Practice Of Insurance In Turkey

Practice Of Insurance In Turkey

Süleyman , Uyar

The main purpose of this study is explaining the development of insurance sector in Turkey. There is no question of insurance before second period of nineteenth century in Turkey. In Ottoman period, some trade unions were founded with the aim of providing assistance and making restitution to people in various Anatolian villages. These trade unions helped members in case of death and illness. Nevertheless, social characteristics, religious environments and financial system of ottoman society prevented developments of insurance. Resultant fire and it’s great damage in second period of nineteenth century reduced negative judgment concerning insurance. First insurance firms were opened by English insurance companies in 1872. Afterwards, corporations from France, Germany, Italy and Swiss followed its. Ottoman Generally Insurance Incorporation begun to serve as a first domestic insurance company in 1893. In the present day, types of insurance in Turkey are engineering insurances, healthy insurances, accident insurances, fire insurances, mandatory earthquake insurances, life insurances, agriculture insurances and transportation insurances. There are number of 59 insurances companies and a number of Reassurance Company which engaged in as of the date of August 2011. Seven of them serve on healthy, sixteenth of them serve healthy/retirement and thirty sixteenth of them serve on except for healthy. Keywords: Insurance, Types of Insurance,

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PeerReviewed

2012-05-31

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