New Prices for Home Insurance Against Earthquakes and Natural Disasters

Public authorities have approved a new review of the standards and rates for mandatory insurance against the risks of natural disasters, particularly earthquakes, by determining the contribution rates to be paid based on the seismic zone in which the property is located and the compliance of the building with Algerian earthquake resistance standards. The new decision was published in the official journal reviewed by 'Echorouk', amending and supplementing the decision dated October 31, 2004, concerning the standards and rates applied in the field of insurance against natural disaster risks. The tables attached to the decision reveal the adoption of a new pricing system that takes into account the degree of seismic risk, the strength of the building, and its compliance with earthquake-resistant construction rules.