ASSURANCE-PRET ET INFORMATION DES EMPRUNTEURS: REFLEXIONS SUR LA RESPONSABILITE DE L'INSTITUTION FINANCIERE

Authors

  • NATHALIE VEZINA

Abstract

Group life and health insurance of debtors presents particular difficulties when compared with insurance of individuals. On the one hand, the contract is entered into between the insurer and a financial institution, the borrowers playing simply the role of insureds. On the other hand the insurability of the borrowers is generally evaluated by the insurer when the risk materializes and not at the moment of entering into the contract. These two factors combine to place many borrowers in a precarious situation because they enter into a transaction under the impression that they will be afforded a protection to which in reality they have no right. One possible solution to this problem is to provide better information to borrowers on the conditions of insurability at the moment the contract is entered into. The author considers the responsibility of financial institutions in that regard. An analysis of the contractual and delictual rules leads to the conclusion that there is no obligation imposed on financial institutions under general principles of insurance law. The author contends that in the absence of specific rules ensuring the protection of borrowers one must have recourse to the general principles of delictual responsibility.

Keywords:

Contract Law

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Published

1992-06-01

Issue

Section

Legal Commentary