Beirut Port Explosion Marine Insurance Insights

The article addresses the Beirut Port explosion from the perspective of marine insurance and legal liability six years after the disaster. It explains that the insurance policy covering Beirut Port's liabilities does not include war risks, leaving the Lebanese state and insurance companies bearing losses of approximately $15 billion. Meanwhile, insurance companies have suspended compensations to the affected parties pending the issuance of a judicial decision. Citizens’ rights remain threatened by statutes of limitations or potential nullification due to deficiencies in coverage and neglect of proper legal procedures. The article emphasizes the importance of uncovering the truth regarding the welding work tender and the actual coverage of insurance policies, while also holding management and the relevant authorities responsible for failing to provide adequate risk coverage. It also highlights the possibility of seeking new claims through the courts if current settlements are deemed unlawful.

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