Magazine date:
Dec 2017 According to Brahim Djamel Kessali, chairman of insurers and reinsurers union (UAR), the implementation of the average cost recovery program (ARCM) is on track. This initiative will help settle outstanding motor claims, an impediment straining the development of insurance business, according to Mr. Kessali.
The processing of the 2010, 2011 and 2012 files has allowed the settlement of nearly 78 000 cases and the payment of more than three billion Algerian dinars (26.4 million USD).
A second operation is being carried out to settle the outstanding claims of the years 2013, 2014 and 2015. New procedures will now be applied to shorten compensation periods.
More news:
- The insurance industry in Algeria [4]