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Section V: Intervention by the fund in the event of the withdrawal of an insurance undertaking's administrative authorisation

Article R421-50 of the French Insurance Code

When, following the withdrawal of an insurance undertaking’s authorisation, the guarantee fund assumes responsibility for compensation for losses resulting from personal injury and damage to property insured under the insurance cover made compulsory by articles L. 211-1 or L. 242-1, this assumption of responsibility is made under the conditions and within the limits of cover provided by the insurance contracts taken out with this undertaking. Except in the case of…

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Article R421-51 of the French Insurance Code

When all or part of the portfolio of contracts has been the subject of a portfolio transfer pursuant to article L. 421-9-2, the transferee company submits to the guarantee fund a request for payment corresponding to the part of the transferee’s commitments not covered by the assets transferred. The amount of this request is calculated on the basis of the commitments as at the date of publication in the Journal…

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Article R421-53 of the French Insurance Code

The liquidator appointed by the Autorité de contrôle prudentiel et de résolution in application of articles L. 326-1 and L. 326-2, or by the competent authorities of the home state of an insurance undertaking whose registered office is located in the territory of a Member State of the European Union other than France, shall refer to the guarantee fund the claims of policyholders, subscribers or beneficiaries of benefits provided for…

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Article R421-54 of the French Insurance Code

The liquidator referred to in article R. 421-53 shall, with the agreement of the guarantee fund, manage the files relating to compensation for losses covered by insurance, the subscription of which is made compulsory by articles L. 211-1 or L. 242-1, and which are insured with the company in liquidation. It must, at the request of the fund, provide it with any explanations or documents relating to these cases. All…

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Article R421-55 of the French Insurance Code

Insured persons who have taken out, subscribed to or received benefits under insurance contracts taken out with an insurance company whose authorisation has been withdrawn shall be paid within the time limits set out in: 1° Articles L. 211-9 and L. 211-17, where the fund pays compensation for the losses referred to in Article L. 211-1; 2° In article L. 242-1, in the event that the fund assumes responsibility for…

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Article R421-56 of the French Insurance Code

In order to determine the principle or the extent of their right to compensation, injured third parties may not summon the guarantee fund before the courts, in particular to declare a joint judgment. The same applies to policyholders who wish to claim against the guarantee fund when the decision or settlement relates to a contract covered by the fund.

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