Morocco: Regulator issues info guide on catastrophic event insurance

Source: Middle East Insurance Review | Feb 2021

The Supervisory Authority of Insurance and Social Welfare (ACAPS) has published an information guide on its catastrophic events (EV CAT) insurance scheme which entered into force on 1 January 2020.

This publication is part of the efforts made by ACAPS to raise awareness and provide information to the general public concerning the sectors subject to its supervision.

Published in Arabic and French, the guide presents the specificities of the EV CAT scheme and is intended for policyholders. The coverage against the consequences of catastrophic events is intended to compensate victims for bodily injury and/or material damage which is the consequence of natural disasters or damage caused by violent human action.

This coverage was introduced by the country’s disaster risk insurance law (Law 110-14 dated 25 August 2016), which was adopted by the Moroccan government in March 2019. The law provides for a mixed compensation scheme for victims of catastrophic events, combining both an insurance system and a benefits system. M

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