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Published byOsborne Waters Modified over 9 years ago
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VALIDITY OF THE CREDIT INSURANCE CONTRACT REGARDING THE “FULL DISCLOSURE” OBLIGATION AND THE PAYMENT OF THE PREMIUM Comparison between French and “Common Law” 18 May 2010 HMN & Partners Law firm
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2 TABLE OF CONTENTS I.I. The full disclosure obligation of the elements of risk: –- in French law –- in Common law II.II. Questions related to the payment of the premium
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3 INTRODUCTION
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4 Our presentation as part of the workgroup on credit insurance, is about: Firstly, the full disclosure obligation at the signature of the contract and, - Secondly, the questions about the payment of the premium. -
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5 Full disclosure obligation in French law: -Provisions of Article L.111-1 of the Code des Assurances -Disclosure obligation and hypothesis of avoidance -Relevancy of the writing of contractual documents I. The full disclosure obligation of the elements of risk
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6 Full disclosure obligation in Common Law : -Reinsurance and political risk in English law -Definition in English law of Insurance contract -Requirement of an Utmost Good Faith -Requirement of a Warranty system I. The full disclosure obligation of the elements of risk
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7 In French law: -The framework of the payment of the premium by Insurance law -Conventional provisions in Insurance -Conventional provisions in Credit Insurance II. Questions related to the payment of the premium
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8 In Common Law : -The "Premium Warranty Clause" (PWC) -Application of the PWC before English courts
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9 Conclusion -The analogy between French and English credit insurance law -Dispute resolution before a state judge -The arbitration solution
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