Conflict between businesses and insurance companies concerning responsibility for damages from the 4 August Beirut port explosion has erupted into the open, pushing a major trade chamber to engage a complaint handling specialist to negotiate between the two sides.
Practically every private household in Lebanon relies on one or other insurance service, beginning with the mandatory protection of motorists under third-party liability insurance or savings schemes offered by life insurers.
Lebanon’s insurance companies will change most of their insurance policies to the current pound price rates in the parallel market as the sector reels under the severe economic conditions
Lebanon’s insurance sector is highly fragmented, featuring extreme competition between small local players, bank-affiliate insurers, providers that are parts of multinational insurance giants, and—outside of the regulated sphere of commercial insurance companies
Lebanese Minister of Economy, Mr Raoul Nehme, called on insurance companies to cover COVID-19 in their insurance plans, stressing the need for “all parties to play their part in providing appropriate support
All the insurance companies in the country will fully cover policyholders that are being treated for coronavirus infection, said Elie Torbey Chairman of the Association of Insurance Companies (ACAL).
The Insurance Control Commission organized an introductory lunch for the Minister of Economy and Trade, HE Mr. Mansour Bteich with the insurance sector.
At the end of April, the imposition of rules on guaranteed renewability (GR) in health insurance was introduced to the public under ministerial decree 186, issued by the Ministry of Economy and Trade (MoET). Executive sat down with Nadine Habbal,
Minister of Economy and Trade, Raed Khoury, on Wednesday said that the positive political developments in the country reinforce the resilience of the national economy in the face of regional challenges.