Title III: Special insurance bodies

In the event of the occurrence of one of the political, catastrophic or transfer risks covered by the policy, the corresponding indemnity shall, insofar as the claim remains outstanding, be paid to the insured six months after receipt by the organisation mentioned in article L. 432-2 of a registered letter or electronic registered letter informing it of the claim. However, in exceptional circumstances, subject to the agreement of the Commission…

The amount of any recovery made after an indemnity has been paid shall, unless a special dispensation is provided for in the policy, be shared between the organisation mentioned in article L. 432-2 and the insured, in proportion to the share of the risk assumed by each of them.

Foreign exchange risk can only be covered if the use of the currency specified in the contract is approved by the Minister for the Economy. Foreign exchange cover is granted on the basis of the exchange rate applicable on the date specified in the policy, in accordance with the provisions of foreign exchange regulations: For the purchase of foreign currency required to pay for imports; Or the sale of foreign…

As regards the guarantee of the exchange rate risk relating to export transactions or to loans or credits granted to finance export transactions or export-related transactions, the loss or profit that may result from a difference between the exchange rate prevailing on the day of collection of a debt and the exchange rate on the basis of which the guarantee was granted shall, up to the percentage of the guarantee,…