Insurance: it will soon be possible to terminate any contract

Insurance contracts can all be terminated at any time, by 2023. (Pixabay / rawpixel)

In its latest opinion made public on Thursday May 5, 2022, the CCSF (Consultative Committee for the Financial Sector) recommended that all insurance contracts can be canceled at any time after one year of subscription. Insurers should respect this decision, thus extending the guarantees of the Hamon law of 2014 to all types of contracts by 2023.

All insurance contracts could, by 2023, be cancellable at any time after one year of subscription, reports

The Parisian

. The CCSF (Financial Sector Advisory Committee) has indeed recommended the implementation of this practice in its last opinion made public on Thursday, May 5, 2022. And for Corinne Drome, the president of the CCSF,

“there is no doubt”

that insurers will voluntarily adopt this recommendation.

Harmonization of the Hamon law

Compliance with this new requirement by insurers would extend the guarantees of the Hamon law of 2014, which already allows the termination at any time of auto, home and health insurance contracts. To these would therefore be added “legal protection” contracts and “individual accident guarantees”.

The possibility of terminating borrower insurance will be ensured by a reform which will come into force on 1


next June. A last type of insurance will however remain outside these new requirements: provident insurance contracts. An exception that consumer associations have regretted.

Recommendations on warranty extension contracts

In its opinion, the CCSF also looked at the conditions for terminating warranty extension contracts offered to consumers. The committee was thus able to notice that some of these contracts included a first month free, which may have hindered the 14-day right of withdrawal for customers.

The CCSF has therefore recommended that the withdrawal period be increased to 30 days and that it only begins from the first payment. The conditions for signing these contracts will be examined in the fall of 2022.


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