INSURANCE IN EUROPEAN UNION

TBS431

Course Code: TBS431
Semester: -
Theory+Practice: 3 + 0
ECTS: 5

Course Type

Elective Course

Course Level

Bachelor's Degree

Year of Study

Semester

ECTS

Name of Lecturer(s)

Learning Outcomes

At the end of this course, the students;

Gain general knowledge about EU institutions and describe their functions.
Explain and analyze the decision-making process in the EU.
Understand the operational functioning of the individual insurance and reinsurance market and the single passport concept within the European Community.
Examine and evaluate mathematical reserves, capital adequacy, market entry conditions, and liquidity requirements under the European Community life insurance directives.
Analyze technical reserves, capital adequacy, market entry conditions, and liquidity within the framework of the European Community non-life insurance directives.
Learn the details of motor insurance, taxation, supervision, and reinsurance operations as outlined in European Community directives.
Measure and analyze the capital adequacy of insurance companies within the Solvency II framework.
Develop solutions to risk management issues related to cross-border transactions and country groups.

Mode of Delivery

Face to face

Prerequisites

Recommended Optional Programme Components

None

Course Description

This course explores key topics including the European Union and its institutions, sources of EU law, the EU membership process, and the EU single insurance market. The course delves into life and non-life insurance within the EU, distribution channels in the EU insurance market, motor vehicle liability insurance, taxation and regulation of the EU insurance sector, capital adequacy requirements (Solvency II), and the European single reinsurance market.

Course Contents

WEEK	TOPICS
1^st Week	EU institutions and legal foundations
2^nd Week	EU institutions and legal foundations
3^rd Week	EU single insurance and reinsurance market
4^th Week	EU single insurance and reinsurance market
5^th Week	Life/non-life insurance in the EU
6^th Week	Life/non-life insurance in the EU
7^th Week	Regulation of insurance intermediaries in the EU
8^th Week	Midterm exam
9^th Week	Regulation of motor vehicle insurance in the EU
10^th Week	Supervision of the EU insurance sector
11^th Week	Taxation in the EU insurance sector
12^th Week	Solvency II
13^th Week	Sectoral indicators
14^th Week	General review

Recommended or Required Reading

Özşar, B. (2005). Avrupa Birliği sigorta müktesebat rehberi (TSRŞB Publication No: 3). İstanbul.

EU directives on insurance and reinsurance.

Oksay, S., & Acar, O. (2007). Avrupa Birliği ve Türk sigorta sektöründe denetim (TSRŞB Publication No: 9). İstanbul.

Özşar Kumcu, B. (2009). Avrupa Birliği tek reasürans piyasası ve Türkiye'nin uyumu (TSEV Publication No: 16). İstanbul.

TSRŞB. (2005). AB'nin vergilendirme yapısı ve sigorta sektörü. İstanbul.

Planned Learning Activities and Teaching Methods

Lecture
Questions/Answers
Case Study

Assessment Methods and Criteria

	Quantity	Percentage (%)
Mid-term	1	40
Total(%)		40
Contribution of In-term Studies to Overall Grade(%)		40
Contribution of Final Examination to Overall Grade(%)		60
Total(%)		100

ECTS Allocated Based on Student Workload

Activities	Quantity	Duration (Hour)	Total Workload (Hour)
Midterm exam	1	1	1
Preparation for Quiz
Individual or group work	14	3	42
Preparation for Final exam	1	40	40
Course hours	13	3	39
Preparation for Midterm exam	1	20	20
Laboratory (including preparation)
Final exam	1	1	1
Homework
Total Work Load			143
Total Work Load / 30 (h)			4.76
ECTS Credit of the Course			5

Language of Instruction

Turkish

Work Placement(s)

Programme Qualifications / Learning Outcomes

	LO1	LO2	LO3	LO4	LO5	LO6	LO7	LO8
K1
K2
K3
K4
K5
K6
K7
K8
K9
K10	X	X	X	X	X	X	X	X
K11