WORK ACCIDENTS
DEATH – DISABILITY – ILLNESS
BUSINESS RISKS
TRANSPORTATION
VEHICLE FLEET
SAVINGS AND RETIREMENT
PROFESSIONAL LIABILITY INSURANCE
WORK ACCIDENTS
HEALTH INSURANCE
LIFE INSURANCE AND CREDIT LIFE INSURANCE
SAVINGS AND RETIREMENT
This type of insurance has been mandatory since November 2002. All employers subject to the Dahir of 27 July 1972 relating to the social security system are required to have this coverage. This requirement also applies to local authoritiesnd public entities that are not part of the civil service or social security systems.
This insurance supports our society. It aims to ensure that the victim receives additional financial support to offset the loss of income related to wages unearned while being physically unable to work. It also provides dependents with a revenue source in the event of an employee’s death.
Occupational Accident Insurance is a liability insurance taken out by employers in favor of their employees in order to cover the risks associated with their professional activities.
Work accidents include any accident suffered by an employee as a result of his or her work, even if the accident is due to cases of force majeure.
This insurance also covers accidents during travel when the employee is traveling to or from:
The annual pension is equal to the reference salary multiplied by:
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Group insurance, also called collective insurance, is a contract taken out in order to allow coverage for a group of people.
The group of people may be the employees of a company, the members of a professional association; or in a more general sense, a group of people who have something in common other than the purpose of obtaining insurance.
These contracts generally cover a number of risks that can be underwritten separately or combined. The combination to be used depends on the needs of the population to be covered and the business policies of the insurance company.
The most common contract on the Moroccan insurance market is known as “Death – Disability – Illness.”
The insurance premium for all these coverages depends on a certain number of factors, including the average age of the group to be insured, the income of the people in the group, and their health status and medical histories.
Since law 65-00 went into effect in September 2005, private-sector companies have been required to purchase a health insurance plan for the benefit of their employees, which is commonly called Compulsory Health Insurance (Assurance Maladie Obligatoire (AMO)).
Only companies that were already insured through private insurance companies prior to September 2005 are allowed, by way of derogation, to keep their coverage through private-sector insurance. Other companies can only meet this insurance requirement through the CNSS.
The purpose of Health and Maternity coverage is to reimburse the insured and their spouse and children for costs incurred as a result of illness, accidents (other than work-related accidents), pregnancy and childbirth.
The covered services generally include:
The list of covered care, reimbursement rates and maximums are set forth in the contract.
Third-party payment agreements signed by insurance companies with certain service providers enable insured members to obtain care by only paying a small fraction of the costs.
These agreements concern private clinics, CNSS private hospitals, and radiology and analytical testing laboratories.
This coverage provides for the payment of a daily allowance in the event of temporary inability to work; or in the event of permanent disability, the payment of a pension or lump sum.
Disability is evaluated in terms of whether it is expected to be temporary or permanent.
The pension amount depends on the disability rate, as determined by a medical expert, while applying a scale set forth in the contract.
This coverage enables the insured members to protect their families (generally their spouse and children) against the financial consequences of the member’s death, which are characterized by the family’s immediate loss of ongoing income.
The member’s death results in the payment to designated beneficiaries of a lump sum calculated on the basis of the deceased’s annual salary, increased by a percentage relating to their family situation (married or not, number of children…).
The beneficiary clause is extremely important in this type of contract, because in case it is not duly filled with specific names, the death pension to be paid will be subject to the Inheritance Succession Laws.
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Construction All Risks is an insurance policy that covers all risks normally associated with a construction project. It offers complete protection against damage to the structure, equipment used for the execution of the work and / or construction equipment, against material and bodily injury to third parties resulting from the execution of the work. It generally covers the material damage on the site to anything that is an integral part of the final work. The work on the site may be construction or renovation.
It also covers the civil liability of all parties on the site, including bodily or property damage to third parties.
The insurance can be taken out for all construction works (buildings or civil engineering works) such as:
Bridges, canal locks, dams, tunnels, irrigation and drainage systems, canals, port facilities.
Electronic equipment contains important and strategic data for the company.
Damage to such equipment, whether at the hardware level or at the data level, may result in significant losses and, in some cases, jeopardize the future of the company.
Electronic Equipment Insurance covers all sudden and unexpected physical damage resulting from a harmful event not explicitly excluded.
The Electronic Equipment Insurance policy allows the company to protect its electronic equipment, which includes:
Additional coverage may be offered to cover the costs of reconstituting computer data and additional operating costs. Talk to your insurance advisor for more information.
Machinery Breakdown insurance allows companies to protect their production equipment and have the ability to bounce back from the damage suffered by production equipment. Machinery Breakdown insurance operates on two basic principles:
“This is usually a complementary coverage to Construction All Risks. It aims to offer civil liability coverage to those involved in the construction process (engineers, architects (designers), and construction companies) for damage to the structure, building or construction due to errors in the execution of the works.
