The gap between the damage caused by the deadly earthquake in Morocco and the property actually insured risks being considerable, with many houses not being covered, reinsurer Scor ruled on Sunday.
The earthquake, which registered a powerful magnitude, inflicted extensive damage on buildings, leaving many homeowners and residents grappling with the financial implications of reconstruction and repairs. In Morocco, as in many parts of the world, property insurance against natural disasters remains an option rather than a legal requirement.
As a result, a substantial portion of the affected population now faces the daunting task of rebuilding their homes without the financial safety net that insurance coverage would have provided. The absence of insurance amplifies the financial strain on individuals and communities already reeling from the devastation.
Experts and authorities are urging homeowners to consider the importance of property insurance, especially in regions prone to seismic activity. While earthquakes are unpredictable, having insurance in place can significantly mitigate the financial impact of such natural disasters.
“Having insurance for your property, particularly in areas susceptible to earthquakes, is a vital precautionary measure. It provides a crucial safety net during times like these,” emphasized Sarah Moussa, an insurance expert based in Casablanca.
In response to the earthquake, there have been calls for increased awareness and education about the benefits of property insurance. The disaster serves as a poignant reminder of the importance of preparedness and proactive measures to safeguard against unforeseen events.
Efforts are underway to explore options for financial support and assistance for those without insurance coverage. NGOs, government agencies, and international organizations are working to provide resources and guidance to affected homeowners, with a focus on helping them navigate the complex process of rebuilding their lives and communities.
As Morocco begins the long road to recovery, the absence of insurance coverage for many affected properties underscores the need for proactive measures to safeguard against the financial impact of natural disasters. It is a stark reminder of the importance of preparedness and resilience in the face of unforeseen events, and an opportunity for communities to come together in support of those in need.
AMN | Anochie’s Report | Rabat.