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Loi Lemoine : major developments in borrower's insurance

It's done, since 28 February, the law reforming loan insurance has officially entered into French law.

After many twists and turns, this law n°2022-270 "for a fairer, simpler and more transparent access", includes major changes. To understand these changes, let's quickly recall the current situation, pre-Lemoine Law.

Before the Loi Lemoine, until 1 June 2022

  • The Lagarde law allows the borrower to choose his insurance before signing the loan offer

  • The Hamon law allows the borrower to change insurance before one year of the loan

  • The Bourquin amendment allows the borrower to change insurance after 1 year of borrowing, at each maturity date of the contract

«For fairer, simpler and more transparent access to the loan insurance market.»

A new law: the 3 major changes from 1 June 2022*.

  1. Cancellation Infra Annually: the possibility to cancel one's loan insurance contract at any time and free of charge. Insurers will have to inform their policyholders each year of this right of cancellation. They will also have to display the cost of the loan insurance for eight years.

  2. Abolition of the Health Questionnaire: for loans of less than €200,000 per insured person, and for loans ending before the insured person's 60th birthday.

  3. Reduction of the legal deadline for benefiting from the right to forget: no declaration of certain serious pathologies if the therapeutic protocol has been completed for more than 5 years, and with no relapse noted.

Faced with these new challenges, Minalea offers digital and innovative solutions to support Loan Insurance professionals. Today, with AirPitch, we have studied 930 contracts, 4,825 formulas and 7052 options. For each ADE (Assurance Des Emprunteurs) contract, we have listed 186 analysis criteria. You have all the cards in your hand to help your clients in this new borrower landscape.

* 1 June 2022 for new loan offers, from 1 September 2022 for existing insurance contracts


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