Amendments Made by SEDDK to DASK Working Principles Regulation
With the new regulation published in the Official Gazette, new rules have been introduced regarding the investment and expenditure processes of the Natural Disaster Insurance Pool.
The Insurance and Private Pension Regulation and Supervision Agency has amended the Working Principles Regulation of the Natural Disaster Insurance Pool, establishing new procedures and principles regarding fund management and expenditure limits.
Regulation Published in the Official Gazette
The amendments made to the Working Principles Regulation of the Natural Disaster Insurance Pool, prepared by the Insurance and Private Pension Regulation and Supervision Agency, have entered into force by being published in the Official Gazette.
Expenditure Reporting Principles
Regardless of the procurement method, reports prepared as a result of the evaluation made by the commission regarding expenditures exceeding 5 times the specified amount will be reported to the SEDDK by the technical operator in the months of January, April, July, and October.
Directing Funds to Investments
The principles of diversity, liquidity, keeping the risk of principal loss at the lowest level, and high return will be essential in directing the institution's fund to investments.
Portfolio Management Authority
The TCIP fund can be managed by the Technical Operator or by portfolio management companies authorized by the Capital Markets Board that are public capital or subsidiaries of public capital banks.
Borrowing Instrument Investment Limit
Investments made in debt instruments and lease certificates issued by the Ministry of Treasury and Finance and Asset Leasing Companies cannot be less than one-third of the Institution's fund.
Goods and Services Procurement Limit
The limit for the price of the goods to be purchased and the annual price of the service has been determined as 1 million 200 thousand liras, excluding Value Added Tax.