Morocco: Insurance brokers want revamped commission scheme
Source: Middle East Insurance Review | Jul 2017
Insurance agents and brokers in Morocco have demanded that their decades-old remuneration system, mainly related to motor business, be updated.
In a statement issued in conjunction with its annual general meeting held in May, the National Federation of Insurance Agents and Brokers in Morocco (FNACAM) said that the commission system for auto business had been unchanged since 1989, reported Morocco Infomediary.
The trade body wants intermediaries to be provided with realistic and decent commissions correlated with the work they do.
A source said that the profits made by insurers were generated from the MAD26 billion (US$2.7 billion) of premiums produced by intermediaries. M
MAD1 = US$0.10