Article L175-26 of the French Insurance Code
November 8, 2023
In the event of a total loss, deemed total loss or negotiated total loss of the aircraft, the insurer has the option of transferring ownership of the aircraft.
In the event of a total loss, deemed total loss or negotiated total loss of the aircraft, the insurer has the option of transferring ownership of the aircraft.
In liability insurance, the insurer is only liable if, following an event provided for in the contract, an out-of-court or legal claim is made against the insured by the injured third party.
The insurer may stipulate that no acknowledgement of liability or settlement made outside the insurer may be set up against it. The admission of the materiality of a fact cannot be equated with an admission of liability.
The insurer who has paid the insurance indemnity acquires, up to the amount of its payment, all the rights of the insured arising from the damage which gave rise to cover.
Insurance contracts to cover civil liability relating to a space operation are governed by the provisions of Articles L. 175-4, L. 175-8, L. 175-11 to L. 175-15, L. 175-18, L. 175-19, L. 175-21, L. 175-22, L. 175-28 and L. 175-29 as well as by the provisions of this chapter.
The conditions of application of the guarantee over time are determined by the insurance contract.
When cumulative insurance policies are taken out without fraud, each of them produces its effects in proportion to and within the limits of the cover provided by the contract.
The insured must pay the premium and costs at the agreed place and time. Failure to pay all or part of the premium by the due date entitles the insurer either to suspend cover or to request cancellation. Suspension or cancellation does not take effect until thirty days after the insured has been served with formal notice to pay by registered letter to his last address known to the insurer….
The insurer shall only be liable if, following an event covered by the contract, a claim is made against the insured by the injured third party or, where applicable, by the State pursuant toarticle 14 of law no. 2008-518 of 3 June 2008 relating to space operations.
1° Where the risk is situated within the meaning of article L. 310-4 in the territory of the French Republic and the policyholder has his principal residence or place of management there, the applicable law is French law, to the exclusion of any other. 2° Where the risk is situated within the meaning of article L. 310-4 in the territory of the French Republic and the policyholder does not have…
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is a Registered Trademark of
PETROFF LAW FIRM (SELARL LEGASTRAT)
182, rue de Rivoli
75001, Paris France
RCS Paris n°814433470
Paris Bar Registration n° (Toque) C2396
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is a Registered Trademark of
PETROFF LAW FIRM (SELARL LEGASTRAT)
182, rue de Rivoli
75001, Paris France
RCS Paris n°814433470
Paris Bar Registration n° (Toque) C2396
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