French Insurance Code

If the sum insured is less than the actual value of the insured items, except in the case of the agreed value, the insured remains his own insurer for the difference.

Where the insured value of the aircraft is an agreed value, the parties mutually forbid each other any other estimate, unless the insurer establishes that there has been fraud on the part of the insured or his agent. In this case, the insurance of the insured object is null and void, and the premium remains the property of the insurer.

When several insurance policies against the same risk are taken out fraudulently, these policies are void.

In property insurance, cumulative insurances taken out without fraud for a total sum exceeding the value of the insured item are valid only if the insured brings them to the attention of the insurer from whom he requests settlement. Each of them produces its effects within the limits of the guarantees of the contract and up to the full value of the insured item. In liability insurance, when the cumulative…

In liability insurance, the conditions of application of the guarantee over time are determined by the insurance contract.

The injured third party has a direct right of action against the insurer covering the civil liability of the person liable. The insurer may not pay to a party other than the injured party all or part of the sum owed by the latter, until the latter has been reimbursed, up to the amount of the said sum, for the pecuniary consequences of the event which gave rise to the…

The insurer who takes over the management of a lawsuit brought against the insured is also deemed to waive all defences of which it was aware when it took over the management of the lawsuit. The insured shall not be subject to any forfeiture or other sanction as a result of his interference in the management of the lawsuit if it was in his interest to do so.

Actions arising from the insurance contract are time-barred after two years.