The policy period is ten years from the date of acceptance of the work, hence the name Ten-year Civil Liability.”
Based on article 769, this coverage applies to the following four situations:
Important
“The architect or engineer and the business owner engaged by the client are responsible when, within ten years from the completion of the building or other structure for which they directed or performed the work, the structure collapses, in whole or in part, or presents a clear danger of collapse, due to a defect in materials, workmanship or the underlying ground.
Architects who did not oversee construction work are responsible only for defects in their plans.
The ten-year period begins on the date of acceptance of the work. Legal action must be undertaken within thirty days from discovery of the event causing the need for coverage; such action cannot be filed after this deadline.”
Insurance companies offer additional coverage adapted to the customer’s needs, such as leakage or third-party civil liability. Talk to your insurance advisor for more information.
The purpose of this insurance is to cover the insured for the financial consequences of liability that that may be incumbent on him because of bodily, material and immaterial damage caused to third parties (including purchasers) by products that the insured delivered, within the framework of the activities defined in the special conditions only, when such damage is caused by a defect in the product or an error in its design, manufacture, processing, repair or delivery.
Since victims are, for the most part, the purchasers of the product, they may bring legal action for damages and interest based on the seller’s breach of contractual responsibilities as well as based on the manufacturer’s or seller’s tort liability.
The direct and indirect causes of damage are generally taken into account.
Insurance companies that offer this coverage set a ceiling and impose a deductible, which may be higher or lower depending on the nature of the business activity and products to be insured. Each product is considered a case by case, resulting in customized coverage.
Companies seeking insurance may see Product Liability policies as restrictive and containing stringent terms. However, it should be remembered that:
NB: It is important to work with an insurance advisor to better define and assess the risk to be covered.
This insurance covers civil liability arising from the business’s operation, including damage caused by its agents, its buildings, installations, machines, equipment, materials, or products at any point from manufacture to delivery.
Generally the base coverage is described as follows:
“The purpose of the present contract is to cover the insured against the financial consequences of civil liability that it may incur for bodily, property or intangible damages to third parties resulting from:
Coverage may be extended to:
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Hull insurance compensates the insured for loss and material damage to the ships themselves. It also covers, within the framework of third-party claims, the liability of ship owners and maritime and river carriers.
All Risks
The purpose of Maritime insurance policies on ship hulls is the coverage of loss and damage suffered by the insured ship.
All Risks coverage is the most widely used type because it includes coverage for all damage and losses affecting an insured ship due to any accidents, events or sea misfortunes.
All events that result in loss or damage to the insured ship are automatically covered, unless they are specifically the result of an exclusion listed in the policy or in law, in mandatory terms.
Coverage also extends to costs, expenses and disbursements to which the insured person is subject, such as general average contributions, assistance and salvage expenses, and precautionary measures taken to preserve the ship.
FPA
“FPA” insurance covers material loss and damage caused by events specifically listed in the policy.
Shipowners can agree to any other type of insurance and may also request additional coverage: wreck recovery costs, safe arrival, etc.
The Moroccan insurance market offers hull coverage to owners of fishing vessels. The purpose of this coverage is to insure against damage, losses, third-party claims and expenses resulting from sea misfortunes and accidents that affect the insured ship.
Fishing equipment and other special equipment can be covered.
For pleasure boats, the insurance policies available in the Moroccan market are multi-risk policies that include at least:
Insurers also offer defense and legal action coverage, and coverage for the cost of assistance and research, up to the amount of capital previously fixed.
Civil liability coverage for pleasure-craft is a compulsory insurance in Morocco since 2004.
Insurance for goods transported by land within Morocco covers the civil liability of the transport company for the goods entrusted to it (Transporter Civil Liability).
This insurance is also intended for any natural or legal person who wishes to insure, on their own behalf, the goods being transported within Morocco.
The Moroccan insurance market offers two types of contracts:
These insurance contracts cover transported merchandise against any damage it suffers resulting from a “defined accident” of the transporting vehicle (impact, overturning, fall, breakdown, fire or explosion of the transporting vehicle; building collapse…)
Additional coverage is offered by the Moroccan insurance market, such as for theft, costs of salvage following a covered defined accident, and damage caused to goods during loading or unloading.
This insurance covers national commercial airlines. It generally applies to a set of risks that Anglo-Saxons call “Combined Single Limit”:
Given the amount of coverage at stake and the complexity, this insurance is generally catered for at the level of the major international insurance and reinsurance markets, such as London and Paris. Most of its coverage is placed via optional reinsurancehrough the global reinsurance market.
