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Special Risks
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What are the Insurance Services Covered by Special Risks?

Insurance services that fall under special risks may include customized types of insurance, often designed to address the specific or unique needs of individuals or businesses. These insurance services are generally differentiated from common insurance categories and focus on specific risks. Here are examples of insurance services offered for some specific risks:

What is Clinical Trials Insurance?

Clinical Trials Insurance is a type of insurance that covers legal liabilities that may arise as a result of damages caused to participants or third parties during the conduct of clinical trials.

In many countries, such insurance is mandatory before clinical trials can be initiated. The main purpose of this insurance is to provide compensation for material and moral damages that may occur as a result of unexpected side effects or complications that may occur during the testing of a drug, device or treatment method.

What is Credit (Receivables) Insurance?

Within the scope of credit limits set for buyers, the Bank guarantees forward and open-account sales made in Turkey and abroad – other than cash and bank guarantees. Receivables insurance is a type of insurance used to protect a company’s trade receivables. Receivables insurance protects against financial risks that arise if the company’s customers fail to make payments or extend payment terms. This insurance helps businesses maintain their cash flow and financial stability while protecting their receivables. Here are the main features of receivables insurance.

What is Political RiskInsurance?

Political risk can be defined literally as the risk of damage to the activities of companies operating internationally due to problems arising from the country in which they do business abroad, third countries or their own country. In general, it includes most of the risks other than commercial risks. Under this type of insurance, it offers sub-insurance products such as expropriation, breach of contract, transfer restrictions and political violence.

What is Cyber Risk Insurance?

Data protection damages, business interruption damages, defenses against public authority and fines, cyber ransom damages, information security and privacy liability and data breach costs arising from a cyber security risk are covered under the conditions and exclusions in our policy.

What is Art and CollectiblesInsurance?

Art galleries, galleries and museums cover the risks of fine arts such as paintings and sculptures owned by art galleries, galleries and museums for the risks during their exhibition and transportation. Art and collectibles insurance is a type of insurance designed for special items such as valuable works of art, collections or antique objects. These types of insurance protect against risks such as loss, damage or theft of such valuable assets.

  • Artworks Insurance
  • Jewelry Insurance
  • Antiques and Collectibles Insurance
  • Glass Artworks Insurance
  • Digital Art Insurance
  • Collector Car Insurance

What is Event Cancellation Insurance?

It is a type of policy that covers the payment of the event expenses and the artist’s fee in case the planned events are canceled due to reasons such as bad weather conditions, the inability of the artist to perform, the inability of the event organizers to participate in the event, terrorism/political risks, and damages to third parties in the event area.
Event cancellation insurance is a type of insurance that aims to protect the financial losses incurred by an organizer or event owner if a planned event is canceled or postponed for an unexpected reason. This insurance is offered for various types of events such as concerts, sporting events, weddings, fairs, conferences, festivals and other large organizations.
Event cancellation insurance can typically have the following basic coverage and risks:

  • Inability of the event organizer to attend the event
  • Weather Conditions 
  • Health Problems 
  • Terrorist Attacks and Public Events 
  • Equipment Malfunctions
  • Cancellation by Artist

What is Surety Insurance?

In surety insurance, the debtor guarantees the creditor/employer up to the amount of the surety bond issued to the creditor/employer against the risk of the debtor’s failure to fulfill its obligations arising from the contract and/or the law. This insurance is an alternative financial product to banking products.
The main purpose of surety insurance is to protect the financial losses and damages of the other party in the event that one party fails to fulfill its obligations or fails to comply with the terms of the contract. This type of insurance can be applied for the outcome of a lawsuit, breach of a business agreement or similar situations. Examples of surety insurance include Construction Surety Insurance, Commercial Surety Insurance and Court Surety Insurance.

