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Jun 2020

Turkey: Call for masterplan to deal with uninsured fire risk

Source: Middle East Insurance Review | Mar 2020

The solution to uninsured fire risk in Turkey is to start by drawing up a masterplan on how to mitigate the risk, Turkey Insurance Adjusters Association president Ahmet Nedim Erdem has said.
He was speaking at an international fire prevention and protection workshop, organised by Milli Re and in which representatives of the insurance sector participated. The workshop discussed fire risk, damages caused by fires and the precautions that can be taken against uninsured risks. 
Mr Erdem said an insurance system has been established for the mining sector, reported Insurance Gazette, adding that mining insurance business has been profitable because of the work of experts. “On the fire side, this needs to be created,” he said.
“An action plan should be prepared instead of throwing the issue aside, saying that the risk is not insured.”  
Mr Mehmet Akif Eroglu, secretary general of the Turkish Insurance Association, said penetration is low for fire insurance. For instance, he said, “We see that 65% of SMEs do not have insurance. They take a huge risk.” He said association members had visited the Fire Brigade to discuss what could be done about prevention.  M 
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