Thousands Still Wait for Compensation Amid Delay of Beirut Port Blast Investigations

Thousands Still Wait for Compensation Amid Delay of Beirut Port Blast Investigations

Five months on from the devastating Beirut port explosion that killed over 200 people, and injured thousands more, many claimants inquire about the fate of compensations they expect to receive from insurance companies pending the release of an official report on the cause and nature of the blast.

“Around 95 percent of insurance contracts stipulate that insurance companies do not offer compensation to clients for damages caused by terrorist acts or wars,” the head of the Association of Insurance Companies in Lebanon (ACAL), Elie Tarabay, told Asharq Al-Awsat.

Therefore, he said, most clients would not be reimbursed if investigations prove that the Beirut port blast is the result of a terrorist act.

Tarabay explained that insurance companies are not shirking their responsibilities.

“During the past two months, those companies paid the largest portion of the damages for cars, health, and life,” he said.

Tarabay noted that the uncompensated part is related to damages inflicted on buildings, particularly those estimated at a cost exceeding $25,000.

“We expect money from global reinsurance companies, which are waiting for the result of investigations to identify the groups that should be compensated,”