Magazine date:
Jan 2013 Morocco is getting endowed with a compulsory scheme designed to cover risks of natural or man-made catastrophes. Under elaboration since 2002, this project has two components. The first pertains to the creation of a fund supplied by a mandatory extra premium levied annually on all insurance contracts, except those made in life, marine and aviation. The second component is based on an emergency fund fed by the State to compensate the uninsured people. This coverage is poised to yield between 80 and 130 million USD of premiums per year. The adoption of this project is scheduled for the spring of 2013.