Contractor’s all risks and decennial TPL will be mandatory starting from 2017

The bill to mandate contractor’s all risks and 10-year structural warranty has been adopted by the Moroccan parliament. The new law will be effective starting from 1 January, 2017.

These insurance requirements apply to buildings with a covered area of less than 800 m² as well as commercial premises under 400 m².

The Moroccan federation of insurance and reinsurance companies (FMSAR) has specified that the premiums collected for these two classes of insurance did not exceed 100 million MAD (10.2 million USD) in 2015.

FMSAR believes that, two years after its entry into force, the new law will increase this figure to 1 billion MAD (101.7 million USD).

Read also: Introduction of two insurance obligations in Morocco