Insurance customers rely on impartial authority to ensure that their insurance policy will be honored when they have to file a claim. For insurance companies, the supervision by a trusted public entity provides a shield of corporate credibility and a safeguard of companies’ financial solidity. Supervision, however, needs to be tailored expertly to meet both ethics and reality and even then dialog on regulations and requirements between insurance industry and insurance supervisor is often tough and thorny. To better understand the local state of insurance, Executive sat down with Walid Genadry, head of the Insurance Control Commission at the Lebanese Ministry of Trade and Economy. E When you outlined the concept behind proposed legislation for Lebanese insurance in 2004 you were not only convinced of the urgency of this matter but also enthusiastic about the law’s spirit and optimistic about a rapid adoption of what is still a draft
