Highlights

Mr. Mohamed BENCHAABOUN chairs the ceremony for the inauguration of Mr. Abderrahim CHAFFAI, appointed Director of the compensation scheme for catastrophic events : 11/06/2019

Mr. Mohamed BENCHAABOUN chairs the ceremony for the inauguration of Mr. Abderrahim CHAFFAI, appointed Director of the compensation scheme for catastrophic events

Mr. Mohamed BENCHAABOUN, Minister of Economy and Finance, chaired, Tuesday, June 11th 2019 in Rabat, in the presence of Mr. Noureddine BOUTAYEB, Minister Delegate to the Minister of the Interior, the ceremony for the inauguration of Mr. Abderrahim CHAFFAI, appointed Director of the Fonds de Solidarité contre les Evénements Catastrophiques (the compensation scheme for catastrophic events) at the Ministers meeting of June 4th 2019.

In his speech, the Minister congratulated Mr. CHAFFAI for having gained the confidence of the King. He stated that this appointment is the result of a long process to implement the device to cover against the consequences of catastrophic events of natural and human origin, carried out by the Ministry of Economy and Finance in close collaboration with the Insurance and Social Welfare Control Authority and the insurance sector.

Moreover, the Minister stressed the importance of this Fund, which will provide the persons who do not have insurance cover, with a minimum right of compensation for the bodily and material damages after a catastrophic event, thus enhancing their resilience and withstanding potential socio-economic impacts.

Mr. Noureddine BOUTAYEB, Minister Delegate to the Minister of the Interior, congratulated Mr. CHAFFAI for his appointment at the top management of the compensation scheme for catastrophic events (Fonds de Solidarité contre les Evénements Catastrophiques). During this event, he highlighted the efforts of his Ministry for implementing measures to prevent natural disasters and preparing a national integrated risk management strategy.

The Minister Delegate also stressed that the Ministry of the Interior will create a national risk officer which will be responsible for managing a network of risk officials at the departmental and territorial level and implementing the national risk management strategy which is being completed.

On the other hand, Mr. CHAFFAI expressed his pride for the royal trust placed in him. He stated that the success of the device of the cover against natural disasters depends on the prevention measures already initiated, which can significantly reduce the country's exposure to catastrophic risks.

m Mr. CHAFFAI has a great experience in the insurance sector. He particularly worked with the teams of the Ministry of Economy and Finance on the law establishing the device to cover against the consequences of catastrophic events and had the opportunity to discuss with international reinsurers the coverage established by the above law.