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It seems that the major impacts of the development of events in Gaza and southern Lebanon on the Lebanese economy are beginning to become evident. In addition to the weakness of commercial activity, obstacles to imports are emerging due to the changes occurring at the level of insurance on ships.
In this context, the head of the Guarantee Companies Association, Asaad Mirza, pointed out that “insurance for imported goods still exists, but insurance against war risks has stopped. Reinsurers have now stopped giving war coverage,” pointing out that “all goods that were previously insured come with war risk insurance.” War will be covered, but all newly imported goods will not be covered against war.”
Mirza considered that “the cessation of insurance against war risks will affect the movement of importing goods. Importing goods in the absence of coverage for war risks scares merchants, especially in light of the current situation, but there are assurances that the stock of imported goods available today is sufficient for about three or four months.”
2023-10-20 21:04:46
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