By Charlotte GAUCHON
14 April 2025
Until the 1970s, the legal status of credit insurance in France was uncertain. European law has broken down these artificial boundaries, allowing it to develop as a genuine insurance contract. How did this development come about? What are the implications for businesses? Community competence in the field of credit insurance The Treaty on European Union explicitly assigns specific competence in the field of credit and credit insurance. Articles 112 and 113 on the common commercial policy form the legal basis for this. Article 113 states that «the common commercial policy shall be based on uniform principles, in particular as regards [...] export policy and measures to protect trade«. This legal basis has made it possible to harmonise disparate national provisions. The stages of European harmonisation The directive of 24 July 1973: the first step The EEC directive of 24 July 1973 marked the first decisive step. It authorised insurers to establish themselves in...
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