News Middle East21 Nov 2019

Algeria:Insurers urged to introduce products to mitigate new risks

21 Nov 2019

Insurance experts are advocating new insurance coverage to mitigate emerging risks such as cyber risk.

At a recent insurance seminar which had for its theme, "Insurance between innovation and support", organised by the insurer CASH, participants discussed emerging risks arising from digitisation and new technologies, such as cybercrime, according to a report by Algerian Press Service.

Insurance expert Mr Boudjigha Sofiane, told participants that local insurers should step up cooperation with international specialised insurers who would help them share risk. He said that this process involves the conclusion of reinsurance contracts with the international partners.

CASH Insurance's director of technical operations, Mr Mehdi Chelouche, said that the capability of an insurance company is assessed by its capacity to respond when the client is exposed to any claim.

He added that with the increase in global risks, especially natural risks and the emergence of the risks of digitisation and new technologies, it is now imperative for insurers to expand the range of insurance products and widen the circle of partners.



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