Moroccan Traffic Accidents Guarantee Fund: Increase in resources in 2019

ACAPSThe Supervisory Authority of Insurance and Social Welfare (ACAPS) says the resources of the Moroccan Traffic Accidents Guarantee Fund (FGAC) are to increase by 5.6% in 2019 to reach 216.4 million MAD (22.3 million USD).

Total compensation paid to victims in 2019 amounted to 90.6 million MAD (9.33 million USD), down 10.1% from 100.8 million MAD (10.5 million USD) paid one year earlier.

Meanwhile, the claim reserves, show an increase of 10.5% set at 1.4 billion MAD (144.28 million USD).

In 2019, the FGAC managed 3 323 claims compared to 3 930 in 2018, a decrease of 15.4%. Claims reported for unknown perpetrator and lack of insurance decreased by 4.8% and 16.6% respectively compared to 2018.

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