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Jun 2024

Morocco's parametric insurance payout sets stage for flood protection expansion

Source: Middle East Insurance Review | May 2024

Morocco was rattled by a 7-magnitude earthquake in September 2023, leading to the formation of a parametric insurance pool facilitated by Gallagher Re MENA. Although the financial impact from the Morocco earthquake was said to be manageable, it triggered a maximum payout of $275m from the parametric cover. We spoke with Gallagher Re MENA’s Mr Chems Eddine Kassali.

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