Paragraph 1: Involvement of the guarantee fund

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…

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…

The cumulative amount of guarantee fund interventions made pursuant to the provisions of article L. 421-9 from the start of the 2004 financial year may not exceed 700 million euros.