The ICC received on 16 November 2018 a delegation from the Board of Directors of the Lebanese Insurance Brokers Syndicate (LIBS) presided by Mr. Elie Hanna.
The Insurance Control Commission (ICC) announced today that Lloyd’s underwriters are permitted to appoint coverholders in Lebanon to write reinsurance business. Intermediaries in Lebanon licensed by the ICC, wishing to be a Lloyd’s reinsurance coverholder, are required to go through the Lloyd’s coverholder approval process.
The Insurance Control Commission (ICC) published the insurance sector annual report for the financial year 2017. The report was issued significantly ahead of the usual time upon requests formulated by a number of stakeholders to allow earlier analysis of trends and performance.
The Insurance Control Commission organized a press conference that was chaired by HE Raed Khoury Minister of Economy and Trade, to announce the issuance of a new ministerial decision enforcing the guaranteed renewability of all medical insurance contracts issued by insurance companies. The decision applies to new and in-force policies and should be implemented within one month from the date of issuance of the decision.