March 1 to 7 Earthquake reminded of the importance of the Compulsory Earthquake Insurance Week TCIP, Turkey announced that 57 percent of the overall insurance rate. TCIP Coordinator Erdal Turgut, who emphasized the need to take precautions against earthquakes, stated that they implemented the “DASK Who Makes It Earns” campaign, and said, “We expect policy production to continue increasingly after the campaign”. TCIP, which completed 30% of the damage files after the October 94 Izmir earthquake, has paid 760 million TL since its establishment.
The Natural Disaster Insurance Institution (DASK) emphasized the importance of being prepared for an earthquake in its statement on the occasion of the 1 - 7 March Earthquake Week. Compulsory Earthquake Insurance is the most important financial protection against earthquakes is equipped with more than 10 million people in Turkey today guaranteed housing. The insurance rate of 57 percent in overall Turkey is watching.
Stating that everyone should be aware of the earthquake reality and take precautions by taking their part in this regard, TCIP Coordinator Erdal Turgut said:
“We express at every opportunity that the vast majority of our country's land carries earthquake risk. It is not enough to remember this risk only after earthquakes, we must be aware of it at all times and take the necessary precautions. In this context, as TCIP, we ensure that our citizens pay very reasonable premiums and secure their homes with Compulsory Earthquake Insurance. We would like to emphasize that the Compulsory Earthquake Insurance is the most effective financial measure to be taken against an earthquake. However, when we look at the insurance rates, we still have a way to go. For this reason, we started a mobilization in 2021. While we increase the coverage of our policyholders within the scope of our campaign 'DASK Who Makes It Earns', we do not receive the premium difference. During Earthquake Week, we invite all homeowners to benefit from the campaign and take measures against earthquakes by purchasing insurance.
'DASK Who Makes It Earns' campaign increased interest in insurance
Emphasizing that they continue to work with the goal of 100% insurance as DASK, Turgut said, “We are working to ensure that all residences within our scope have Compulsory Earthquake Insurance coverage. It is pleasing for us to see an increase in policy production after the campaign we launched for this purpose. We expect the insurance rates to increase even more, ”he said.
The average annual premium under the campaign in Turkey is estimated at £ 163. The highest coverage amount to be paid for the Compulsory Earthquake Insurance houses damaged in the earthquake rose to 268 thousand TL.
TCIP has paid 760 million TL so far
Reminding that there were 2020 major earthquakes in 2, Turgut said, “We can say that there is an increase in the interest in Compulsory Earthquake Insurance after the Elazig and Izmir earthquakes. As TCIP, we started our work with the aim of completing the payments rapidly after the earthquakes. We paid 24 million TL for the Elazig-centered earthquake that took place on January 269. We finalized 30 percent of the damage files opened after the October 94 Izmir earthquake and paid 266 million TL. As DASK, the total amount of payments we have made so far has reached 760 million TL ”.
Turgut said, “Our biggest motivation is that Compulsory Earthquake Insurance holders whose houses were damaged in the earthquake, can rebuild their lives and return to their old living standards in a short time with the payments they receive from TCIP. Izmir earthquake insurance after we receive our thanks, Turkey target to deliver 100 percent of insurance has motivated us even more, "he said.