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News Middle East13 Jan 2022

Turkey:Business association highlights risk management and insurance in changing times

| 13 Jan 2022

The changing economic outlook in the wake of the COVID-19 pandemic necessitates attention to different issues in terms of insurance solutions, points out the Turkish Industry and Business Association (TUSIAD). The issues include inflation, shipping and supply chain disruption.

A report, titled “Risks Encountered by Institutions in the Current Business Environment and Solution Suggestions from an Insurance Perspective”, prepared by TUSIAD's Insurance and Private Pension Working Group, draws attention to common and rising risks, primarily operational, physical and macroeconomic, that institutions face today. The document provides a guide for the effective management and prevention of risk from an insurance perspective, Insurance Gazette reported.

Among other matters, the working group stresses in ts report that frequent review of insurance costs is very important for businesses because of the underinsurance risk in periods of inflation.

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