Since its conception, Rosenberg & Parker of Turkey has played a large role in facilitating Surety in Turkey.
When a client needed a surety facility, Meltem set out to find out all she could about surety. Her research led her to Rosenberg & Parker located outside of Philadelphia, Pennsylvania. She connected with Chad Rosenberg, one of the company’s Principals, and through many conversations, both Meltem and Chad agreed that surety was a product that could thrive in Turkey.
Rosenberg & Parker, founded in 1944, is based in America and a 3rd generation, family-owned international broker with offices in the United States, Canada, and Turkey that specializes in surety. Instead of having a basic knowledge on a wide array of insurance products, Rosenberg & Parker has made surety their sole focus and catering its client portfolio that includes Fortune 100 companies of the countries they operate in.
With Rosenberg & Parker’s vast cross-border connections, and the expertise of its staff, along with countless meetings and studies with Turkey’s public institutions, international reinsurance companies, Turkish contractors, developers, sectorial associations, Rosenberg and Parker of Turkey helped to build the Turkish surety market from legislative infrastructure to end user applications.
Today, along with the brokerage services provided to the contractors and developers domiciled in Turkey, Rosenberg & Parker of Turkey also works with several insurance companies in an advisory capacity for their surety practices. By capitalizing on Rosenberg & Parker’s expertise in surety, RPT provides guidance to insurance firms on determining their underwriting processes and assist in finding reinsurance capacity and help them emulate the surety best practices worldwide. In some cases, RPT administers operational support as a Management General Agency (MGA) or Management General Underwriter (MGU), providing initial screening and underwriting for their potential clients.