The Insurance Control Commission (ICC) is the regulatory authority in charge of the supervision and control of the insurance sector in Lebanon.
The ICC aims to promote the growth, development, and stability of the insurance sector in Lebanon, establishing a positive contribution to the general sustainable economic growth in Lebanon, by furthering financial soundness and proper governance.
The ICC is an independent institution, in charge of maintaining an efficient and stable insurance market and protecting the interests of policyholders and other stakeholders from eventual unfair market practices emanating from entities and persons that fall under its supervisory mandate, hence enhancing public confidence in the sector.
The ICC has the following prerogatives to help fulfill its missions:
- Licensing and control of persons and entities
- Administrative and financial enforcement measures
- Sanctioning and disciplinary actions
The ICC may also inform the public in general about matters of relevance in the context of performing its supervisory work.
The ICC reports directly to the Minister of Economy and Trade and has its own bylaws that govern its processes and procedures.