The Lebanese Insurance Brokers Syndicate has informed the Minister of Economy and Trade, Mr Mansour Batish, of the proposed establishment of a regional association of Arab insurance brokers to be based in Lebanon.
The Arab association is proposed by Lebanon and has secured the approval of Morocco and Egypt so far. The insurance broking communities of other Arab states are expected to join the new body.
The news of the proposed association was announced by Mr Elie Hanna, president of the Lebanese Insurance Brokers Syndicate, at a meeting with the Insurance Control Commission (ICC), which is part of the Ministry of Economy and Trade.
Mr Hanna also briefed Ms Nadine Al Habbal, the acting head of the ICC, about conditions in the insurance sector and the problems faced by intermediaries, including the sale of insurance policies by unauthorised parties.