelated to the creditor insurance product marketed (boilers, solar panels, furniture, vehicle, etc.) . The ACPR points out that these partners must be considered as principal and not ancillary insurance intermediaries, in accordance with the provisions of Article L. 511-1 of the Insurance Code. As such, they must imperatively be registered with ORIAS and meet the obligations of professional competence and continuing education defined respectively in Articles R. 512-8 et seq. and Article L. 511-2 II of the Code. insurances. Compliance with these obligations is all the more important since, in general, these distributors are subject to the provisions relating to the obligations of information and advice laid down in Articles L. 521-1 and L. 521-4 of the Code of insurance. In particular, when providing advice, these distributors must take into account the financial situation of customers, check that the proposed contract is indeed consistent with all of their requirements and needs and specify that the subscription to these products insurance is optional, in order to avoid unsuitable sales. (ACPR, press release, March 15, 2023)
Technical methods of termination and denunciation of contracts and regulations by electronic means
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With entry into force on 1is June 2023, the decree of March 16, 2023 specifies the terms of access and use of the functionality for electronic termination and denunciation of contracts and regulations provided for in article 17 of law no. 2022-1158 of August 16 2022 on emergency measures for the protection of purchasing power. The decree provides the insurance subscriber, the subscriber and the participating member with the possibility of notifying the insurer, the mutual insurance company or the provident institution or their unions of the…
