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Earthquakes: nearly 9.2 million uninsured homes in Turkey

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Magazine date: 
Jul 2022

homes natural catastrophe coverageIn Turkey, 10.8 million homes, or 53.9% of the housing stock, are insured against earthquake risks.

Since the devastating Marmara earthquake in 1999, the number of homes with natural catastrophe coverage has risen significantly, but has not yet reached 100%.

The 17 August 1999 earthquake prompted the government to establish the Turkish Catastrophe Insurance Pool (TCIP) and to make earthquake insurance compulsory in Turkey.

Since the establishment of the TCIP in 2000, a total of 1.248 billion TRY (70 million USD) has been paid out to property owners for earthquake damages.

Read also | Establishment of Istanbul Financial Center [4]

Wed, 24/08/2022 - 12:04

Source URL: https://www.atlas-mag.net/en/category/pays/turquie/earthquakes-nearly-92-million-uninsured-homes-in-turkey

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