Coverage of natural catastrophes risks

Progress of the work at the National Council of Insurance (CNA): the Algerian national news agency ” reports that the Algerian insurance coverage scheme against the risks of natural disasters, Cat-Nat, will follow the French model. Insurance companies are considering the project of the new Cat-Nat scheme elaborated by the ministry for Finances. The scheme includes:

• Mandatory Cat-Nat guarantee for goods, buildings and furnishings (including land vehicles)
• Cat-Nat coverage with additional premium, mentioned in the contract and defined by ministerial decree.

The Cat-Nat reinsurance coverage will be entrusted to the Compagnie Centrale de Reassurance under the control of the state.