FMSAR and FNACAM to support insurance intermediaries

In collaboration with the Supervisory Authority of Insurance and Social Welfare (ACAPS), the Moroccan Federation of Insurance and Reinsurance companies (FMSAR) and the National Federation of Insurance Agents and Brokers of Morocco (FNACAM) have decided to provide financial support to general agents and brokers most affected by the pandemic.

Within this framework, a lump sum of 12 000 MAD (1 245.36 USD) shall be granted to any agent or broker included in the list of the 700 smallest intermediaries in terms of turnover. The aforementioned list does not include the brokers and agents in business for more than ten years nor those in dispute with partner insurance companies.

The allowance is to be directly granted by the insurers to their general agents and by the FMSAR and FNACAM to insurance brokers.