In 2023, more insurance contracts will be tough all year round after a detention. And the deadline for waiving affinity insurance, in particular for mobile phones, will be extended from 14 to 30 days, in accordance with the agreement approved by the CCSF in its opinion of April 29.
Between November 2021 and April 2022, the Financial Sector Advisory Committee (CCSF) set up a working group to consider harmonizing the time limits for terminating insurance contracts at the initiative of the insured. Several measures are the subject of an agreement that will have to be implemented by insurers on July 1, 2023.
The role of CCSF
The Financial Sector Advisory Committee (CCSF) brings together financial sector actors: financial institutions, consumer associations, trade unions and employers’ organizations, parliamentarians and academics. It is a consultative body, created by law, and responsible for formulating recommendations and measures to improve the relationship between finance professionals and their clients.
Insurance contracts can be terminated at any time of the year
As of July 1, 2023, all individual (or group membership) insurance policies covering insured individuals outside of their professional activities may be terminated at any time, after the first year of underwriting. Harmonization of resilience conditions is being sought with a view to simplification for consumers. Multi-risk home, car, supplementary health insurance and so-called affinity insurance (such as mobile phone insurance) are already available at all times.).
The homeowner’s loan insurance will also be terminable at any time, without participating in the anniversary date, for the new real estate loans taken out from June 1, 2022and from the September 1, 2022 for all borrowers who have an outstanding loan refund.
In July 2023life accident insurance contracts may also be terminated at any time, legal protection contractsin particular.
Certain insurance contracts remain terminable only on the maturity date of the contract (or in the event of an event affecting the insured risk):
- pension insurance (disability / incapacity / death);
- addiction insurance;
- seasonal contracts (school insurance, hunting insurance);
- boat insurance;
- motorized and non-motorized personal travel insurance.
30 days to give up cell phone insurance or other affinity insurance
Affinity insurance is a supplement to the good or service covered by the guarantees offered. The consumer currently has 14 days from the subscription to unsubscribe. Professionals often offer a free or reporting period of the first premium for 14 days, the consumer finds himself permanently employed on his own.
In July 2023the insured will have one within 30 days to give up their contract. And in case of a free period, the 30-day period will be counted from the date of payment of all or part of the first premium.
And it will no longer be necessary to justify having already taken out insurance covering the same risk in order to benefit from the right of withdrawal.