Farid Al-Boustani: Draft Law on Insurance Brokerage at Discussion Stage

The news covers a bill proposed by the Lebanese Parliament to regulate brokerage and representation activities in the insurance sector, aiming to update the legislative framework and protect the rights of policyholders. This comes after observations of a legislative vacuum threatening the proper functioning of the sector, especially following the recent financial collapse. The law includes definitions and specifies the authorities of independent brokers, insurance agents, and representatives, with the goal of safeguarding policyholders' rights, strengthening trust in the sector, and keeping pace with economic developments over the years. The proposal will be discussed with relevant authorities, and it is considered an important step toward modernizing laws that have been in place for over fifty years. Priority is given to protecting consumers' rights and ensuring transparency within the industry.

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