Gelisim News

"The scope of Compulsory Earthquake Insurance should be expanded and flood damages should be included"

In the recent past, it has been frequently discussed when Compulsory Earthquake Insurance (ZDS) will undergo modifications. Stating that the information about the studies were shared with the public, Assoc. Prof. Dr. Hakan Özcan stated that the most important change would be the expansion of the scope of CEI (ZDS) and the transformation of flood damages into Compulsory Disaster Insurance (ZAS).

Established in 2000 after the 1999 Marmara Earthquake, DASK (Natural Disaster Insurance Institution) reached 59% of the policy rate. After the Kahramanmaraş-based earthquake disaster on February 6, the insurance sector has learned certain lessons and is on the agenda to work on some changes. Commenting on the issue, Istanbul Gelisim University (IGU) Faculty of Applied Sciences (UBF) Department of Banking and Insurance Associate Professor Dr. Hakan Ozcan stated that the problems experienced during the damage compensation phase necessitated a series of changes.

The fact that DASK is only for housing caused grievances

The Natural Disaster Insurance Institution played an important role in healing wounds after the Kahramanmaraş-based earthquake disaster. Stating that approximately 30 Billion TL was paid, Assoc. Prof. Dr. Hakan Özcan: "Estimates show that this earthquake will have an impact of 5 Billion Dollars on the insurance sector and approximately 1/5 of it is covered by DASK. However, the problems experienced during the damage compensation phase necessitate a series of changes. Due to the fact that DASK is only for housing, the goods are out of coverage, the unit price per square meter is low, and this amount is not indexed to inflation, the insured experienced victimization in the last earthquake. It was also shared with the public that efforts were made to solve these problems. Probably the most important change will be the transformation of ZDS into Compulsory Disaster Insurance, that is, ZAS, by expanding the scope of ZDS and including flood damages."