Changes to mandatory personal accident insurance for miners: Coverage increased to 1 million liras

The "Communiqué on the Tariff and Instructions for Mandatory Personal Accident Insurance for Mine Workers" by the Insurance and Private Pension Regulation and Supervision Agency (SEDDK) has been published in the Official Gazette and entered into force.

ANNUAL PREMIUM INCREASED

According to the communiqué, while the premium and coverage fees, which were last determined in 2015, have been updated, the annual premium fee paid per person by mining companies has increased from 700 liras to 4 thousand 675 liras. The coverage amount provided for disability and death has been raised from 150 thousand liras to 1 million liras.

The amount that insurance companies are mandatorily required to reinsure with the Special Risks Management Center for damages exceeding 1.5 million liras has been increased to 10 million liras.

While the General Terms of Mandatory Personal Accident Insurance for Mine Workers continue to apply to disability coverage, at least two experts will be included in risk assessment committees. The reports of the risk assessment committees will be made accessible to the General Directorate of Mining and Petroleum Affairs (MAPEG).

UPDATE TO EXPERT FEES

With the regulation, risk assessment fees have also been updated. For mining enterprises with 10 or fewer personnel engaged in production, the fee has been set at a net of 3 thousand 325 liras per expert and a net of 2 thousand 675 liras per specialist.

For enterprises with between 10 and 20 personnel, this amount is a net of 5 thousand liras per expert and a net of 4 thousand liras per specialist, while for enterprises with between 20 and 30 personnel, the fee paid per expert has risen to a net of 6 thousand 675 liras and to a net of 5 thousand 325 liras per specialist. In cases where the number of employees involved in production exceeds 30, the risk assessment fees for enterprises are priced differently for underground and surface operations.

In cases where the activity is not physically present, a risk assessment will be conducted based on the project submitted to MAPEG, and a report will be prepared. For these enterprises, the cost of the risk assessment will ultimately not exceed 2 thousand 675 liras per expert and a net of 2 thousand 325 liras per specialist.

Under the scope of the communiqué, if it is determined as a result of risk assessments that a mining enterprise does not meet the specified conditions, the fee collected will be recouped from the enterprise in question after being paid to the committee members by the insurance company along with other expenses.