Page 10 - Turkinsurance Digital Magazine

8 at a glance

10th International Istanbul Insurance Conference by Insurance Practitioners Associa-

tion was held with participants from 30 countries

Held on 4 and 5 October 2018, the same manner. There are roads where traffic accidents occur
the conference was kicked off more frequently; we should solve those problems. We have initi-
with opening speeches. The ated special trainings for road hogs. These drivers cause 3 or 4
morning session of the first day accidents on an annual basis. They are almost professionals in this.
focused on panels and speeches Accidents should not be underestimated. Licenses of drunk driv-
about the problems of the insur- ers are confiscated for 6 months; this should also apply to drivers
ance market, while the after- who are frequently engaged in accidents as well. You can submit
noon session mainly discussed penalty points to us, and we can use them in our tariffs.” Eroğlu
the digitalization processes and added: “Traffic line is losing money for 13 years. This year’s loss
problems. On the second day, was averted thanks to the interest returns. Moreover, we have also
main topic was the significance worked on the impacts of the exchange rates. Due to increasing
of the Pools in the insurance rates, traffic insurance tariffs should be increased by 12 percent
market. New developments on and motor own damage tariff by 20 percent; but insurance market
this issue were discussed and participants were enlightened with has still not reflected this on prices. We are transferring resources
new information. Fahri Altıngöz, Chairman of the Insurance Prac- to foreign countries for spare parts that are worth a total of 3
titioners Association, commented on the organization of the con- billion TL. It is important to use equivalent spare parts instead of
ference: “Founded in 1958, Insurance Practitioners Association original spare parts to reduce costs; and this should be encouraged
is one of the oldest associations of the insurance market. We have by the related parties. Plus, there are still no standards for the
been organizing this international conference for 10 years now. calculation of the compensation for loss of support. It is important
We receive attendance of many foreign colleagues from 30 differ- to apply the ‘Baremo Model’ for this case. Moreover, we believe
ent countries ranging from USA to Japan, from Europe to Middle that it is necessary for the market to apply higher rates for monthly
East. Of course, our local insurers with different experiences at- increases in maximum premiums within the scope of the price-cap
tend as well. Therefore, we get a chance to discuss really impor- system, which currently stands at 1.5 percent; and to apply an
tant topics about our market on an international level; to gather additional 5 percent increase for once.”
different experiences from a global perspective, and discuss about
market opportunities, related precautions, and different products.
For sure, we can negotiate about the insurance-related issues from
a global perspective and share this insight with the public.”

Traffic line is losing for 13 years

Mehmet Akif Eroğlu, Secretary General of Insurance Associa-
tion of Turkey (TSB), gave a speech and presentation during the
opening, and said: “Due to their probability of causing accidents,
driver’s licenses of drunk drivers are confiscated for 6 months be-
fore they can actually cause any accidents. There are 79 thousand
600 drivers who have caused 4 accidents every year on average,
for the last 3 years. Their licenses should also be confiscated in