General Information

With the exception of the chairman, the members of the board of directors of insurance companies, and the legal representative of foreign companies, only intermediaries can approach the general public for the commercialization of insurance products (Legal reference: Insurance Law, article 38).

The intermediary is meant to be:

  • An independent broker: Natural & Juridical person in the field of insurance

    This is a person or a firm exclusively active in the field of insurance brokerage, offering technical advice to the insured and working for his sole interest.
    There is an obligation upon the brokers to inform the policy buyers of any direct legal or material relationship between them and any insurance company, and of any association between them, if such relationship or association may restrict the buyer’s freedom in choosing the policy that suits them.

  • Insurance delegate

    This is a natural person specifically working for the account and under the responsibility of an insurance company, an insurance broker, or a general insurance agent. He will work exclusively for one of the three mentioned bodies but he may at the same time work for the account and under the responsibility of an insurance company, an insurance broker, or a general insurance agent, as long as this secondary work does not conflict with his original work and on condition that he obtains an authorization from the original employer. The authorization is limited in time and may be renewed on yearly basis.

Licensing Requirements

  • Independent brokers

    • Minimum age is 25 years
    • Clean legal record
    • Certified certificate from the education ministry (Decree 2403 on 11/2/2000)
    • Experience up to 3 years in brokerage with a valid university degree or a minimum experience of 10 years in brokerage with a valid pre-university degree (Decree 2403 on 11/2/2000)
    • Active exclusively in the field of insurance
    • Bank guarantee for a value of 25,000,000 LBP
  • Insurance delegates

    • Minimum age is 21 years
    • Clean legal record
    • Work for the account and under responsibility of an insurance company or an insurance broker, with a pledge to do so
    • Certified certificate from the Ministry of Education (Decree 2403 on 11/2/2000)
    • Bank guarantee for a value of 5,000,000 LBP

All required application documents are available for download.