International Istanbul Insurance Conference: Climate change & natural disasters under scrutiny

6 October 2021 — Daniela GHETU

On 5th October 2021, the XIIIth edition of the International Istanbul Insurance Conference took place in a virtual format, under the titles "Climate change & natural disasters - A new risk approach in insurance and reinsurance world", hosting an exquisite team of speakers and a large international audience.

Climate change has already ceased being just an interesting scientific topic, already becoming a day-by-day reality. The increased frequency and severity of the extreme weather events are challenging not only for citizens, but also for the risk undertakers. The first part of the conference, chaired by Ms. Menekse Ucaroglu, CEO, IUC Group, presented rich information on adapting underwriting techniques and criteria to the new realities, by upgrading models and using the latest technologies. 

The second part of the event, chaired by Ms. Daniela Ghetu, Editorial Director, XPRIMM, was focused on risk management and claims settlement in the climate change context. Two of the most relevant insurance pools in the region have provided their view and latest measures on improving claims management, to the benefit of their customers: Serpil Gunal, General Manager spoke for TARSIM - the Agricultural Insurance Pool Management Company, while Natalia Man, Deputy General Manager has presented the latest news on the mass claims plan designed by PAID - the Romanian Natural Disaster Insurance Pool.

At the beginning of the conference, an informative session hosted the speeches given by Atilla Benli, Chairman of the Association of the Insurance, Reinsurance and Pension Companies of Turkey and Mahir Cipil, Deputy Chairman of the Insurance and Private Pension Regulation and Supervision Agency of Turkey. In the event opening, Fahri Altingoz, President of the Insurance Practitioners Association of Turkey underlined the importance of recalibrating re/insurers' approach towards natural hazards and their possible involvement in mitigating the climate change effects considering the increasing impact of the phenomenon.

The Conference brought together the supervisory authorities, insurers, reinsurers, brokers, NGOs and press. Organized by the Insurance Practitioners Association of Turkey, the event was supported by the Insurance Association of Turkey and sponsored by the Istanbul Underwriting Center and Turkish Insurance Magazine.


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