Macedonia: Memorandum of Cooperation with the Turkish insurance market's authority signed in Skopje

On July 2, a Memorandum of Cooperation between the Macedonian Insurance Supervision Agency and the Regulatory Authority for Insurance Supervision of Turkey was signed in Skopje, by Mr.Klime POPOSKI, President of the Council of Experts (Macedonia) and Ahmet GENK, Vice President (Turkey).

The Memorandum regulates the cooperation and the exchange of information and data in the field of insurance supervision. By signing the Memorandum, both sides expressed their interest and will for a future closer cooperation and exchange of experiences.

Bearing in mind that insurance markets in our countries face similar challenges, cooperation will contribute through the exchange of experience, practice and knowledge to significantly improve the work of our institutions and to provide comprehensive protection for insurers and users of insurance products and services, a press statement of the Macedonian FSA says.

Another important topic of the cooperation will be the transfer of knowledge for establishing and supervising insurance solutions based on the principles of public-private partnership for dealing with the consequences of natural disasters, as the Turkish agricultural insurance pool (TARSIM) or earthquake insurance scheme (TCIP).

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