The French Competition Authority issues an opinion on the sector of borrower’s insurance for housing loan

Press Release published on the official website of the French Competition Authority.

The Autorité de la concurrence is in favour of the separation of the housing loan offer and the insurance offer. It considers that it is necessary to guarantee the information provided to consumers and to control the refusal conditions of alternative insurance contracts by credit institutions.* After a referral by the UFC-Que choisir on the competitive functioning of the market for borrower's insurance, the Autorité de la concurrence has issued an opinion in favour of discontinuing the possibility for banks to impose their group insurance contracts when a housing loan is granted. This reform will serve to provide borrowers with greater freedom in choosing amongst the proposed contracts. The Autorité

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French Competition Authority, The French Competition Authority issues an opinion on the sector of borrower’s insurance for housing loan, 7 octobre 2009, e-Competitions October 2009, Art. N° 59337

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