The gap between the damage caused by the deadly earthquake in Morocco and the property actually insured is likely to be significant, and many houses are not insured, reinsurer Scor ruled on Sunday.
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The death toll for the country, which was hit by a violent earthquake on Friday night, is already at least 2,100 dead.
AFP
This catastrophe is all the more “dramatic”, says Thierry Léger, managing director of Scor, whose job is to insure insurers against large-scale events, for which, in addition to the many losses of human life, many houses were not designed to withstand an earthquake and were therefore difficult to insure against this risk.
According to Jean-Paul Conoscente, general manager of the group’s property and casualty insurance division, the insurance rate is thus lower than in Turkey, which was hit by an earthquake last February, and “the difference between the economic loss and the insured property should be smaller.” be.” more important.
AFP
A preliminary estimate by the World Bank put the economic damage from the disaster in Turkey and Syria at $34 billion, but reinsurer Swiss Re estimated the cost of insurance at $5.3 billion.
In Morocco, “the losses for insurers will be much lower than in Turkey,” Mr. Conoscente stressed, without giving an exact figure.