Turkey: Reinsurance pool proposed for 'risky' businesses
Source: Middle East Insurance Review | Nov 2018
A reinsurance pool will be established, easing access to insurance for some businesses which had been labelled as ‘risky’.
The pool is proposed as part of the New Economic Plan (YEP) presented by Treasury and Finance Minister Berat Albayrak in September, reported Hurriyet Daily News.
Mr Albayrak signalled the establishment of a reinsurance model in August and said it would be a pool.
Companies in certain sectors, such as ginnery operators in the textile industry or dye and chemical plants, have been voicing their discontent about their difficulty in securing insurance stating that insurers are labelling them as ‘risky’. They said that insurers will either not insure them at all or charge them high premiums.
The reinsurance pool will be managed by the Natural Disasters Insurance Authority (DASK). M