The recent flood disasters are an important indicator of this. Unless necessary precautions are taken regarding climate change, it is estimated that the effects of the flood will continue to increase over the years. “Flood events are considered the second most common natural disaster in the world after forest fires,” said Monopoli Insurance CEO and Founding Partner Erol Esentürk: “Flood events that are frequently seen in our country; In addition to the loss of life and property, it causes economic losses of billions of lira every year. I regret to say that the balance sheet of flood events in our country is unfortunately heavy.”
Erol Esentürk said that it is very important to guarantee risks such as fire, earthquake, storm, hail, weight of snow, theft, electronic device, loss of profit, loss of performance; “Unfortunately, the increase in natural disaster claims in recent years has also negatively affected the reinsurance market. In addition to the natural disaster damages in question, the economic environment caused by the Covid-19 pandemic, increasing costs, the energy crisis related to the Russia-Ukraine war, and the problems in the supply chain had a negative impact on the insurance industry and reinsurance markets. In the coming period, further shrinkage of capacities and increases of up to 40 percent in reinsurance prices are expected. Because, in addition to the burden created by declining financial revenues, natural disaster claims, which have been increasing in terms of both severity and frequency in recent years, have caused the return and profit margins of reinsurers to decrease significantly.
As global warming made itself felt more and more, the concept of “green economy” became popular. Stating that the risks of the new era have changed and differentiated with the climate crisis, Erol Esentürk: “The importance of the 'green economy' for a sustainable future is increasing day by day. In our country, which is also very suitable geographically, initiatives on solar energy have increased in recent years. However, solar panels, which constitute a large part of solar power plants, are very sensitive products. In variable weather conditions, it is at risk of being damaged by hail, excessive wind, or even objects thrown from the air by crows. That's why we recommend that such investments be secured by taking out insurance for any risk that may occur. It is important that the concept of 'preventive insurance' is placed at the center of the management systematic of companies. Because insurance is a matter of consciousness, a matter of awareness” he emphasized.
