Insurance industry

'Pool system' to be created for mandatory traffic insurance in Turkey

Some companies have been avoiding issuing policies for high risk groups of vehicles after a ceiling price was imposed on compulsory traffic insurance, Deputy Prime Minister Mehmet Şimşek has stated, adding that a "Risky Insurance Pool" will be created to distribute premiums and damages to all companies for a resolution of the problem.

Stamp duty waived for uninsured vehicles, but only till mid-July

The government announced on Wednesday that owners of uninsured vehicles won't have to pay the 250-euro stamp duty provided they sign a policy by July 14, giving them a second chance to comply with the regulations.

It has also decided it will reduce the fines of those who still haven't insured their vehicles by July 15.

Greek insurance sector backtracks in February

February saw a reversal of the growth trend in insurance activity, as data from the Hellenic Association of Insurance Companies (EAEE) posted a 5.6 decline on an annual basis.

This has more than offset the rise observed in January for a 1.9 percent total year-on-year decline in activity in 2017's first couple of months.