SAWT BEIRUT INTERNATIONAL

| 5 December 2022, Monday |

Compulsory insurance to rise

In agreement and cooperation with the Insurance Companies Control Committee of the Ministry of Economy and Trade, the National Compulsory Insurance Corporation has started applying a new tariff on compulsory insurance that covers bodily damages resulting from a car accident for the affected person from 100,000 Lebanese pounds to 400,000 pounds, in return for coverage of three billion pounds. Syrian Pounds, as a minimum, after it was between 750 million and one billion Syrian Pounds.

Sources indicate to Sawt Beirut International that this decision came due to fluctuations in the exchange rate and the loss of the Lebanese pound about 85 percent of its value. However, the conversion of the compulsory insurance policy from the Lebanese pound to the dollar is illegal because this decision needs the approval of the Council of Ministers that exercises its functions within the assets Legal.

    Source:
  • Sawt Beirut International