Opening of Türk P&I Sigorta
Opening of Türk P&I Sigorta was celebrated with the reception that took place in Naval Museum.
We are pleased to announce that the opening reception of Türk P&I Sigorta, who added a new dimension to Turkish marine insurance sector took place in Besiktas Naval Museum on 26 May 2014 with the participation of the leading people of the maritime sector.
The opening reception was held under auspices of the Mr. Binali Yıldırım who made the best of putting the company’s name and is the former Transport, Maritime Affairs and Communications Minister. State protocol and bureaucrats, on behalf of the Ministry of Transport, Maritime Affairs and Communications, board and counsel members of IMEAK Chamber of Shipping and the representatives of the respected maritime sector related companies as well as the non-governmental organizations participated to the reception.
Binali Yıldırım: “Türk P&I serves a very important purpose for maritime sector”
The former Transport, Maritime Affairs and Communications Minister, Mr. Binali Yıldırım said that establishment of Türk P&I is a very important step for Turkish Maritime Sector and he expressed his appreciation for witnessing the realization of the expectations after waiting for a long time. He laid stress on that the developed model of public-private sector was found very successful.
“Especially coasters and international shipowners were in despair regarding marine insurance. Hands had had to be turned to this subject. Thus, Ziraat Insurance, Halk Insurance and Gunes Insurance, which are the leading insurance companies of Turkiye and the Undersecretariat of Treasury Directorate General of Insurance, were incorporated in the formation of Türk P&I. Consequently, 50 % private and 50 % public model was generated. We formed equal private-public partnership and delegated a representative from Transport, Maritime Affairs and Communications Ministry on the board of the company for acting as a mediator in this consortium. Türk P&I started it’s activity on 18 February 2014 and it is very meaningful to make this celebration in Naval Museum.”
Binali Yıldırım expressed that P&I insurance carries a very important mission for Turkish marine sector and highlighted that it would now be possible for Turkish shipowners to navigate emphatically.
Henceforth there is Türk P&I that they should trust as from now on and also they would not pay high legal expenses to foreign law firms. As the contracts are signed in Turkiye, the terms & conditions of the policies are subject to the Turkish Law. Besides, since the insurance company is now local and native and easy to reach, this will provide the matters to run easily and shortly. Thank everyone involved in establishment of Türk P&I very much and I wish a success to the companies who supplied opportunities and efforts on this.
Gap in cabotage shipment was filled.
The chairman of the board, Mr. Aret Tascıyan thanked Mr. Binali Yıldırım for his vision and leadership throughout the establishment process of Türk P&I. After two-years study, we have commenced our business on 18 February 2014 upon receipt of the license from Undersecretariat of Treasury. He laid stress that Türk P&I has been designed to provide insurance solutions to the vessels engaged in cabotage trade as first step.
Regrettably, our seafarer’s had had to apply to the foreign insurance companies in order to get P&I insurance with appropriate limits in accordance with the international conventions. However this was creating problems as the international insurance companies are subject to the foreign law. This problems have been disappeared after Türk P&I as any dispute would be subject to the Turkish Law.
Mr. Aret Tascıyan stated that Türk P&I Sigorta’s priority goal is to make it’s name in Mediterranean Sea, Black Sea and Aegean Sea and secondary to provide P&I insurance for vessels trading in worldwide. He further added that Turkish Merchant Fleet made significant development in the recent years.
“40 years ago, when I started my carrier in marine insurance sector, the Turkish Fleet was mostly consist of the coasters and the DWT capacity of our fleet was around 5/ million DWT. But it grew up to 30 million DWT. If we were satisfied with our position of 40 years ago, we would not reach our present position. This is because, we should not be satisfied with our current condition and continue to do our best. We are providing a liability up to USD 500 million and already commenced to work to increase this figure to USD 1 million. I would like to express my endless thanks to everybody who supported this project.
Ufuk Teker : “Sector members made a great contribution during establishment of Türk P&I Sigorta”
The general manager of Türk P&I Sigorta said that the company commenced its business activity on 18thFebruary for providing liability insurance to the vessels engaged in cabotage trade then he gave information about establishment of the company. Then he continued his speech as follows;
“I would like to take this opportunity to express my sincere thanks to Mr. Binali Yıldırım and staff members of Ministry of Transport, Maritime Affairs and Communications and General Directorate of Merchant Marine, in particular to Mr. Barıs Tozar who constructed foundation of our company, to Mr. Mustafa Azman and their esteemed staff members. All of them have been supporting us since the beginning of the planning stage and they are still here for all of us. Also I truly appreciate delicate collaboration and support of Undersecretariat of Treasury and General Directorate of Insurance.
Last but not least, a vote of thanks goes to our partners and board of members for their intensive collaboration and great support as well as a special vote of thanks to our esteemed assureds’ who decided to walk together in this first and long-running business relation.
Plaquet were presented to the first insured companies.
At the opening ceremony, plaquet were bestowed to the following public and private companies;
- The first plaque was given to Mr. Oguz Omur, in the name of M/V “EMRE OMUR” due to being the first policy of Türk P&I Sigorta
- A plaquet was given to general manager of IDO İstanbul Deniz Otobüsleri San. ve Ticaret AS, Mr. Ufuk Tugcu, due to being the major insured fleet
- A plaquet was given to Mr. Suleyman Genc in the name of the Messrs. “İstanbul Şehir Hatları İşletmesi” due to being the first insured passenger vessel.
- Mr. Hakan Sen received a plaquet in the name of the Messrs. “Med Marine Kılavuz ve Römorkaj Hizmetleri” for being the major insured tug boat fleet
- Mr. Engin Sayan received a plaquet in the name of the Messrs. “Kıyı Emniyeti ve Gemi Kurtarma Genel Müdürlüğü “ who is the first insured salvage fleet,
- Mr. Senol Morgul received a plaquet in the name of the Messrs. “’Avrasya Deniz Taşımacılığı” for being the first insured passenger ferry
- Mr. Bulent Safak received a plaquet in the name of the Messrs. ’İstanbul Lines’ for being the first insured RO-RO owner
- A plaquet was given to Mr. Altay Altuğ, in the name of the Messrs. Uzmar Gemi İnşa Sanayi, which is the youngest tugboat fleet of TPI
- A plaquet was given to Mr. Orhan Ozcelik, in the name of the Messrs. Icdas Çelik Enerji Tersane ve Ulaşım Şirketi’, which is the first insured dry cargo vessel of TPI
- A plaquet was given to Mr. Huseyin Karaytug, in the name of the Messrs. GESTAŞ Deniz Ulaşım Turizm, which is the first insured ferryboat of TPI
- A plaquet was given to Mr. Serkan Yıldırım, in the name of the Messrs. “Tübitak Marmara Araştırma Merkezi”, which is the first insured research vessel of TPI
- A plaquet was given to Mr. John Reily, in the name of one of the reinsurers of TPI “Standard Club Europe Limited”, due to their continued support.
- A plaquet was given to Mr. Simon Swallow, in the name of one of the reinsurers of TPI “Shipowners P&I Club”, due to their continued support.
- A plaquet was given to Mr. John Garthwaite, in the name of the “Price Forbes & Partners Limited”, due to their reinsurance support.
Editor Note: Türk P&I Sigorta A.Ş. was established on 18 February 2014 for providing P&I insurance to vessels which do not have an adequate insurance cover. Public insurance companies, namely, Guneş, Halk and Ziraat Insurance and 3 local P&I correspondents consociated to establish Türk P&I Sigorta. The company’s liability limit is max. 500 million USD per incident.