Representative Farid Al-Bustani announced during a press conference from the House of Representatives the submission of a proposed law to regulate the work of brokerage and representation in the field of insurance, with the aim of modernizing the legislative framework for this sector, enhancing the protection of the rights of insureds, and regulating the relationship between all concerned parties. He explained that the law proposal came as a result of the Economic Committee’s follow-up of the insurance sector file during the last period, especially after the financial collapse, which increased the importance of this sector for citizens. He pointed out that the committee observed a legislative vacuum in regulating the work of insurance brokers, which necessitated the preparation of a law proposal that clearly defines the nature of the independent broker, insurance representative, and insurance agent, and the powers of each of them. Al-Bustani stressed that the proposal constitutes the beginning of a legislative path based on dialogue. In turn, Representative Dr. Ashraf Baydoun explained that the law falls within the framework of regulating the work of insurance bodies and updating the legislation regulating the insurance sector, the basis of which goes back to Law No. 9812 issued in 1968, which has been subject to several amendments. He pointed out that the economic conditions that followed the year 2019 showed the need to reorganize the work of insurance brokers, in a way that preserves the rights of citizens and ensures the smooth functioning of the sector, stressing that the proposal will be subject to a broad discussion with all competent authorities before its approval. For his part, Representative Razi Al-Hajj considered that the Economics Committee is working to modernize legislation in various economic sectors, pointing out that the current laws regulating the insurance sector are more than fifty years old, while today this sector has become one of the most prominent pillars of the Lebanese economy. He stressed that the primary goal of the proposal is to protect believers and prevent the recurrence of any crises that may lead to the loss of their rights. For his part, Representative Faisal Al-Sayegh stressed that the Economics Committee will listen to all concerned parties before approving any final version of the law, stressing that the primary goal is to protect the insured and guarantee his rights in the face of any problem that may arise between him and the insurance company or broker, in a way that enhances confidence in the insurance sector and preserves the rights of all parties. At the conclusion of the conference, Al-Bustani stressed that the Economics Committee has proven over the past years its ability to address complex reform files, citing the approval of the Competition Law and the Consumer Protection Law, considering that the proposal to regulate mediation and representation in the field of insurance comes as a continuation of the path of modernizing economic legislation, enhancing transparency and protecting the rights of citizens.