Algeria: Auto compensation rose 10% in 2015 to US$505.5 mln
Source: Middle East Insurance Review | Apr 2016
Insurers in Algeria paid motor compensation totalling DZD55 billion (US$505.5 million) last year, 10% higher than in 2014, said Mr Hassan Khelifati, Vice President of the National Council for Insurance Companies.
Mr Hassan, who is also CEO of Alliance Assurances, said in a statement that traffic accidents last year caused 4,500 fatalities. He said that the Council could carry out a project this year to study the type of motor vehicles most often involved in traffic accidents.
The Minister of Transport, Mr Boudjema Talai, recently pointed out that the human element accounted for 85-90% of motor accidents in the country. Other causes of road accidents include pedestrians, the quality and condition of the vehicles (6%) and road conditions. Road accidents are estimated to cause the economy up to DZD100 billion annually.
Separately, Mr Nacer Sais, CEO of SAA (Société Algérienne d'Assurances or National Insurance Company), said most insurance claims, largely related to traffic accidents, are settled amicably between insurers and policyholders, but nearly 20% of claims cases are contested in court.
In such cases, most compensation awards exceed the insured amount, said Mr Sais on the sidelines of a workshop on litigation in the insurance sector, reported the Algeria Press Service.
DZD10 = US$0.09