According to him, a number of categories of citizens of the country, such as, children, pensioners, disabled people and low-income families will be exempt from payment of insurance premiums
. Their expenses on compulsory health insurance will be paidby state.
growth continues to be driven by the higher growth of 13.6 per cent in the long-term insurance business segment compared to a growth of only 2.5 per cent in the general insurance business segment,' the report stated.
The move will see basic health insurance premiums
being capped at 10 percent of a household's income.
generated in Lebanon totaled $1.56 billion in 2016, constituting an increase of 2.9 percent from $1.52 billion in 2015," as reported by Lebanon This Week, the economic research publication of the Byblos Bank Group.
The second factor behind the hike in insurance premiums
is linked directly to car prices.
The summer Budget revealed that insurance premium
tax will be increased from six per cent to 9.5 per cent from November.
If any spectators are convicted of a DUI after leaving the parade, they can expect a 52.5% increase in their car insurance premiums
along with other penalties.
2013 Sil Insurance increased its portfolio by almost 70% to 2.5 bln AMD and took the lead in the growth rates of insurance premiums
The typical quote for annual comprehensive car insurance cover was PS533 in January, which was also a record 4.6% slide on the previous quarter, according to the latest AA Insurance premium
index, which takes the average of the five cheapest quotes on the market.
British supermarket financial organisation Sainsbury's Bank on Monday revealed research that shows that life insurance premiums
are cheaper by 24.5% for non-smokers than smokers.
These provisions were designed to put an end to the days when insurance companies could raise health insurance premiums
by double-digit percentages with little oversight.
But insurance premiums
have changed in the aftermath of the disastrous Jeddah floods when some insurance companies expressed reservations over the geographical location of properties, he said.