Mandatory insurance policy for vessels calling at Turkish ports
20 September, 2017
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According to the current regulations, since 2011 all vessels over 300 GT calling at Turkish ports or other facilities in Turkish waters, as well as Turkish flagged vessels, must have valid P&I insurance policy which covers risks and liabilities up to the limitation level stipulated in the Convention on limitation of liability for maritime claims 1976, and 1996 Protocol amending that Convention.
In this regard (and particularly with respect to the Turkish-flagged vessels) in 2012 the government of Republic issued a Directive on accredited P&I clubs and insurance companies which are considered by the State as reputable to provide insurance for the vessels under Turkish flag.
This Directive divided the P&I clubs and insurance companies into three categories: P&I clubs that are members of international groups of P&I clubs; P&I clubs and institutions having international rating BBB and over; all other P&I clubs and institutions. The Directive established certain standards for each group, which the P&I clubs and insurance companies must comply with in order to remain accredited in Turkey.
Due to the recent cases of pollution and other environmental issues in Turkey, in May 2017 the Ministry has put into force the amendments to the above Directive. According to these amendments, the 3rd group of P&I clubs has been drastically cut. The requirements for 2nd group P&I clubs were substantially increased and additional certificates and financial standards became obligatory for this category. The requirements for the 1st group remain unchanged. All clubs and institutions, except those falling in 1st group, must renew their applications to Turkish government according to the new standards before 30 November 2017.
As per to the subject amendments the list of respectable P&I clubs is shown at the website of the Ministry of transport, maritime affairs and communications.
LIST OF RESPECTABLE P&I CLUBS AS PER TO THE REGULATIVE CIRCULAR OF MINISTRY OF TRANSPORTATION
