Page 17 - Turkinsurance Digital Magazine

17

sured, risks that cannot be covered by in-
surance or reinsurance in the domestic or
international markets or for which there is
difficulty in providing coverage, risks such
as nuclear risks, establishing or coordinat-
ing the establishment of insurance or rein-
surance pools, insurance and reinsurance
companies Ensuring cooperation between
them, carrying out the pool, organization
or cooperation mechanisms to be created.

Both providing insurance and reinsurance
coverage and having a legal personality in
the management of the pools to be estab-
lished are primarily important in terms of
institutionalization. As the Special Risks
Management Center has a legal personality
instead of being operated by an insurance
or reinsurance company for a certain peri-
od of time:

- It will eliminate the situations that may providing coverage in areas of public inter- exporting, and trading sectors against fi-
cause legal hesitation in possible disputes, est but where it is difficult to find collateral. nancial risks as well as physical risks; it
- It will contribute to the formation of cor- provides risk management consultancy
porate memory with permanent staff em- With the operation of the nuclear thermal services by contributing to the making and
ployment, power plant under construction in our coun- maintenance of production and trade.
- It will contribute to its sustainable corpo- try, in line with the Paris Protocol, to which
rate structure with long-term investments, Turkey is a party, the operator is required Market conditions during the pandemic
- It will facilitate recognition and mutual to provide a guarantee with a limit of 700 period further highlight the importance of
agreement in international markets, million € against the damages that may be insurance protection for businesses against
- It will enable to make legal and tax regu- incurred by third parties. the financial risks they are exposed to.
lations specific to the fields in which it op-
erates. Since it is not possible to provide liability One of the most important risks in today's
for nuclear risks from the domestic and in- economic conditions is that the collection
In which areas will the Special Risks ternational insurance and reinsurance mar- of goods and services sold cannot be made
Management Center contribute to the ket, it is expected that the establishment of on time. Almost every firm has faced a
sector? an insurance pool against nuclear risks will problem of unpaid receivables at maturity,
be on the agenda and the management of the problem of cash flow has caused it to
Special Risks Management Center cur- the said pool will be carried out by the Spe- focus on the problem of collection rather
rently operates in the fields of Compulsory cial Risk Management Center. than improving its business.
Financial Liability Insurance for Medical
Malpractice, Mining Employees Compulso- As the Union, in the light of all these Firms that secure this risk can evaluate
ry Personal Accident Insurance, and State new developments; what kind of growth new business opportunities away from col-
Supported Commercial Receivables Insur- and development do you expect in both lection concerns, achieve steady growth
ance. the insurance and private pension sec- with new markets and products, provide
tors for the end of 2021? Can you share faster and cheaper access to finance, in
While the content of the guarantees offered your predictions with us? these circumstances, with the effect of
in the areas of activity differs from each the increasing need for trade receivables
other, the fact that the insurance industry The insurance sector is one of the critical insurance, premium production for trade
has difficulties in providing guarantees is a sectors that provides the necessary assur- receivables insurance in 2020 increased by
common feature of the areas in which the ance for the operation of production, trade, more than 30% and reached 400 million
Special Risks Management Center oper- in short, the economic life, and the funds TL.
ates. needed for new ventures. It provides long-
term and low-cost resource creation for It is expected that this trend will contin-
For this reason, the Special Risks Manage- new investments. ue in 2021 and that financial insurers will
ment Center contributes to the insurance by realize growth above the insurance sector
Insurance protects the manufacturing, average.