Regulatory part

Subject to the rules set out in the following paragraph, public accountants, who are the consignees of extracts of judgments and rulings, shall collect, under the same conditions as fines, the 50% surcharge instituted for the benefit of the guarantee fund by the first paragraph of article L. 211-27 and the sums owed by the insurer in the event of a manifestly insufficient offer established by the judge pursuant to…

For the application of the provisions of article L. 421-8 of the Insurance Code, the contributions to the guarantee fund are based on the following conditions: 1° The contribution from insurance companies is proportional to the sums recovered by them in respect of the contribution from policyholders referred to in 3° below. 2° The contribution of those responsible for accidents which give rise to personal injury, but who are not…

The rates and proportions of the contributions referred to in article R. 421-38 are set by order of the Minister responsible for insurance, subject to the following maximum amounts: Contribution from insurance companies: 12% of the total cost of guarantee fund operations relating to hunting and the destruction of vermin; Contribution from uninsured persons responsible for accidents resulting in personal injury: 10% of the compensation payable by them. However, this…

The public accountants who record extracts of judgements and settlements in accordance with the provisions of decree no. 66-136 of 4 March 1966 recover, under the same conditions as fines, the surcharge of 50% introduced for the benefit of the guarantee fund by the second paragraph of article L. 421-8 of the Insurance Code. Receipts from this surcharge are paid quarterly to the guarantee fund.

The Guarantee Fund’s accounts must show all income and expenses relating to the operations carried out in application of article L. 421-8 of the Insurance Code for each financial year, so that the actual result of these operations can be identified and their equilibrium ensured.

Transactions carried out by the guarantee fund comprise : Revenue : a) Proceeds from the contributions provided for in articles L. 421-4-1, L. 421-6-1, L. 421-8, L. 421-10 and L. 421-10-1 ; b) Recoveries from compensation debtors; c) Income from investments and interest paid on current account funds; d) Repayments and realisations of securities and real estate; e) Any other resources that may be allocated to the guarantee fund. Expenditure…

The guarantee fund may use the excess of its resources over its current expenditure to acquire the financial instruments referred to in article L. 211-1 of the Monetary and Financial Code and real estate assets. It invests all of its assets in accordance with the “prudent person” principle referred to in article L. 353-1 of this code. In this respect, the guarantee fund is subject to the obligations imposed on…