P&I Insurance Protection & Indemnity

P&I Insurance (Protection & Indemnity Insurance) is a type of insurance used in maritime trade and the maritime industry. Unlike traditional marine insurance, P&I insurance is usually purchased by ship owners, operators or bareboat charters. This insurance protects ship owners and operators against a wide range of liabilities that may arise in the course of ship management and operation.  In general, the following coverage is provided under the insurance:

Injury, illness, death compensation and expenses for seamen or third parties Injuries of seamen or third parties Repatriation expenses of seamen Loss or damage to the personal belongings of seamen Deviation and port charges Stowaways and refugees Sea rescue operations Collision liabilities Damage to property on land and at sea / damage to fixed and floating objects Towing liabilities Wreck removal Quarantine expenses Liabilities arising from the transportation of cargo (shortage, damage, destruction) The ship’s share in general average Fines Legal and court costs

What is Animal Life Insurance?

Animal life insurance is a type of insurance designed to protect the health and living conditions of your pets (for example, dogs and cats). This type of insurance protects your pets against veterinary care, treatment costs and unexpected health problems. Animal life insurance can help pet owners cope with unexpected veterinary expenses.

  • – Veterinary Care 
  • – Unexpected Treatments 
  • – Surgical Interventions
  • – Medicine and Treatment
  • – Death or Loss
  • Animal life insurance provides pet owners with financial security to deal with unexpected veterinary costs. This type of insurance helps pet owners maintain the health and well-being of their pets. Insurance policies can vary depending on the coverage of the policy, premiums, and the type, age, and health condition of the animal.

What is Agriculture Insurance?

In order to prevent damages that may arise due to climatic conditions and to minimize the damages that may occur as a result of natural disasters, state-sponsored agricultural insurance is organized. In Turkey, this process is managed by the Agriculture Insurance Pool (TARSİM). Natural disasters such as floods, fires and storms, as well as all situations that threaten production, such as injuries to poultry, illnesses or deterioration of the farmer’s health, are covered by agricultural insurance.

  • Greenhouse Insurance
  • Crop Insurance
  • Bovine and Ovine Life Insurance
  • County Based Drought Yield Insurance
  • Poultry Life Insurance
  • Beekeeping Insurance
  • Aquaculture Life Insurance

What is Ship Insurance?

Boat and Machinery Insurances provide coverage for all types of marine vessels (tankers, dry cargo ships, bulk carriers, sea buses, tugboats, floating cranes, floating docks, etc.) used in the transportation of cargo for commercial purposes against risks that may be encountered at sea. Ship insurance is a type of insurance used to manage the risks associated with maritime transportation and to provide financial security for ship owners, operators or transportation companies. Ship insurance generally provides protection of the ship and its cargo against various hazards.

  • Ship Comprehensive Insurance
  • Freight Insurance
  • Business Financial Liability Insurance  
  • War and Strike Insurance  
  • Arbitration Insurance

Ship insurance provides protection against serious financial risks in the maritime transportation industry and ensures that operators, ship owners and cargo owners are safe against various hazards. These types of insurance are usually obtained through insurance

What is Boat – Yacht Insurance?

Boat and yacht insurance refers to types of insurance for marine vessels for individuals and businesses in the maritime sector. These insurances are used to protect the ships, boats or yachts of people or organizations interested in maritime activities against possible risks. Boat and yacht insurance can usually include the following coverages:

  • Comprehensive Insurance  
  • Liability Insurance  
  • Yacht Owner Liability Insurance
  • Passenger Insurance
  • Sailing Insurance
  • Equipment Insurance
  • Maritime Assistance and Towing Services

What is Aviation Insurance?

Organizations operating in the field of aviation must take responsibility for situations that arise as a result of problems caused by personnel error or unexpected accidents during flight. Aviation insurances ensure that the damage that occurs in these situations is covered without economic burden on your company. Aviation insurances can be categorized under 3 main headings: hull, liability and personal accident insurance. Some basic types of aviation insurance are as follows:

  • – Aircraft Hull Insurance
  • – Aircraft Hull, War, Terrorism Insurance
  • – Pilot License Loss Insurance
  • – Aircraft Liability Insurance
  • – Flight Personnel Personal Accident Insurance
  • – Airport Operator Liability Insurance
  • – Hangar Operator Liability Insurance
  • – Aircraft Product Liability Insurance

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