General Insurance Agent

General Insurance Agent

A general insurance agent is any natural person who represents one or more insurance companies, by virtue of an appointment contract carrying his approval as such.

The general agent, in his capacity as agent, puts:

    on the one hand, its technical expertise available to the public, with a view to researching and subscribing to the insurance contract on behalf of its principal;
    on the other hand, at the disposal of the company or companies that it represents, its personal services and those of the general agency, for the contracts whose management is entrusted to it.

1. Legislative and regulatory references:

    Ordinance n ° 95-07 of 25-01-1995 relating to insurance, title III, chapter I, section 1 and 3, articles 252 to 257 and 263 to 268 (OJ n ° 13 of 08-03-1995).
    Executive Decree n ° 95-340 of 10-30-1995 setting the conditions for granting and withdrawing authorization, professional capacities, remuneration and supervision of insurance intermediaries (OJ n ° 65 of 10-31 1995) amended and supplemented by executive decree n ° 17-192 of 11 June 2017 (OJ n ° 36 of 14-06-2017).
    Executive decree n ° 95-341 of 10-30-1995, establishing the statutes of the general insurance agent. (OJ n ° 65 of 31-10-1995).

2. Conditions of approval:

The approval of a general insurance agent is subject to the following conditions:

    Be of good character;
    Be at least 25 years old;
    Be of Algerian nationality;
    Possess one of the following professional capacity conditions:
        a) Hold a third year secondary level or a professional certificate in insurance, and justify professional experience in the technical field of economic insurance, or in other similar fields with an insurance company or insurance intermediary, for a period of at least seven (7) years;
        b) Hold a higher insurance technician's certificate and prove professional experience in the technical field of economic insurance, or in other similar fields with an insurance company or insurance intermediary, a a minimum of five (5) years;
        c) Hold a higher education diploma (baccalaureate level + two (2) years, at least), and justify professional experience in the technical field of economic insurance, or in other similar fields with an insurance company or insurance intermediary, for a period of at least three (3) years.

By assimilated fields we mean the fields of commerce, marketing, IT, reinsurance, finance and accounting.

If they do not have the professional experience provided for in point c) above, the applicant can prove that they have completed at least eighteen (18) months of training in economic insurance, provided by a specialized training institute. professional, or by a training establishment approved by the State.

    Have a financial guarantee either in the form of a deposit with the treasury, as a surety, or a bank guarantee issued up to the amount of the guarantee set:
        to five hundred thousand dinars (500,000.00 DA) for the general agent of damage insurance;
        two hundred and fifty thousand dinars (250,000.00 DA) for the general agent of insurance of persons;
    Be resident in Algeria;
    Have premises for commercial use as owner or tenant, for the exercise of the activity of general insurance agent, meeting the requirements of the specifications according to the standard model established for this purpose by the association of insurance companies.

The standard model, thus established, of the specifications, is submitted by the aforementioned association for the approval of the insurance control administration, within two (2) months from the publication. of this decree in the Official Journal.
3. Constitution and submission of the approval file:

The approval file, to be filed with the company that the general agent wants to represent, must include the approval request accompanied by:

    A birth certificate;
    An extract from the criminal record n ​​° 3;
    A certificate of nationality;
    A certificate of residence;
    a written declaration from the applicant confirming that he does not exercise any professional activity, deemed by the legislation in force incompatible with the quality of general insurance agent, from the effective date of his appointment contract;
    one or more certificate (s) of professional skills required;
    the diploma (s) required;
    documents justifying the financial guarantees required;
    a copy of the deed of ownership or rental of the premises for commercial use.