A member of the board of the Algerian Union of Insurance and Reinsurance Companies, Hassan Khalifati, warned of the dangers of low pricing for insurance premiums in Algeria, stressing that it is time to apply a strict rule: 'No payment... No coverage.' He explained that the volume of accumulated debts in the insurance market is currently estimated between 90 and 130 billion dinars, equivalent to about 80 to 90 percent of the annual turnover of the sector, a level that threatens the solvency of companies and the stability of the market as a whole. Khalifati stated in a written statement to 'Echorouk' that continuing to provide insurance coverage without collecting premiums creates a serious imbalance, as companies bear significant risks without ensuring financial resources to meet compensation claims.
Algeria - The process of expanding the powers of public administration representatives at the one-stop shops of the Algerian Investment Promotion Agency continues, through the delegation of State Property Administration representatives to prepare and sign lease contracts for economic land, as part of simplifying administrative procedures and accelerating the realization of investment projects.
Algeria - The General Directorate of Taxes announced today, Sunday, in a statement, the extension of the deadlines for subscribing and submitting a number of tax declarations for taxpayers subject to the real profit system and the single flat-rate tax system, in order to enable them to meet their tax obligations under the best conditions.
Most homes and farms are not insured against fires; farmers are the most exposed to losses due to weak subscription. New insurance products to face climate disasters, digitization, and artificial intelligence to reduce compensation times. Hassen Khalifati, a member of the board of the Algerian Union of Insurance and Reinsurance Companies, warned that the expansion of fires in Algeria, due to heat waves and climate changes, is met with a clear weakness in the demand for fire insurance, which increases the losses incurred by families, farmers, and economic institutions when disasters occur. Khalifati explained, in a statement to 'Echorouk', that there are no accurate and updated statistics to determine the percentage of homes or farms...
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