A new “cancellation” button should make it easier for consumers to cancel their insurance or mutual insurance contract to choose a more advantageous one. Set up in Germany since July 1, 2022, the system will see the light of day in early June in France.
The “termination” button is now, or almost. A decree published on Friday March 17 in Official newspaper sets the terms of implementation of this project resulting from the purchasing power law of the summer of 2022, and which will see the light of day on June 1st at the latest.
This new measure aims to ensure that any website selling a subscription clearly shows the possibility of terminating it, whether for a subscription to a Netflix-type SVoD service, for a mobile plan or again for an energy contract taken out online.
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According to the government, this provision will have an impact on competition, allowing consumers to easily terminate their contract to choose a more advantageous one.
The text published this Friday specifically concerns damage insurance and personal insurance contracts such as your home or car insurance, mutual insurance contracts or provident contracts.
As of June 1, the insured will be able to cancel their insurance contract online, using a “cancellation button”, whether the contract was initially concluded electronically or not. The only condition is that on the day of termination the insurer offers an online subscription service.
How will this cancel button work?
In concrete terms, this termination button must “be directly and easily accessible” on the contract provider’s site. It must indicate the words “Cancel your contract” or a similar unambiguous formula, displayed in legible characters, specifies the text.
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This feature should also contain a general reminder of the conditions for terminating the contract, including the possible existence of a notice period and the consequences of termination for the insured.
To terminate the contract, this button must have 4 headings which will make it possible to identify the customer by means of his surname and first name, the contract concerned with the risk covered, the reason for termination and “the date of the event giving rise to termination”.
Once these sections have been completed, the customer will access a page which presents a summary of his request for terminationso that it verifies and modifies, if necessary, the information provided.