Small increase in the penetration rate of earthquake insurance

At the end of 2012, Turkey introduced a law requiring homeowners to purchase earthquake insurance from TCIP (Turkish Catastrophe Insurance Pool). A necessary condition for homeowners to have access to amenities such as electricity or water.

Despite the introduction of this law, only 37% of real estate owners are insured against this risk. Underwriting contracts have nonetheless increased by 65% since 2012. The authorities had better push the population to insure against earthquakes to transfer risk to the private sector.