Car insurance policies set to increase in Algeria

The Algerian Insurance Company general manager, Amara Laatrous has revealed that the insurance fees on cars are set to increase by 5 percent per six months over the next two years starting from now.

In this respect he indicated that most of the insurance companies affiliated to the national council of insurances proposed to the ministry of transport to increase the insurance fees, in a move to better serve the insured on one hand, and increase the companies’ profits on the other hand.

He went on saying that the insurance policy applied by the companies is growing unfruitful, in the sense that the clients are paying less to insure their cars whereas the number of accidents is steadily increasing. The decision will come into force within the next few days or weeks.

The total increase of the insurance fees, according to the head of the national council, will reach up to 20 percent in two years time, to make it possible for thro insurance companies operating on the market to reach a respectable balance.