Rabat, Morocco – (African Boulevard News) – The devastating earthquake that struck Morocco on Sunday has highlighted a concerning reality: many houses affected by the disaster were not insured. According to reinsurer Scor, there is a significant gap between the damage caused by the earthquake and the coverage provided by insurance policies.
The earthquake, which measured 6.5 on the Richter scale, sent shockwaves throughout the country, leaving a trail of destruction in its wake. However, it has become evident that a large number of homeowners did not have insurance policies in place to protect their properties and belongings.
The lack of insurance coverage leaves these homeowners vulnerable to significant financial losses. Without insurance, they will be solely responsible for the costs of repairing or rebuilding their damaged properties. This burden can be especially heavy for individuals and families who have limited financial resources.
The situation is causing concern among experts who have long advocated for the importance of insurance. They argue that insurance provides a safety net for homeowners, offering financial protection in the event of natural disasters or other unforeseen events.
“It is disheartening to see that so many houses affected by the earthquake were not insured. This highlights the need for greater awareness and understanding of the importance of insurance,” said Ahmed Moussa, a local insurance agent.
The earthquake has served as a wake-up call for homeowners, prompting many to reevaluate their insurance needs. In the aftermath of the disaster, insurance companies have reported an influx of inquiries and applications for coverage.
“The earthquake has reminded people of the unpredictable nature of life. It has prompted many individuals to seek insurance coverage to protect their most valuable assets,” said Fatima Mokhtar, an insurance industry expert.
Experts believe that the earthquake will serve as a catalyst for change in the insurance landscape. It is hoped that individuals and families affected by the disaster will recognize the value of insurance and take steps to protect their homes and belongings.
While it is impossible to predict when or where the next earthquake will strike, being adequately insured can provide homeowners with peace of mind. Insurance coverage can help alleviate the financial burden that comes with natural disasters or unforeseen events, enabling homeowners to recover and rebuild.
As Morocco reflects on the devastation caused by the recent earthquake, it is an opportune moment for individuals and policymakers to rethink the importance of insurance. By taking proactive steps to increase awareness and accessibility to insurance products, the country can enhance its resilience in the face of future disasters.
