What is Multi-Risk Professional Insurance?
The purpose of a multi-risk professional insurance is to cover damage to movable and immovable property belonging to a professional as well as their (his/her) civil liability arising from the exercise of their professional occupation.
The regulations in force governing the exercise of certain liberal professions (e.g. doctors, architects, notaries, etc.) provide for the obligation to take out insurance covering civil liability in respect of these activities.
What is Covered by the Comprehensive Professional Insurance Contract?
The Multi-Risk Professional Insurance Contract guarantees in particular:
- Under the "Professional Liability" coverage:
- the pecuniary consequences of the civil liability that may fall on the professional for bodily injury and material damage caused to third parties as a result of the exercise of professional activity.
- For an additional premium, the "Professional Liability" cover can be extended to include the following guarantees:
- "Operating liability": the pecuniary consequences of the civil liability which may fall on the professional by virtue of Articles 78, 85, 86, 88 and 89 of the dahir forming the code of obligations and contracts, due to physical and material damage caused to third parties other than those resulting from the exercise of their (his/her) professional activity.
- "Defense": to defend the interests of the policyholder school in the event of legal proceedings brought against it as a result of insured damage, before the criminal, civil, commercial or administrative Courts.
- "Appeal": to claim amicably or before a Court compensation from the person responsible for the damage – or their (his/her) Insurer – for the loss suffered by the policyholder school.
- Under the "Damage to Business Property" Coverage:
"Fire and Related Risks" Coverage: any damage caused to the policyholder's property following the occurrence of the following events is covered:
- fire: damage caused by conflagration, flashover or simple combustion;
- explosion and/or implosion: implosions, explosions of gases used for heating, lighting or power, or similar explosives, as well as explosions and water blasts from steam appliances;
- the fall of lightning;
- smoke due to a sudden, abnormal and defective action of a heating appliance or originating from a fire outside the policyholder buildings;
- the impact of an identified land vehicle, provided that the said vehicle does not belong to the policyholder and is not driven by him or her, or by their (his/her) spouse, or by a person usually living under their (his/her) roof, without prejudice to the provisions of Article 18 of the Insurance Code;
- the shaking caused by the breaking of the sound barrier by an air navigation device;
- falling aircraft or parts of aircraft, or objects falling from them.
"Water damage" cover: damage caused to the policyholder property following the occurrence of the following events is covered: leakages, breakages, overflows, water infiltration or freezing.
"Theft" cover: damage to the policyholder goods is covered when this damage results from their disappearance, destruction or deterioration following a theft or attempted theft committed inside the professional building.
Under Article 64-1, comprehensive insurance contracts include mandatory coverage against the consequences of catastrophic events. For more, please consult the "Catastrophic Event Coverage (EV CAT) - Insurance Component" guide published on the ACAPS portal.
Rights and Obligations of the policyholder?
We invite you to refer to the "Insurance Guide" published on the ACAPS portal.
What does the Authority do?
Within the framework of the powers vested in it by Law No. 64-12 establishing the Insurance and Social Security Supervisory Authority, the latter institution ensures that any and all insurance products offered to consumers are understandable, balanced, useful and that they comply with the regulations in force. It also shall monitor the reliability of the information provided to policyholders and ensure the fair treatment of policyholders by Insurers.
Legal/Judicial Remedies in Case of Dispute with Your Insurer?
In accordance with Article 7 of Law No. 64-12, the Insurance and Social Security Supervisory Authority has the power to investigate complaints from customers of insurance companies and the intermediaries (brokers) thereof. Nevertheless, it is recommended that you first contact the broker or Insurer against whom your complaint is directed. If the dispute persists after this step, you can contact ACAPS by one of the means at your disposal. The Authority shall then examine your complaint and take the most appropriate action, in accordance with the legal and regulatory provisions and within the scope of its powers, to settle the dispute.