Turkey’s leading public institution executives and prominent names from the business world came together at the third Turkey 2023 Summit.

‘National Energy’ panel was launched with a speech by Energy and Natural Resources Minister Fatih Dönmez. The panel was also attended by Atilla Benli, President of the Insurance Association of Turkey, who shared information on their activities in energy insurance.

Benli stated that they established an energy insurance unit within the body of the Association and that it consists of experts in the field of energy insurance. Today the share of renewable energy resources such as hydroelectric power stations, solar energy power stations, geothermal energy power stations, and wind power stations has reached nearly 50 percent in all of our installed power plants. Use of imported resources in power generation has decreased considerably, bringing the use of domestic resources up to 60 percent. Our national independence in power generation can be achieved through renewable energy, in addition to investments in traditional energy sources that will reduce our dependency on other countries. As the Insurance Association of Turkey, we will continue to play a market-maker role by providing coverage for investments in both renewable and traditional energy sources. As Türkiye Sigorta, we feel the justified pride of insuring Oruç Reis Ship, which conducts seismic research activities the Mediterranean Sea to ensure our national independence in economy and energy. We are proud of the energy investments of our country. We will keep playing our part to ensure national independence in energy,” he said.

“Our agile structure enables us to establish strong bonds with the entire energy ecosystem”
Benli underlined that their energy insurance department was designed with a structure and approach to closely monitor and understand the dynamics of the energy market, offer coverage for changing risk conditions and unique requirements, and have the consultancy capacity and expertise that will embrace the projects end-to-end. According to Benli, this department enables the Association to establish strong bonds with the entire energy ecosystem. “For instance, we have observed that our customers in the solar energy field incur losses due to the ‘failure of solar panels to catch the efficiency levels committed by the producers’. As a result, we started negotiating with our reinsurers. Thanks to our work during 2020 and our reinsurance structure designed specifically for Solar Energy Power Stations, we have solved this problem with the “Special Clause on Loss of Performance” for Solar Energy Power Stations. And our clients are very happy with it,” he said.

 “We offer original and comprehensive services”

Stating that they offer comprehensive services for changing requirements in the market, Benli said that they offered insurance against natural disasters for renewable energy power stations through their broad-scope machinery breakdown insurance called CMI.

Benli added that they were also proud and happy to be one of the insurers for the construction/installation of the Solar Energy Power Station which began to be built in Ankara in February 2020.