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A company that owns multiple vehicles can group them together under a single insurance contract.
This contract, commonly called a “vehicle fleet policy,” makes it easier for the insured company to manage the insurance needs of its vehicle fleet and allows it to benefit from certain advantages of coverage apart from the obligatory civil liability coverage.
The possibility of paying the premium over time (paying every six months, every quarter or even annually) makes this type of contract even more appealing.
In addition to compulsory civil liability coverage, insurance companies offer a range of coverage to better protect drivers and passengers and offer better compensation for damage to insured vehicles.
This coverage allows the passengers of the accident vehicle to be compensated even if the driver is responsible for the accident. Passenger policies cover medical expenses, short-term disability, long-term disability and death.
This covers material damage to the insured vehicle whether or not you were responsible for the accident, as long as another duly identified vehicle was involved .
This covers damage to the insured vehicle, whether or not you were responsible for the accident and whether or not another vehicle was involved. Notice of damage alone suffices for this coverage to apply, subject to contractual conditions, exclusions and limits.
These two coverages may, as a general rule, be taken out separately or jointly. In the event of a loss, the payment is equal to an expert determination of the market value of the vehicle as of the date of the fire or theft, minus a deductible indicated in the contract.
This coverage allows your insurer to take charge of your defense if you are sued in court following an accident involving your liability. It also allows your insurer to defend your interests by taking legal action against the party responsible for an accident in which you were a victim.
This coverage is purchased through an assistance company contracted with your automobile insurer. Assistance coverage provides you with certain services, such as the towing or transport of your vehicle, the transportation of passengers in the event of an accident or breakdown, and other services depending on the type of contract you chose.
This covers damage to the windshield and other windows of your vehicle. A deductible is generally applied to this coverage.
The joint report filled out and signed by the two drivers upon occurrence of an accident enables the insurer to identify the parties and learn the circumstances of the accident.
It is important to be aware that a joint report is an irrevocable document once it has been signed by the parties involved.
The joint report must be sent by each driver to their auto insurer within five working days after the accident date.
It serves as an accident report.
In the event that you are potentially partially or totally responsible for the accident, your insurer will trigger a procedure allowing you to benefit from the reimbursement of expenses incurred for the repair of your vehicle.
Many companies will direct you to an approved auto repair garage, and you will only have to pay the portion of the cost that remains your responsibility, especially if you are partially responsible or if a deductible is to be applied.
Note: If your vehicle is damaged beyond repair or it presents a danger to traffic, it will be written off.
The Direct Compensation Agreement allows insurance companies to directly compensate both of the insured drivers involved for material damages, regardless of fault.
This Agreement applies only to automobile accidents, regardless of the amount of damage to the vehicle.
Liability is determined on the basis of the joint report or the police report, and according to the liability scale set forth in the agreement.
The green card is mandatory for driving on European territory. It proves that the person is insured for damage caused to third parties in a traffic accident that may occur within Europe.
This coverage is only valid for countries shown on the green card. It does not cover compulsory “civil responsibility” toward third parties.
As for the orange card, it allows for the extension of civil auto liability coverage to Arab countries, in compliance with the provisions of the Tunis convention of 26 April 1975 between member countries of the Arab League.
As of July 6th, 2006, a new system known as “Rebate/Surcharge coefficient” has been put in place in lieu of the Bonus/Malus system.
This system affects the insurance premium price using a coefficient that functions as follows:
These rates will be, respectively, 15% and 20% if you were using a vehicle intended for the public transport of travelers or if you were the holder of an auto repair shop civil liability policy.
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These are life insurance contracts whose value is expressed not in dirhams but in shares of securities (generally in UCITS shares). The financial risk here is borne by the policyholder, who is directly affected by the fluctuation of the underlying securities to which the contract is linked.
Unit-linked contracts are just being launched on the Moroccan market. They are much more likely to be available through banking networks than through the traditional networks of insurance agents and brokers.
This type of policy requires a certain awareness of the financial markets on the part of policyholders so that they can evaluate the investment risks that they are taking.
The risks are, however, mitigated given the long-term nature of the investment through an insurance company.
Capitalization contracts obtained through insurance companies benefit from a tax-incentive framework. The interest corresponding to the revaluation of the savings in this type of contract is completely exonerated from income tax after the eighth policy year. Contracts of the “educational savings scheme” or “project savings” type are particularly concerned.
In order to encourage Moroccans to save for retirement, legislators have put in place an advantageous tax system for retirement policy holders.
An employee may deduct the entirety of the premiums paid under a retirement contract from their annual taxable income, with no limit on amount. In other words, if their annual income is 200,000 dhs and they put 30,000 dhs per year into a retirement account, they will only pay income tax on 170,000 dhs of their earnings.
