Inclusive insurance and risk financing in Algeria. Snapshot and way forward 2023

Inclusive insurance and risk financing in Algeria. Snapshot and way forward 2023

December 05, 2023

This report presents the main findings of UNDP’s inclusive insurance and risk finance country diagnostic for Algeria. It sets out key risks, the current inclusive insurance and disaster risk finance landscape, and recommendations to advance inclusive insurance, risk finance and development.

Algeria’s chief risks include earthquakes, drought, floods, forest fires and coastal storms. Inclusive insurance is virtually non-existent. Over 99% of disaster costs are funded by the State, with less than 1% covered by the insurance sector.

Recommendations include revising the design of natural catastrophic insurance; aligning insurance and State aid programmes; and exploring sovereign risk financing solutions.