Expansion of the Turkish Catastrophe Insurance Pool (TCIP)

The floods that have hit Turkey in recent months have prompted the supervisory authorities to broaden the scope of the already existing natural catastrophe pool (TCIP) which only covers earthquake risks.

The pool is now expected to provide insurance coverage against floods, landslides, storms, hail, frost, avalanches and other hazards.

The developments of this expanded compulsory natural disaster insurance scheme are expected to be completed shortly.