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Best s Commentary: Industry-Backed Solutions Likely To Support Morocco Earthquake Relief Despite Low Insurance Penetration

Best s Commentary: Industry-Backed Solutions Likely To Support Morocco Earthquake Relief Despite Low Insurance Penetration
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United arab emiratesHong kongCity ofUnited kingdomNoord hollandUnited statesMehdi mouhssineCharlotte vigierMichael dunckleyAm best rating services incSolidarity fund for catastrophic eventsMorocco national catastrophic event coverage schemeWorld bankIndustry researchNews globalNational catastrophic event coverage scheme

Best s Commentary: Industry-Backed Solutions Likely to Support Morocco Earthquake Relief Despite Low Insurance Penetration

LONDON, September 15, 2023 The devastating earthquake that struck Morocco on 8 September 2023 affected an area with low insurance penetration. However, a new commentary from AM Best notes that a parametric insurance arrangement covering part of Morocco’s National Catastrophic Event Coverage Scheme is expected to be triggered and could result in a maximum payout of MAD 2,750 million (approximately USD 270 million).

United statesUnited arab emiratesMexico cityDistrito federalHong kongNoord hollandCity ofUnited kingdomMichael dunckleyMehdi mouhssineCharlotte vigierWorld bankSolidarity fund for catastrophic eventsAm best rating services incIndustry researchMorocco national catastrophic event coverage scheme

AM Best: Best s Commentary: Industry-Backed Solutions Likely to Support Morocco Earthquake Relief Despite Low Insurance Penetration

AM Best: Best s Commentary: Industry-Backed Solutions Likely to Support Morocco Earthquake Relief Despite Low Insurance Penetration
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Baden wübergHong kongUnited statesNoord hollandUnited arab emiratesMexico cityDistrito federalCity ofUnited kingdomMichael dunckleyCharlotte vigierEdem kuenyehiaMehdi mouhssineMorocco national catastrophic event coverage schemeMarket development communicationsSolidarity fund for catastrophic events

Best s Commentary: Industry-Backed Solutions Likely to Support Morocco Earthquake Relief Despite Low Insurance Penetration

The devastating earthquake that struck Morocco on 8 September 2023 affected an area with low insurance penetration. However, a new commentary from AM Best notes that a parametric insurance arrangement covering part of

World bankMorocco national catastrophic event coverage schemeSolidarity fund for catastrophic eventsNational catastrophic event coverage schemeBacked solutions likelySolidarity fundCatastrophic eventsDeferred drawdown optionCatastrophe risk

Best s Commentary: Industry-Backed Solutions Likely to Support Morocco Earthquake Relief Despite Low Insurance Penetration

Best s Commentary: Industry-Backed Solutions Likely to Support Morocco Earthquake Relief Despite Low Insurance Penetration
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United statesUnited arab emiratesHong kongMexico cityDistrito federalNoord hollandCity ofUnited kingdomMehdi mouhssineMichael dunckleyEdem kuenyehiaCharlotte vigierSolidarity fund for catastrophic eventsAm best rating services incWorld bankMorocco national catastrophic event coverage scheme