Farid Al-Boustani: Draft law on insurance brokerage under review

Lebanese MPs, led by MP Fared Al-Boustani, have submitted a bill to regulate brokerage and representation activities in the insurance sector, aiming to modernize legislation, strengthen the protection of policyholders' rights, and improve the organization of relations among the concerned parties. This proposal comes in response to the legislative gaps that emerged after the financial collapse, clearly defining the authorities and roles of independent brokers, representatives, and insurance agents. It emphasizes the importance of dialogue with all stakeholders, such as the Ministry of Economy and regulatory agencies, to ensure a legal framework that seeks to protect citizens' rights and enhance trust in the insurance sector, which has become a pillar of the Lebanese economy. This initiative is part of the Economic Committee’s efforts to update economic laws and follow up on other related issues, such as electricity generators and anti-corruption measures.

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