Earthquake Insurance in Turkey: History of the Turkish Catastrophe Insurance Pool (by Serap Oguz Gonulal, Eugene N. Gurenko, Olivier Mahul, Rodney R. Lester)


Author(s): Serap Oguz Gonulal, Eugene N. Gurenko, Olivier Mahul, Rodney R. Lester

Publisher: World Bank Publications
Publish date: 2006-05-24
ISBN-10: 0821365835
ISBN-13: 9780821365830
Language: English
Description: The persistent potential for large scale natural disasters has
become a real concern for the Turkish government since the late
1990s, which ultimately led to the establishment of the Turkish
Catastrophe Insurance Pool (TCIP). Among the main rationale of the
creation of the TCIP were a grave government fiscal exposure to
natural disasters and a disproportionately low level of catastrophe
insurance penetration for such a disaster-prone country. Since the
commencement of this program in 2000, the TCIP has provided
coverage to more than 2 million households, being by far the
largest insurance program in the country. In four years, the TCIP
has managed… more…

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