Tunisia: Finance Ministry explores liberalising auto insurance

Source: Middle East Insurance Review | Jul 2016

The Finance Ministry is looking at the feasibility of liberalising motor insurance, according to Mr Slim Chaker, Finance Minister.

Speaking to the media recently, Mr Chaker said that the enormous losses borne by the auto sector have become intolerable. To remedy this, he said that the Ministry had asked the Tunisian Federation of Insurance Companies (FTUSA) and the General Council of Insurance (CGA) to explore the possibility of liberalising the motor insurance industry.

This study is required to find a compromise between insurers which are demanding higher prices for vehicle insurance and the government which tends to reject insurers’ appeals for tariff increases.

Mr Chaker said that the Ministry is convinced that motor insurance prices cannot be controlled by the government indefinitely as the sector is quite competitive. He added that even if a compromise was found, the liberalisation of motor insurance would only happen gradually.

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