Traffic Accident Victims To Receive Over DZD 7430 Billions Within 40 Days

The last deadline that was granted by the Finance Ministry to the insurance companies that are active in the national market, which eliminates the inventory of outstanding files for its customers for more than 5 years will be by December 31.

Sanctions will be imposed against these companies if they are not committed to settle the outstanding issues, despite the impossibility in a short time, given the financial situation of dealers and the decline in the number of their work by 3% within six months as a result of the suspension of import cars and stagnation in the market, noting that the outstanding files now exceed 4 million files, most of which are related to victims of traffic accidents, while the debts of customers reach, up to last June, over DZD 7430 billion .

According to data, that is available to Echorouk, the insurance companies will be obliged in the end of the year to prove the elimination of the outstanding inventory of files for several years, which exceeds 4 million files, knowing that these companies have received several warnings for 5 years and a renewed career without folding the file and many of them resorted to the courts in light of the delay of the dealers in the delivery of their dues, and the filing of complaints in bulk at the Consumer Protection Association for victims of insurance companies.

According to a document that was issued by the National Insurance Council, which copy is available to Echorouk, the first six months of the current year witnessed a decline in the number of insurance companies’ businesses by 3% compared to 2016, with a total value of DZD 700 billion. 

The number of insurance for cars fell by 3.8% to just DZD 345 billion, and in the agricultural insurance category, the number fell by 27.3% which is DZD 13 billion, while the insurance number on transport decreased by 16.7% percent , With a total of DZD 23 billion, and with regard to the loan insurance category it increased exclusively by 38.3% to reach 91.9 billion centimes due to the growth of consumer loans for cars and home appliances.

As for the insurance branch for persons, its figures were stable during 2017, at 675 billion centimes, compared with 672 billion centimes in 2016. 

In terms of accidents, the number of transactions was estimated at 91 billion centimes, and and sick leave reach 5.3 billion centimes, Life insurance and mortality noticed a positive growth of 32.5%, which is equivalent to 220 billion centimes compared with 170 billion centimes in 2016.

The number of files that are processed by insurance companies increased in 2017 to reach 2690 billion centimes. 

In terms of the accumulated file stocks of these companies, they fell by 2.1%.