Insurance fraud rising in Morocco

In 2016, Moroccan insurers disbursed 5 billion MAD (496.6 million USD) in motor compensations, up by 14% in comparison with 2015. This ever-rising amount accounts for 47% of the entire compensations paid, including all classes of business. This rate was limited to 30% a few years ago.

The business professionals explain the rising trend of compensations by the upsurge in fraud, a phenomenon that affects the motor insurance in particular.

In an effort to counter this scourge, Moroccan insurance companies are currently working on the establishment of an information exchange and control system.

More news:

• The insurance industry in Morocco