Al-Bustani and MPs propose insurance brokerage law

The National Economy Committee in Lebanon has proposed a new bill to regulate brokerage and agency activities in the insurance sector, aimed at modernizing the sector's legislative framework and protecting the rights of policyholders, especially in light of recent economic crises and financial collapses. The law seeks to clearly define the powers of independent brokers, insurance agents, and reinsurers, thereby enhancing trust and preventing the recurrence of crises that could harm policyholders. The proposal is based on Law No. 9812 issued in 1968, responding to the need to reorganize a sector that has become a fundamental pillar of the Lebanese economy. It also opens the door for discussions with all stakeholders to ensure the adoption of a legal framework that considers the interests of all parties and safeguards citizens' rights.

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