The broker Magnolia ready for the entry into force of the Lemoine law

Magnolia rushes into the reform of borrower insurance. The loan insurance broker will launch SpeedOne, an entirely online subscription contract whose subscription is intended to be simplified as much as possible.

In accordance with the requirements of the Lemoine law, the contract will be accessible without going through the health questionnaire box for all covered loans for an amount of less than 200,000 euros. The offer will be accessible from June 1, the date on which this obligation will come into force, as well as the infra-annual termination (i.e. termination at any time) of the borrower insurance for all new contracts. For contracts already taken out, borrowers will have to wait until September 1.

The offer will be available in BtoC via the broker’s site but also distributed via its tool developed as a white label Simulassur, used in particular by Cafpi.

More complex risk pricing

Like many alternative insurers, Magnolia was at the time of the vote of the Lemoine law in favor of the infra-annual termination but mixed with regard to the elimination of the health questionnaire. They were indeed much to fear that the benefit of the liberalization of a market mainly held by bank-insurers with termination at any time would be erased by a generalized increase in tariffs.

“As soon as it is not possible to assess the risk before granting guarantees, which is in sharp contrast with one of the foundations of insurance, the insurer will have to adopt a more cautious approach. , declared Franck Le Vallois, managing director of France Assureurs, in our columns. This could result in a significant increase in the cost of borrower insurance. »

If for the moment, insurers are looking for a way to continue to price as closely as possible to the risk, the near future could well prove them right.

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