The Moroccan Federation of Insurance and Reinsurance Companies (FMSAR) and the National Federation of Insurance Agents and Brokers in Morocco (FNACAM) plan to undertake a support and assistance action for the most vulnerable intermediaries to enable them to pass this difficult period marked by the health crisis, announced the two Federations in a joint press release.
Thus, in consultation with the Insurance and Provident Control Authority (ACAPS), the two federations have decided to mobilize to help the 700 agents and brokers who achieve the smallest commercial performance, measured by their figures business.
This new support measure is in addition to the distribution network support measures already in place since the start of the state of health emergency, including that which consists in granting a loan at a subsidized rate equivalent to 3 months of overheads, capped at 100,000 DH, said the same source.
Set up by FNACAM and FMSAR, this new measure consists in granting a donation of a lump sum of 12,000 DH to any agent or broker appearing in the list of 700 smallest intermediaries, excluding in particular those who have more than ten years of existence and those who are in litigation with the companies with which they collaborate.
This subsidy will be granted directly by insurance companies to their general agents who appear on the aforementioned list and by the FMSAR via FNACAM for brokers who appear on this same list.
According to the press release, this flat-rate subsidy is intended to help these intermediaries get through this difficult period and to enable them to continue to present insurance operations and deliver customer service, noting that the general agents concerned will be informed directly by their constituents who will be responsible for remitting the grant of 12,000 DH to them.
The brokers concerned will be notified directly by FNACAM which will give each of them a check from the FMSAR in the amount of DH 12,000. A monitoring committee made up of the two federations will oversee the deployment of the system and will ensure its smooth progress.
LNT with MAP