Natural catastrophes insurance is met with indifference

Since the introduction of the compulsory natural catastrophes insurance on September 1, 2004, all statistics have shown the utter failure of this cover among Algerian people. In 2008, a survey found that 10% of the households underwrote this cover. According to Irisco, the company mandated by the Conseil National des Assurances (CNA) to investigate the matter, this cover suffers from the lack of communication and from the insured's mistrust towards the insurers. In 2009, natural catastrophes insurance generated premiums of 1.5 billion DZD (21.2 million USD), which accounts for 1.97% of the current year's turnover.