News in Detail

The second Deputy Secretary General of the Association is appointed

On 11 October 2010, Mr. Murat Disci took office as the second Deputy Secretary General of the Association.

The Association held a conference on “Coastal Facilities Sea Pollution Liability Insurance”

On 19 October 2010, the Association held a conference on “Coastal Facilities Sea Pollution Liability Insurance” at the Milli Reasurans TAS Conference Hall.Following the opening speech by Mr. Erhan Tuncay, Secretary General of the Association, in the first part of the conference, speakers from abroad discussed about the implementation and legislative framework of coastal facilities sea pollution liability insurance in the EU.

In the first session, Ms. Carmen Bell, CEA Policy Advisor made a presentation on the key aspects of European Environment Directive. Following the first presentation, Mr. Simon Johnson from Aon Global Environmental Services Group discussed about implementation of environmental insurance in the EU and the differences between EIL and compulsory insurance. During the first session, Mr. Marcel Steward, Managing Director of Swinglehurst Ltd. mentioned about characteristics of the environmental insurance market. During his presentation he also discussed about some aspects of current Turkish legislation. Finally, Mr. Wayne Harrington, ACE Environmental Risk Manager focused on the coverages for environmental insurance and  coastal risks.

In the second part of the conference, a discussion panel was held. During the panel, the officials from Ministry of Environment and Forestry and Directorate General of Insurance exchanged views on the implementation of the liability insurance in Turkey. In the final part of the conference, the questions of the participants were responded.



The Association hosted a training program on “Prevention of Money Laundering and Financing of Terrorism”
 

On 6 October 2010, the Association hosted a training program on “Prevention of Money Laundering and Financing of Terrorism” held by the Financial Crimes Investigation Board (MASAK). The program aimed at providing compliance officers from insurance companies with the necessary knowledge and tools to be able to organize their own training programs on the prevention of money laundering and financing of terrorism.

During the program, officials from MASAK made presentations on the definition of financing of terrorism and money laundering, identity detection, reporting of suspicious transactions and compliance programs to be formed.

The Association held a meeting with the officials of UN Environment Programme

On 7 October 2010, the Association held a meeting with the officials of UN Environment Programme at the headquarter of the Association. At the meeting, the Association was represented by Ms. Berna Ozsar Kumcu, Responsible for International Relations, Ms. Muge Soysal, Assistant IR Specialist and Mr. Onur Acar, Responsible for Fiscal and Financial Affairs.

During the meeting the UN officials introduced the “sustainable insurance project”. Following the introduction, officials of the Association made a presentation on the Turkish insurance market. At the meeting, the Association also informed the UN officials about sectoral activities relevant to the scope of the sustainable insurance project.

The Association participated to the IAIS Annual Conference

On 27–29 October 2010, the Association participated to 17th Annual Conference of the International Association of Insurance Supervisors (IAIS) in Dubai. During the conference, the Association was represented by Mr. Mehmet Kalkavan, Deputy Secretary General of the Association. At the conference, speakers from different countries discussed about financial stability, systemic risks and impacts of international accounting standards on insurance regulation, financial crisis and supervision of insurance groups. Following the conference, as an observer member, the Association also attended the annual meeting and dialogue group meeting convened to discuss IAIS issues and priorities.

The theater play on insurance continues its tour across Turkey

The theater play on insurance for children sponsored by the Association continues its tour across Turkey. The play which aims at creating awareness on insurance has reached children from various age groups and their parents in western and northern cities of Turkey. The play was put on stage during October in Istanbul and will continue its tour across Turkey until the beginning of February 2011.

Quantitative Impact Study 5 (QIS) Project is underway

In the framework of the Specialized Solvency II Committee activities, the insurance companies were decided to conduct QIS 5 to enable the analysis of current situation during Turkey’s compliance with Solvency II. The QIS 5 is planned to begin by November 2010. During the conduct of QIS 5, 9 working groups will be established which will be headed by 9 companies that have already completed the QIS 4. Each working group will be composed of 4 participant companies. QIS 5 aims at increasing the technical knowledge of companies about Solvency II.