1. 1. Context: why reform the Insurance Code now in 2026?
Morocco's Insurance Code (law 17-99) was enacted in 2002. Twenty-four years later, it neither integrates generalized electronic signatures, banking APIs (PSD2-like), nor cyber and climate risks. Yet the market has doubled, growing from 25 billion MAD in premiums in 2010 to over 60 billion in 2025.
ACAPS (Insurance and Social Welfare Supervisory Authority) published in March 2026 its strategic programme Émergence 2026-2028, with digital transformation of the legal framework as its number one pillar.
The African Development Bank confirmed in April 2026 a 680,000 USD grant to support Morocco's InsurTech strategy, including regulatory support for Open Insurance.
The public consultation opened by the SGG specifically targets Book IV (insurance contract, distribution, intermediation), considered the main lock to release in order to unleash innovation.
Projected timeline
SGG consultation: 2026 · Parliamentary adoption targeted: Q4 2026 or H1 2027 · Application decrees: 2027-2028 · Full InsurTech provisions entering into force: 2028.
2. 2. Pillar 1 — Digitalization of the contractual framework
The first work stream is to fully recognize the digital insurance contract, from quote to termination, including advanced electronic signature and probative archiving.
- Explicit recognition of the 100% paperless contract (subscription, amendment, claim)
- Advanced or qualified electronic signature accepted for all insurance acts
- Legal archiving in digital format with probative value aligned with law 43-20
- Pre-contractual communication and IPID in enforceable digital version
- Secured 14-day withdrawal period for distance selling
What it means for you
No more need to sign at a branch: a quote received by email, signed via OTP or electronic certificate, will have the same value as a paper contract. Anytime termination also becomes digitally applicable.
3. 3. Pillar 2 — Open Insurance and API supervision
Modeled on European Open Banking, the reform introduces the concept of Open Insurance: a framed sharing of insurance data between insurers, licensed intermediaries, and aggregators such as wafir.ma, under ACAPS supervision.
| Shared data | Recipient | Consent required |
|---|---|---|
| Auto claims history (5 years) | New insurer or broker | Yes, revocable |
| Bonus-malus | Licensed comparator | Yes, granular |
| Ongoing health coverage | Care network | Yes, per claim |
| Life / capitalization contracts | Wealth advisor | Yes, time-limited |
Insurance companies will have to expose standardized APIs allowing a policyholder, after explicit consent, to transfer their claims history, auto bonus-malus, or health coverage to a new insurer or comparator.
ACAPS is in parallel building an API supervisor: a technical environment allowing it to monitor flows, data quality, and operator compliance in real time.
4. 4. Pillar 3 — Dedicated cyber-risk coverage
Cyber-risk becomes a recognized branch in the Code, with specific rules for underwriting, pricing, and claims management.
- Creation of a dedicated cyber-risk branch, distinct from traditional damage branches
- Reinforced information obligation on exclusions (ransomware, cyber-war acts, etc.)
- Articulation with data privacy law 09-08 and DGSSI for incident reporting
- Framework for SME cyber policies, identified as a priority market
- Specific framework for climate risk coverage (drought, floods) in parallel
Why now
Morocco experienced major cyberattacks in 2024-2025 (CNSS, telecom operators). The near-non-existent cyber-insurance market must be legally structured before attracting international reinsurance capacity.
5. 5. Pillar 4 — Easier borrower insurance delegation
Probably the most consumer-awaited measure: the definitive clarification of the right to delegate borrower insurance for mortgage and consumer loans.
| Element | Before 2026 | After reform |
|---|---|---|
| Bank response deadline | Not framed | 10 business days max |
| Refusal motivation | Optional | Mandatory and detailed |
| Switching during the loan | Quasi impossible | Annual on anniversary date |
| Potential savings | 0-15 % | 30-60 % over the term |
Today, law 110-14 theoretically recognizes the right to freely choose your borrower insurance, but banking practice de facto imposes the in-house group insurance. The reform locks in this right with deadlines and penalties.
Banks will have to accept any external insurance offering an equivalent level of guarantees, within a maximum of 10 business days, otherwise penalties will be paid to the borrower.
Estimated average gain
On an 800,000 MAD mortgage over 20 years, insurance delegation can represent savings of 40,000 to 80,000 MAD over the total loan duration.
6. 6. Pillar 5 — Overhaul of distribution and intermediaries
The revised Book IV updates the status of intermediaries (general agents, brokers, insurance agents) and introduces categories adapted to digital.
- Creation of an ACAPS-licensed digital broker / comparator status
- Reinforced duty to advise: mandatory written traceability of recommendations
- Mandatory annual continuing education (15 hours min., including 3h cyber and 3h compliance)
- Transparent remuneration: commission displayed to the policyholder on life and borrower contracts
- Specific regime for micro-insurance and digital bancassurance intermediaries
- Graduated ACAPS sanctions: warning, fine, suspension, license withdrawal
7. 7. Expected impact 2027-2028 for consumers
If the timeline holds, Moroccans should benefit from 2027-2028 from a significantly more transparent, mobile, and competitive insurance market.
For individuals
- Recognized 100% online subscription, from quote to claim
- Infra-annual termination (after 1 year of commitment) for auto and home
- Easier comparison thanks to Open Insurance and licensed comparators
- Borrower delegation enforceable against the bank, savings of 30-60%
- New offers: PAYD (Pay As You Drive), daily micro-insurance, usage-based insurance
For SMEs
- Easier access to cyber-insurance with a clarified legal framework
- Digital bancassurance for merchants and self-employed
- Reinforced duty to advise on multi-risk professional coverage
- Structured climate coverage for agriculture and tourism
wafir.ma's position
As an independent comparator, wafir.ma is preparing for the ACAPS-licensed digital broker status to remain the neutral partner of Moroccan consumers in this new framework.
8. FAQ
Q.When will the Insurance Code reform enter into force in Morocco?
Q.What is Book IV of the Insurance Code?
Q.What is Open Insurance?
Q.Will I really be able to freely choose my borrower insurance after the reform?
Q.How much can I save through borrower insurance delegation?
Q.Will the electronic signature be valid for my insurance contract?
Q.What is PAYD (Pay As You Drive) insurance?
Q.Will cyber-risk be covered by classic insurance policies?
Q.Will comparators like wafir.ma be regulated by ACAPS?
Q.How can I follow the reform's progress?
Anticipate the reform: compare your insurance now
Whether you are a mortgage borrower wishing to delegate your insurance, a driver looking for the best offer, or an SME executive seeking cyber coverage, wafir.ma compares Moroccan insurer offers for free and accompanies you toward the new rules of the game.
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