Morocco's Minister of Economy and Finance, Nadia Fettah, has transmitted a draft law amending and supplementing Law No. 17.99 on the Insurance Code to the General Secretariat of the Government (SGG). The move aims to initiate a consultation process with stakeholders, according to official sources.
The proposed legislation seeks to modernize the regulatory framework for the insurance sector in Morocco. The draft law includes provisions to enhance consumer protection and strengthen the solvency requirements for insurance companies, aligning with international standards.
Minister Fettah's initiative is part of broader efforts to reform the financial sector and improve the business environment. The consultation period will allow industry professionals, consumer groups, and other interested parties to provide feedback before the bill is submitted to Parliament.
The Insurance Code, originally enacted in 2002, has undergone several amendments. This latest reform aims to address emerging challenges in the insurance market, including digitalization and new risk types.
