General information - Eureko Sigorta

108 EUREKO S‹GORTA
Risk engineers, appointed according to the nature and volume of businesses approved by the General Manager,
conduct risk inspection work and provide data to underwriters who will assess such risks.
Insurance premiums are adjusted upon the risk pricing made by technical divisions and include risk premiums, taxescommissions
and other expenses of the company, based on certain assumptions.
Our company sells policies within the scope of the above risks assessments, and on the other hand, it transfers such
assumed risks to reinsurers in accordance with the annual reinsurance treaties.
Technical departments have facultative reinsurance placement facilities for work, exceeding treaty capacities, on
various levels depending on the relevant lines of business.
Fire;
Our target risks are commercial, industrial and civil risks that comply with our treaty conditions, underwriting
principles and general portfolio structures. Crucial points of our technical profitability target that we sustain in this
line of business is detailed analysis made on the basis of insurable risks and industries individually and also a policy
implemented in respect of rates and deductibles by observing the existing insurance tariff rates meticulously. Both
our sales teams and risk engineers conduct on-site risk assessments by considering the scope of activities of insurance
enterprises and also construction types of the buildings where such enterprises take place, risk addresses and fire
and security precautions, and risks can be underwritten only for sites determined to be insurable upon such assessments.
Marine;
First of all, the department decides upon compliance with required conditions and risks with regards to our current
treaty limits and conditions. In case of compliance, risks are assessed according to the following criteria.
Cargo;
The relevant department takes into consideration type of cargoes, packages and carriage, navigation zones, types
of transportation vehicles, loss history, other potential or existing businesses, and also classes and ages of vessels
for carriages made by sea.
Freight Forwarder's Liability;
The relevant department takes into consideration types of cargoes and carriages, navigation zones, annual maximum
capacities, maximum coverage per shipment, annual estimated number of carriages, customer character (morality),
portfolio size, and loss ratios of customers.
CMR;
CMR policies are not arranged on a single-policy basis. Our strategy for 2009 is to eliminate business that have
negative loss ratios and continue with those that have positive loss ratios. We are less willing to underwrite new
businesses in accordance with the existing competitive conditions in the market. Renewals of old policies are taken
into consideration on the basis of existing loss history, minimum number (30) of vehicles, zones of transportation
and cargo carried.
Hull Construction;
The relevant department takes into consideration details such as experience of the shipyard where the hull construction
is to be made, loss history, construction duration, final sum insured, all safety precautions taken, information about
policy holders (fire precautions, gas free certificates, quality certificates), launch of vessels into sea, succeeding classes,
number of vessels that can be built at the ship yard, and availability of accumulated risks.