Stating that TARSİM’s premium production increased by 42 percent from 14 June 2015 to 14 June 2016; Yusuf Satoğlu, General Manager of TARSİM, said that number of policies also increased considerably.
Satoğlu underlined that the increase of premiums in insured areas reached 8 percent, and said as follows: “We have reached 1 million 300 thousand policies during the first six months of this year. Currently, there are approximately 2.7 million agricultural producers registered in Farmer Registration System (ÇKS). Producers need to be registered in the system to benefit from the incentives of TARSİM regarding premium subsidy system. At the end of last year, insurance rate stood at 14 percent, which is expected to reach 17-18 percent this year. This is not a bad rate; in fact it is rather good. It stands at around 40 percent in Spain, which has 40 years of history in agricultural insurance. We have managed to reach this level in 10 years.”
“Frost and hail losses are more dominant”
Satoğlu stated that hail and frost losses dominated last year, and informed that hail losses became more prominent this year. He added that number of claims was higher this year and said: “We received 201 thousand claims in 2015, which increased to 260 thousand this year. On the other hand, amount of losses declined. Losses incurred due to frost are generally more severe; while hail losses remain more partial. We accumulated 965 million TL premiums in 2015, and paid 750 million as compensation for losses. We estimate that our premium production will reach 1.3 billion TL this year. Naturally, farmers do not pay the whole amount of these premiums. The government compensates for a certain amount of premiums depending on the loss. It is harder to estimate the amount of losses. Until June 14, we produced 1 billion 96 million TL in premiums. Policyholders paid 503 million TL, while the government provided 593 million TL. We have received the highest amount of losses both in volume and number due to frost and hail events that impacted nut production in Giresun and grape production in Manisa.”
“We introduce TARSİM to the world”
Satoğlu finalized his statement as follows: “In the last five months, we have visited India, Morocco, and Uruguay and introduced our system. The meeting in Uruguay was attended by 17 Latin American countries, and all of them paid close attention to the achievement of Turkish model. We will also begin to provide a more professional consultation with Georgia. Next week we will also present our model in Azerbaij
