Natural disaster insurance, mandatory but secondary in Algeria

natural disasterIn Algeria, natural disasters insurance has become mandatory since 2003. Despite this compulsory nature and the high risk of earthquake, floods and hail, this cover accounted for only 4.3% of non life insurance turnover in 2018. During the first half of 2019, this figure rose to 5.4%.

Although agriculture is one of the economic sectors that are very sensitive to climatic hazards, its insurance has faced difficulties to develop. In 2018, agricultural insurance reported a decreasing turnover by 5.8% in comparison with 2017.

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