3.8 Article 14(3) of CCD2

Article 14(3) provides for a derogation from the general prohibition on tying practices to permit Member States to allow creditors to require the consumer to have a relevant insurance policy in order to guarantee repayment of the credit or to insure the value of the security. This is without prejudice to the right of the consumer to choose his or her own insurance provider offering an equivalent level of guarantee as the insurance policy proposed or offered by the creditor.

Question 8 - Should creditors be allowed to require borrowers to have an appropriate insurance policy as part of the credit agreement for the above purposes?