Turkish Insurance Law has entered into force

Turkish Insurance Law, which was approved on June 3, 2007 at the General Assembly of the Turkish Parliament, was published in the Turkish Official Gazette (No: 26552) on June 14, 2007, after being approved by President Ahmet Necdet Sezer.

The new law is being translated into English to be distributed to interested parties. 
 

General Principles were published on Sea Coast Facilities Marine Pollution General Liability Insurance

General Principles were published on Sea Coast Facilities Marine Pollution General Liability Insurance, to be entered into force on July 1, 2007.
 

The Association had a meeting with the authorities of the World Bank and Albanian Financial Supervisory Authority

On June 15, 2007, the Association had a meeting with Ms. Serap Oğuz Gönülalp, World Bank Financial Sector Operations and Policy Department Consultant; Mr. Lalit Raina, World Bank Finance and Private Sector Development Unit, Europe and Central Asia Region Sector Manager and Ms. Elisabeta Gjoni, Albanian Financial Supervisory Authority Manager. In the establishment process of the Albanian Insurance Association, the Albanian authorities were given a thorough presentation about the structure, mission, vision and studies of the Association of the Insurance and Reinsurance Companies of Turkey. The authorities of the Motor Insurance Bureau also participated to the last session of the meeting and gave detailed information about the duties and studies of the Bureau.
 

The Association gave a presentation on “Earthquake Risk in Turkey and Compulsory Earthquake Insurance” during the 2007 Plenary Meeting of the CEA Property Insurance Committee

The Plenary Meeting of the CEA Property Insurance Committee, which the Association is a member of, was held on June 7-8, 2007, in Italy. Roland Nussbaum, talking on behalf of the Natural Disasters Working Group, reminded the participants that the most dangerous natural disasters in Europe are flooding, storms and earthquakes and that the aim of CEA is to help countries which come across with these risks.

During the meeting, it has also been acknowledged that climate change has become a major problem and it has been decided that the team should conduct some work regarding this issue.

The Deputy Secretary of the Association of the Insurance and Reinsurance Companies of Turkey, Mr. Erdinç Yurtseven represented the Association at the meeting and gave a detailed presentation on “Earthquake Risk in Turkey and Compulsory Earthquake Insurance”. The compulsory earthquake insurance implemented in Turkey has drawn considerable attention from the representatives attending the meeting. Many questions were received and adequately answered.
 

The Association attended the CEA 2007 General Assembly

The Association attended the CEA 2007 General Assembly organized in Stockholm, capital of Sweden, between June 14-16, 2007.

On the first day of the General Assembly, June 14, 2007, the Presidential Council convened in the morning. It was followed by four workshops concentrating on four different subjects during the afternoon: Communicating Solvency II: Identifying Key Messages Ahead of the Publication of the Proposed Directive, Demographic Challenge: Implications for Pensions and Health Business, Social Security: Scope for Future Public-Private Partnerships and Fraud and Data Protection: Pooling Information vs. Data Protection. Comprehensive presentations have been given on each subject.

During the meeting held on June 15, 2007, the morning session was allocated to the CEA 2007 General Assembly. During the meeting, CEA’s budget for the year 2008 was approved and the objectives established for year 2008 were discussed. The morning session ended with the presentation of Mr. Peter Skinner, Member of the European Parliament, on Solvency II.

The afternoon session was reserved to the conference focusing on “New and Emerging Risks for the European Insurance Industry”.