Best's Commentary: Industry-Backed Solutions Likely to Support Morocco Earthquake Relief Despite Low Insurance Penetration
LONDON, September 15, 2023--The devastating earthquake that struck Morocco on 8 September 2023 affected an area with low insurance penetration. However, a new commentary from AM Best notes that a parametric insurance arrangement covering part of Morocco’s National Catastrophic Event Coverage Scheme is expected to be triggered and could result in a maximum payout of MAD 2,750 million (approximately USD 270 million).
Source: yahoo.com