Lebanese Republic Meeting of the National Insurance Council
Meeting of the National Insurance Council
During its regular meeting, the National Insurance Council considered the recent rising cost of healthcare, in addition to the resulting upward pressures on the insurance installments. To this end, the Council decided to form a subcommittee with the coordination of the Ministry of Public Health and the concerned syndicates in order to provide practical recommendations aiming to reduce this cost.
Furthermore, the Council discussed the measures taken by the Ministry of Economy to better organize the insurance brokerage sector; in particular the latest decision consisting in raising the brokerage companies’ minimum required capital in parallel to the ongoing work to elaborate a new Code of Conduct and establish the Fit & Proper standards to assess the individuals working in this sector.
In addition, the Council addressed the issue of the strategic review launched by the Ministry in order to develop new structures to recapitalize the brokerage companies based on the risks assessment.
At the end, the Council considered the efforts exerted to address number of outstanding issues since the crisis as well as the ongoing work to find relevant sustainable solutions.









