Title II: Guarantee funds

The policyholders’ guarantee fund instituted by article L. 423-1 may not refuse membership to an insurance undertaking referred to in the same article, authorised under the conditions provided for in articles L. 321-1, L. 321-7 or L. 329-1, or to a supplementary occupational pension fund authorised under the conditions provided for in article L. 382-1. Membership of the fund is terminated only in the event of the withdrawal, cessation or…

Insured persons, subscribers to contracts, members and beneficiaries of benefits relating to insurance classes 1, 2, 20 to 26 defined in Article R. 321-1 subscribed with companies that are members of the policyholders’ guarantee fund benefit from this fund. Policyholders, contract subscribers, members and beneficiaries of benefits relating to supplementary professional retirement activities subscribed with supplementary professional retirement funds which are members of the policyholders’ guarantee fund benefit from this…

The college set up under article L. 423-2 is made up of the Director General of the Treasury or his representative, the Chairman of the Autorité de contrôle prudentiel et de résolution and the Chairman of the Supervisory Board of the policyholders’ guarantee fund, or their representatives.

The Autorité de contrôle prudentiel et de résolution may set a different reduction rate for each set of contracts with the same characteristics. All contracts in the same group have the same reduction rate. If the Autorité de contrôle prudentiel et de résolution decides to transfer all or part of the contracts to one or more undertakings, it shall arrange, at the expense of the defaulting undertaking, for the assets…

The transferee company submits to the policyholders’ guarantee fund the request for payment provided for in the first paragraph of article L. 423-3, the amount of which it calculates on the basis of the commitments as at the date of publication in the Journal officiel of the portfolio transfer and the assets accompanying this transfer. Within two months of the date of receipt of this request, the fund, after verifying…