Insurance

The Turkish parliament has adopted a government-led omnibus bill which includes various legal arrangements concerning issues such as rebuilding the conflict-hit Sur district in the southeastern province of Diyarbak?r, the assertive "Kanal Istanbul" project, which foresees the building of a giant canal on Istanbul's European side to ease the aquatic traffic of the city's busy Bosphorus Strait, t

Around $82.5 billion of Istanbul's projected annual GDP of roughly $500 billion is at risk from 18 threats, mainly earthquakes, according to a leading insurance specialist. 

The Insurance Organization for the Self-Employed (OAEE) is undergoing a huge overhaul that includes a 2-year increase to the retirement age for those insured for 35 years and an additional seven years for mothers of minors (taxi drivers, women at sea, etc) as well as for parents of children with disabilities.

Bulgaria's Bulstrad, part of Vienna Insurance Group (VIG), has completed the acquisition of the country's bancassurer UBB-AIG, VIG said on Tuesday.

Simultaneously with the acquisition, a cooperation agreement with United Bulgarian Bank (UBB) has been signed, VIG said in a statement.

The European Commission proposed on Tuesday a euro-area wide insurance scheme for bank deposits.

The EU executive body also set out further measures to reduce remaining risks in the banking sector in parallel.

The Ministry of Labor drafts a new plan on social security contributions which will apply to all insured.

It provides a single social contribution of 20% for the main pension and an increase in individual contributions of other sectors which were previously decreased.

“If we do not take any measures, we will face Armageddon”, Deputy Minister of Social Security Anastasios Petropoulos warned speaking to MEGA TV channel. But, “we are not going to cut, just like that, the pensions of people,” he clarified.

The minimum hourly wage will remain unchanged and it will total RSD 121 (EUR 1) in the year to come, the Serbian government decided on Monday.

The sum does not include taxes and contributions for mandatory social insurance, the Serbian Ministry of Labour, Employment, Veteran Care and Social Affairs released.

Insurance experts have complained about their inability to visit Turkey's eastern region for damage assessment amid escalating violence. 

Sector representatives said they are concerned for their safety and ask for help from security forces to do their jobs in the region. 

A new social security plan published by Greece’s newspaper To Vima refers to a scheme that aims to merge insurance funds. This new plan has been submitted to the Employment Ministry and applies to all people insured from 1992 onwards.