Finance

Insurance in Morocco: the little flower for motorists already faded

Auto insurance remains mandatory even in times of coronavirus.

In Morocco, the grace period will have lasted 30 days as a result of national solidarity in the face of the coronavirus pandemic (covid-19), which is a first in the annals loaded between the insurer and the insured. Finally, the Moroccan Federation of Insurance and Reinsurance Companies (FMSAR) ended the break. The automatic extension period for auto insurance contracts that expired on March 20 will end on April 30, 2020, the maker said in a statement.

“The automatic extension expires on April 30, vehicles must be validly covered by insurance valid from May 1,” said the Federation’s press release dated Monday, April 27, 2020. The text specifying that the insured who would electing not to renew their contract as of May 1 would remain liable for the premium relating to the period from the expiration of their contract to April 30.

The FMSAR also recalls that to allow its insured to respect the confinement subject to the state of health emergency, its member companies had taken the decision to extend the automobile insurance contracts which expire between March 20, 2020 and April 30 to allow policyholders to renew them according to an exceptionally wide deadline set for April 30. “Auto insurance is compulsory insurance, which is why it must be maintained during the health emergency period,” the statement said. Upon renewal, the insured will receive his insurance certificate as if he had renewed it on due date and will pay the premium for the entire period considered, the press release said.

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