Extra premium mandatory on all non life insurance contracts

All property damage (fire, homeowner's ...), motor third party liability and third party liability policies which cover bodily injury caused to third parties will be, henceforth, accompanied by a cover against catastrophic risks.

The text has been published in the Official Bulletin of the Kingdom of Morocco, but its entry into force is pending the implementing provisions.

The new legislation will result in an additional premium on all insurance contracts, mainly those underwritten or renewed after the implementation of the law.

Read also:

• Contractor’s all risks and decennial TPL will be mandatory starting from 2017
• Casablanca Finance City, second financial hub in the MENA region