Lebanon: Insurers pay out less than 10% of claims 12 months after Beirut Port blast
Of an estimated $1.1bn in insured losses caused by the 4 August 2020 Beirut Port explosion, only about $100m have been paid to date
Tag Archives: Insurance Companies
Lebanese insurance companies still not compensating Beirut blast victims
Lebanese insurance companies are refusing to compensate for damages caused by last year’s explosion at the Beirut port, pending investigation results.
Lebanon: Insurance association elects new board
The Association of Insurance Companies in Lebanon (ACAL) has elected a new board, with Mr Elie Nasnas, general manager of AXA Middle East as chairman of the association
Thousands Still Wait for Compensation Amid Delay of Beirut Port Blast Investigations
Five months on from the devastating Beirut port explosion that killed over 200 people, and injured thousands more, many claimants inquire about the fate of compensations they expect to receive from insurance companies pending the release of an official report on the cause and nature of the blast.
Lebanon: $10 Billion Stocked In People’s Homes, Companies
The Lebanese are stocking their cash inside their homes or companies due their lack of trust in the country’s banking system.
$1.1 billion in insurance claims are being sought in fresh dollars
More than 14,700 insurance claims for damages resulting from the Port of Beirut explosion have been reported by November 6 with a total value of LL1.66 trillion ($1.1 billion at the official exchange rate of LL1,507), according to a report by the Insurance Control Commission (ICC).
Thousands of Lebanese caught in insurance trap after Beirut port blast damage
Owners of damaged homes and businesses are still waiting for insurance companies to pay compensation three months after August 4 explosion
How to get the CORONA VIRUS insurance in Lebanon?
As per Lebanese General Security circular regarding entry of Arab and Foreign visitors or residents required to have negative PCR with basic healthcare insurance cover at least coronavirus treatment expenses with minimum 40 million LBP during their stay in Lebanon.