For the first time in five years, the National Insurance Council, an organization made up of government-appointed members and sector representatives, held its first meeting Friday at the invitation of Economy and Trade Minister Amer Bsat.  This is a "long-awaited" initiative aimed "at revitalizing the Council’s central role in developing the insurance sector and strengthening the protection of citizens’ rights," according to a statement from the Ministry.  This meeting provided the opportunity for participants to adopt an action plan targeting five major areas: the recapitalization of insurance companies following the financial crisis, voluntary mergers between those companies, the reevaluation of management and licensing conditions for insurance brokers, hospital and medical inflation and its impact on the cost of insurance and the issue of health mutuals.  According to the statement, participants also "discussed the importance of formulating a unified national strategy for the functioning of the National Insurance Council, in order to ensure effective coordination between the various stakeholders and to organize work mechanisms in the interest of Lebanon’s insurance sector, while strengthening its ability to face current challenges."  This meeting took place two weeks after Bsat announced the appointment of Nadim Haddad as president of the Insurance Control Commission (ICC), a regulatory body attached to the Economy and Trade Ministry, a position that had been vacant for more than 10 years and is now part of this Council. The decision to make the appointment was taken during the Parliament meeting held on June 16, 2025. (ICE BEIRUT)

Fonte notizia: L'Orient Today