Natural catastrophes cover: Adoption of the draft decree

The draft decree on the enforcement of the law n° 110-14 of August 25th, 2016 on the establishment of an insurance coverage for natural disasters, was adopted by the Moroccan government on the 21st of March 2019.

This draft sets up a dual indemnification system:

• An indemnification system for the victims as policyholders
• An allowance system for the other uninsured victims

The decree notably defines the list of the natural catastrophes covered by the new system, the conditions of declaration of the state of the natural disaster, the administrative representatives in the follow-up commission in the solidarity fund against catastrophic events (FSEC) and in the claims settlement commission. The decree also determines the modalities for granting the allowances and their ceiling.

In addition to this, it suggests the fixation of a scale for the expert appraisal fees applicable to insurance and reinsurance companies in the event of a natural disaster claim.

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