End of insurance on credit

The authority of insurance control and social security (ACPS), the Moroccan federation of insurance and reinsurance companies (FMSAR) and the national federation of insurance agents and brokers in Morocco (FNACAM), have recalled that starting from 1 April 2016, taking out an insurance policy requires cash payment.

Intermediaries, agents and brokers are no longer allowed to grant payment facilities to policyholders.
The aim is to reduce the risk of non-coverage in case of claim and put an end the disputes related to non-payment of insurance premiums.