Tarim Sigortalari Havuz Isletmesi A.S. (Turkiye)

Tarim Sigortalari Havuz Isletmesi Anonim Sirketi is a company located in Istanbul, Turkey. It was established on June 14, 2005, following the enactment of the "Agricultural Insurance Law" (5363). The company operates as a central hub for agricultural insurance in Turkey, aiming to protect the agricultural sector from various risks. It facilitates the standardization of insurance contracts, creates an environment for optimal risk transfer, and ensures centralized compensation for damages. Tarim Sigortalari Havuz Isletmesi A.S., in which participating insurance companies have equal shares, manages all operations related to the insurance pool. Under this system, insurance companies issue agricultural insurance policies on behalf of the pool and transfer the entire premium and risk to the pool. The government provides support for insurance premiums on behalf of farmers exclusively under this law. The amount of government support is determined annually by the President, considering factors such as product, risk, region, and farm scale. The implementation of the insurance pool allows for the inclusion of catastrophic risks, such as drought and frost, which individual insurance companies may not be able to cover alone. It also encourages reinsurance participation to expand reinsurance capacity and coverage. The pooling system enables more efficient utilization of insurance companies' information, personnel, and financial resources. Additionally, it ensures effective utilization of government support for premiums and excess losses, prevents unfair competition in prices, and aims to increase participation in insurance.