French Insurance Code
In forceNotwithstanding article L. 113-12, where the purpose of the insurance contract is to guarantee, in the event of the occurrence of one of the risks defined in the contract, either the total or partial repayment of the amount outstanding under a credit agreement referred to in 1° of article L. 313-1 of the Consumer Code, or the payment of all or part of the instalments on the said loan, the insured party may cancel the contract at any time from the date of signature of the loan offer defined in article L. 313-24 of the Consumer Code. The policyholder shall notify the insurer or its representative of his request for cancellation in accordance with the conditions set out in article L. 113-14 of this code. If the insured party makes use of the right of cancellation referred to in this paragraph, he/she shall notify the insurer by registered letter or electronic registered mail of the lender's decision as provided for in the second paragraph of article L. 313-31 of the Consumer Code, as well as the effective date of the insurance contract accepted in substitution by the lender. In the event of acceptance by the lender, cancellation of the insurance contract takes effect ten days after receipt by the insurer of the lender's decision or on the effective date of the contract accepted in substitution by the lender, whichever is later. If the lender refuses, the insurance contract is not cancelled.
This right of cancellation belongs exclusively to the insured.
Throughout the term of the insurance contract, and notwithstanding article L. 113-4, the insurer may not cancel the insurance contract on the grounds of an increase in risk, except under certain conditions defined by decree by the Conseil d'Etat, resulting from a change in the insured's voluntary behaviour.
