SFAM’s authorization to sell insurance products has been temporarily suspended by the sector policeman. A welcome decision, but one that comes late.
Since April 25, the SFAM can no longer officially have customers sign insurance contracts. In a press release made public, the Prudential Control and Resolution Authority (ACPR) explained that it had prohibited SFAM from exercising “the activity of distributing insurance contracts”. The sector policeman indicated that he was taking this exceptional measure to “protect the interests of customers”, after noting that “the practices relating to the marketing process put in place by the SFAM” were “likely to compromise the interests of customers” and had “given rise to a significant number of complaints”.
By acting in this way, the ACPR is fulfilling its role. One of its missions is to protect customers against the harmful actions of certain bankers and insurers. However, this measure should not radically change the situation, Indexia, the former SFAM, having already announced that it has put an end to its multimedia insurance activities after being let go by its partner insurers.
This decision by the ACPR comes very late. The first disputes related to SFAM date back to 2017 and since then their number has continued to increase, as have the amounts involved. Fraud Control has also never hidden the fact that it was investigating this company . As for What to choose, we have constantly denounced his methods. The ACPR had therefore necessarily been aware of his actions for a long time, but let it happen.
SFAM persists against all odds
However, the SFAM problem is not solved. On the one hand because the current insurance contracts continue. However, every day, victims discover by consulting their bank statements that they are subject to direct debits from the SFAM. Then because the company continues, through its Hubside Store stores, to have contracts signed for its other services, which are Foriou, Cyrana, Serena and Hubside, without necessarily explaining to customers what they are committing to. The fact remains that this ban on the sale of insurance products is yet another hard blow for SFAM, which for some time has had to deal with the departure of many employees, social movements and demonstrations of dissatisfied customers in front of its head office or in its shops. Not to mention the fact that more and more aggrieved customers are claiming refunds and that several legal actions are in progress, including that related to the complaint of UFC-Que Choisir, whose trial should be held next fall. The problems begin to accumulate dangerously for the SFAM!
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2023-05-28 11:12:55
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