On December 7, a new ordinance (No. 2023-1138 of December 2023) was published by the French Ministry of Economy, Finance and Industrial and Digital Sovereignty. This ordinance is transposing the rules of Directive No. 2021/2118 of November 24 (the Directive), which is the amendment of the Sixth Directive on Motor Insurance (Directive 2009/103/EC ), into French law.
According to the new ordinance, contributions to the Guarantee Fund will only be payable by insurance companies that have been authorized by ACPR – Autorité de Contrôle Prudentiel et de Résolution, the French Supervisory Authority.
The new rules are applicable in line with the Directive, that is from December 23, 2023.
As outlined in previous updates, certain member states have already taken actions to exclude foreign insurance companies from the payment of the contribution to the national guarantee funds in accordance with Directive 2021/2118/EC of the European Parliament and of the Council of November 24, 2021.
Updates:
Denmark: Fixed rates to Guarantee Fund remained unaltered for 2024
Ireland: Motor Insurers’ Bureau of Ireland changes the rules regarding its contributions
