Algeria

Housing insurance rate does not exceed 6% at the national level

The Director General of the National Insurance Company, Nacer Sayes, confirmed, today, Thursday, in Blida,  that the insurance rate for housing does not exceed 6 percent at the national level, which he described as “very small.”

On the sidelines of his supervision, with the Wali of Blida, Kamel Nouisser, on the inauguration of a new commercial agency in the new city of Bouinan, Sayes explained that “the percentage of citizens’ demand for securing their housing does not exceed 6 percent, although the financial value of housing insurance is symbolic.”

The same official added that the percentage of demand for property insurance against natural disasters is also very low, at only about 10 percent, due to several factors, most notably the public treasury’s responsibility to compensate citizens in the event of natural disasters.

Sayes also held insurance companies responsible for the citizens’ reluctance to secure their housing for not taking the initiative to launch sensitization and awareness campaigns to inform citizens and those concerned with this insurance and its advantages, most notably its significant contribution to reviving the national economy.

On the other hand, the President and General Manager of this public company indicated that the latter is working to expand its network of agencies, which reaches now 600 agencies distributed across the various provinces of the country.

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