Magnolia broker ready for Lemoine law to come into force

Magnolia is immersed in borrower insurance reform. The loan insurance broker will launch SpeedOne, a complete online underwriting agreement that aims to make the underwriting as simple as possible.

In accordance with the requirements of the Lemoine law, the contract will be accessible without trecător prin the health questionnaire box for all loans covered in an amount of less than 200,000 euros. The offer will be available from June 1, the date this obligation will take effect, as well as the infra-annual termination (ie termination at any time) of the borrower’s insurance for all new contracts. For contracts already entered into, borrowers will have to wait until September 1st.

The offer will be available in BtoC through the yard site, but also distributed through the tool developed in the brand blanche Simulare, used mainly by Cafpi.

A more complex risk pricing

Like many alternative insurers, Magnolia was at the time of the Lemoine vote in favor of infra-annual termination but mixed with the removal of the health questionnaire. They were very concerned that the benefit of the liberalization of a market held mainly by bancassurers with the termination at any time would not be erased by a general increase in rates.

“From the moment it is not possible to assess the risk before granting guarantees, which is far out of step with one of the foundations of insurance, the insurer will have to take a more cautious approach. , said Franck Le Vallois, CEO of France Assureurs, in columns. This could result in a significant increase in the cost of borrower insurance. »

If insurers are currently looking for ways to keep pricing as close to risk as possible, they may be right in the near future.

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