Algeria: Public and private insurance companies announce incentive measures

The chairman of the general union of insurance and re-insurance companies in Algeria, Mr Amara Latrous, has announced the enforcement of a set of incentive measures in favour of vehicle owners as part of their car insurance schemes.

• The chairman of the general union of insurance and re-insurance companies in Algeria, Mr Amara Latrous, has announced the enforcement of a set of incentive measures in favour of vehicle owners as part of their car insurance schemes.
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• Mr Latrous said that all pending insurance files concerning vehicle insurers would be sorted out before the end of December 2012.
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• He also indicated that the insurance companies, be they private or public, had agreed on the introduction of a string of enticing measures for the benefit of all vehicle insurance holders with notably a 50% discount in the cost of such an insurance package.
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• He further said that all files held in abeyance pertaining to car accidents or theft of vehicles would be straightened out more swiftly by the relevant insurance companies not exceeding a time-frame of two months at the latest.
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• This remedial set of measures was agreed upon by the insurance companies in the wake of a firm directive from the Premiership enjoining them to speed up the settlement of all outstanding files in order to put an end to the anarchy now gripping this vital sector of activity.