Nat Cat insurance is facing difficulties

Natural catastrophes insurance has not been very successful among Algerians. This finding has been established by the Compagnie Centrale de Réassurance, (CCR), exactly nine years following the 2003 Boumerdes earthquake which claimed the lives of 2 300 people and caused damages up to 5 billion USD. Only 4% of households and 8% of electrical and industrial facilities are covered against this kind of event whose underwriting has been made compulsory by the law. The lack of information and insufficient supervisory tools are behind this situation.