CAARAMA: Stoppage of travel insurance contracts underwriting

Caarama AssuranceAccording to the Chief Executive Officer of the Algerian insurance company CAARAMA, Ammar Meslouh, the coronavirus pandemic has severely impacted the company's travel insurance class of business. During Q1 2020, this activity recorded a turnover decrease of 40%. After this decline in revenues, the underwriting of this product has been completely stopped since the second quarter.

For the insured stranded abroad, the insurer proposes an extension of the cover. The insured who were unable to travel benefit from the right to postpone the effective date of the travel insurance contract.

Still according to A. Meslouh, the pandemic coverage is not included in the clauses of the current travel insurance contract.

Read also | Algerian insurance market

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