Insurance News for Workplaces in Risky Sectors such as Chemistry. Workplaces in risky sectors such as chemistry, furniture and plastics, which complain about not being able to get INSURANCE, will be insured by the Treasury's Unusual Risks Management Center. The Center will be able to provide guarantees up to 20 million Euros.
The crisis that companies operating in RISKY sectors could not find insurance coverage was over. The Undersecretariat of Treasury established the Unusual Risks Management Center and gave the management of the Center to GRC Howden Reinsurance Brokerage for a period of 5 years. Thus, companies in risky sectors that have difficulties in obtaining insurance will be able to insure their facilities.
For a while, chemical, timber, furniture, plastic industries, especially cotton gin factories; He accused insurance companies of not providing insurance and not renewing existing policies. Insurers, on the other hand, stated that some businesses did not take any precautions, that they were damaged frequently, and that most of the facilities were insured, but they did not provide coverage to those who did not take any precautions despite all kinds of warnings. Last year, plastics industrialists complained about their insurance companies to the Competition Authority on the grounds that 'they do not come to an agreement with each other and make insurance'; As a result of the investigation initiated, it was decided that there was no anticompetitive situation.
The Treasury provided a radical solution to the problem by allowing the establishment of the Unusual Risks Management Center. Thus, a separate insurance pool was created to provide coverage for risky businesses. The Treasury handed over the management of the newly established Unusual Risks Management Center to GRC Howden Reinsurance Brokerage for a period of 5 years. The reinsurance guarantee of the pool was provided by Swiss Reasürans based in Switzerland and Hannover Reasürans based in Germany.
With the establishment of the Unusual Risks Management Center, workplaces that cannot find coverage from insurance companies will be able to take out insurance against all risks, especially fire. The Center will be able to provide insurance coverage of up to 20 million Euros to a single workplace. In case of damage, the Extraordinary Risks Management Center will make the payment again. Swiss Reasürans and Hannover Reasürans will cover the damage.
How will insurance be made?
COMPANIES will first apply to an insurance company. If the insurance company considers the workplace risky and decides that it cannot insure alone; It will direct you to the Unusual Risks Management Center. The Center's experts will initiate an investigation to identify possible risks in the workplace. If there is a defect in the workplace, first of all, a 6-month insurance will be made and the deficiencies will be corrected within this period. The policy will be renewed after the workplace takes precautions.
source : hurriyet