A non-employee (whatever may be their income category) has the right to deduct up to 6% of their annual taxable income by paying up to that amount into a retirement contract account. In other words, a non-employee who declares an annual taxable income of 200,000 dhs is allowed to deduct the equivalent of 12,000 dhs for retirement insurance premiums. Their taxable income is thus reduced to 188,000 dhs.
Employees who have other sources of income must choose between the unlimited deduction available against their salary income and the maximum 6% deduction on total earnings (salary and other earnings).
To benefit from these tax advantages, the taxpayer must enter into a contract of more than eight years and the benefit age must be greater than 50 years.
Upon expiration of the contract, insured taxpayers must pay tax on the accrued capital or on the payments that will be made to them. Reductions and calculation methods significantly reduce this tax, making this plan overall extremely advantageous, and ensuring that retirement insurance contracts are the best performing and most profitable investment in the long term.
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These are life insurance contracts whose value is expressed not in dirhams but in shares of securities (generally in UCITS shares). The financial risk here is borne by the policyholder, who is directly affected by the fluctuation of the underlying securities to which the contract is linked.
Unit-linked contracts are just being launched on the Moroccan market. They are much more likely to be available through banking networks than through the traditional networks of insurance agents and brokers.
This type of policy requires a certain awareness of the financial markets on the part of policyholders so that they can evaluate the investment risks that they are taking.
The risks are, however, mitigated given the long-term nature of the investment through an insurance company.
Capitalization contracts obtained through insurance companies benefit from a tax-incentive framework. The interest corresponding to the revaluation of the savings in this type of contract is completely exonerated from income tax after the eighth policy year. Contracts of the “educational savings scheme” or “project savings” type are particularly concerned.
In order to encourage Moroccans to save for retirement, legislators have put in place an advantageous tax system for retirement policy holders.
An employee may deduct the entirety of the premiums paid under a retirement contract from their annual taxable income, with no limit on amount. In other words, if their annual income is 200,000 dhs and they put 30,000 dhs per year into a retirement account, they will only pay income tax on 170,000 dhs of their earnings.
A non-employee (whatever may be their income category) has the right to deduct up to 6% of their annual taxable income by paying up to that amount into a retirement contract account. In other words, a non-employee who declares an annual taxable income of 200,000 dhs is allowed to deduct the equivalent of 12,000 dhs for retirement insurance premiums. Their taxable income is thus reduced to 188,000 dhs.
Employees who have other sources of income must choose between the unlimited deduction available against their salary income and the maximum 6% deduction on total earnings (salary and other earnings).
To benefit from these tax advantages, the taxpayer must enter into a contract of more than eight years and the benefit age must be greater than 50 years.
Upon expiration of the contract, insured taxpayers must pay tax on the accrued capital or on the payments that will be made to them. Reductions and calculation methods significantly reduce this tax, making this plan overall extremely advantageous, and ensuring that retirement insurance contracts are the best performing and most profitable investment in the long term.
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This is a term life insurance policy that enables a credit-granting organization (bank or finance company) to protect itself against the consequences of the death of a borrowing client.
In this type of policy, the insurance company pays the policyholder’s debts when the policyholder dies.
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Health and Maternity coverage reimburses the subscriber, as well as their spouse and children, for medical expenses incurred as a result of illness, accident (other than work accidents), or pregnancy and childbirth.
The list of covered care, reimbursement rates and maximums are set forth in the contract.
Third-party payment agreements signed by insurance companies with certain service providers enable insured members to obtain care by only paying a small fraction of the costs.
These agreements concern private clinics, CNSS private hospitals, and radiology and analytical testing laboratories.
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In their work environment, some liberal professions may be exposed to professional errors that may harm their clients.
Insurance companies offer professional liability insurance to cover the amount of damages caused to third parties (clients, patients, or others) by the insured or its agent as a result of a fault, error or negligence. This amount can in some cases be extremely high.
Professional liability policies do not cover:
The following non-exhaustive list indicates some of the professionals who can obtain a professional liability policy:
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This type of insurance has been mandatory since November 2002. All employers subject to the Dahir of 27 July 1972 relating to the social security system are required to have this coverage. This requirement also applies to local authoritiesnd public entities that are not part of the civil service or social security systems.
This insurance supports our society. It aims to ensure that the victim receives additional financial support to offset the loss of income related to wages unearned while being physically unable to work. It also provides dependents with a revenue source in the event of an employee’s death.
Occupational Accident Insurance is a liability insurance taken out by employers in favor of their employees in order to cover the risks associated with their professional activities.
Work accidents include any accident suffered by an employee as a result of his or her work, even if the accident is due to cases of force majeure.
This insurance also covers accidents during travel when the employee is traveling to or from:
The annual pension is equal to the reference salary multiplied by:
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