Insurance companies owe Algerians 25, 000 billion

Figures show that 5 million traffic accident victims did not receive compensation while insurance companies suffer financial liquidity deficit of 25,000 billion centimes.

A number of compensation requests go back to 2006. A total of 5 million Algerians are waiting for compensation while insurance companies are not able to cover their deficit.

In 2015, insurance companies owed Algerians 700 billion centimes. Of them, 200 billion DZ was paid. 

The position of expert in charge of supervision commission assigned to follow up compensation requests has been vacant for three years. The commission is composed of the Director of the Public Treasury, the insurances Director and two judges. They hold other positions in public insurance companies. 

The same figures show that insurance companies signed 3 million contracts with 33 billion DZ turnover.