Thousands of Lebanese caught in insurance trap after Beirut port blast damage

Thousands of Lebanese caught in insurance trap after Beirut port blast damage

Pressures have increased on insurance companies in Lebanon with the start of the rainy season and the heavy damage it caused to homes already ruined by the Beirut port explosion in August.

The owners of damaged homes and stores are still waiting for insurance companies to pay compensation and insurance companies, in turn, are awaiting the release of the official report on the cause of the explosion before they can pay out.

Director Bassem Al Qaissi says Beirut port will retain strategic geographic position despite impact of August 4 explosion

The explosion that ripped through Beirut three months ago, caused by 2,750 tons of ammonium nitrate stored improperly for years at the port, was large enough to damage buildings several kilometres away and resulted in the deaths of at least 220 people, in