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DISASTER AND EMERGENCY MANAGEMENT PRESIDENCY

DISASTER AND EMERGENCY MANAGEMENT PRESIDENCY. DISASTER INSURANCE IN TURKEY. Özlem VELİOĞLU MSc . Geological Engineer. TURKISH CATASTROPHE INSURANCE POOL (TCIP).

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DISASTER AND EMERGENCY MANAGEMENT PRESIDENCY

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  1. DISASTER AND EMERGENCY MANAGEMENT PRESIDENCY DISASTER INSURANCE IN TURKEY 23-24 April 2013, MACEDONIA- Berovo "lnsurance as a method for Disaster Risk Reduction in SEE Özlem VELİOĞLU MSc. GeologicalEngineer

  2. TURKISH CATASTROPHE INSURANCE POOL (TCIP)

  3. Because of the geologic and topographic structure and climate attributes of Turkey, it isfrequently confronted with natural disasters that lead to immenselosses of life and property. • Natural disasters that affect Turkey can be put in order according to their severity: • earthquakes, landslides, water floods, rock sliding, fires, avalanches, storms and undergroundwater movements. • Within the past sixty years, when the statistics of the structural damage • caused by the natural disasters are taken into consideration, it is observed that 2/3 of thesedamages occur due to earthquakes. As a result, in Turkey when natural disasters arementioned, the first thing that comes to mind is earthquakes.

  4. EarthquakeZonationMap of Turkey

  5. Disasters in Turkey (in thelast 100 yearsaccordingtodamagedhouses) Avalanche and other %1 Earthquake %61 Fire %4 Rock Fall %5 Flood %14 Landslide %15

  6. SCOPE OF INSURANCE The Turkish Catastrophe Insurance Pool (TCIP) covers property (material) damages caused directly by earthquakes and other perils of fire, explosion, tsunami or landslide caused by earthquake for up to the sum insured under the Compulsory Earthquake Insurance Policy.

  7. Natural DisasterInsuranceInstitution (TCIP) Established in 2000, Natural Disaster Insurance Institution (TCIP) is legal entity which is responsible for provision, implementation and management of Compulsory Earthquake Insurance in our country. TCIP aims at the continuance of citizens’’life safely after the earthquake from where it is left.’’ With Compulsory;

  8. Why TCIP The geological structure of the country Widespraed lack of awareness of insurance Burden the state budget

  9. TCIP’saims • Earthquake Insurance, insured house owners are provided with pecuniary assurance against earthquake and the risks of fire, explosion, landslide and tsunami following the earthquake. • It mediates the normalization of life by indemnifying the building's damage immediately whether the building is inhabitable or partially damaged. • While improving the penetration of Compulsory Earthquake Insurance countrywide with a distribution network consisting of its partner insurance companies, their agencies and bank branches, TCIP aims at enabling everyonetohave this assurance with its low premium costs.

  10. We can list main purposes of this system; • Insure of all covered houses against earthquakes with affordable premiums • Enabling risk sharing in the country • Distribution of the financial liability of earthquake damages for our country to international reinsurance and capital markets via insurance • Reducing the financial liability of the government that is caused by the earthquakes – especially the construction of disaster houses after the earthquake. • Prevention of potential additional taxes which is caused by the government's financial liabilities and which will be reflected on the citizens • Usage of insurance system in the construction of healthy building as an incentive tool • Provision of long-term resource accumulation in terms of meeting the earthquake losses • Contribution to the development of insurance and social cohesion consciousness in the society

  11. STRUCTURE OF THE TCIP The fundamental structure of TCIP is based on the public-private partnership initiation;

  12. Insurableproperty Buildings and dwellings subject to compulsory earthquake insurance are as follows: • Buildings constructed as dwellings on lands subject to private ownership and have registered title deeds. • Independent sections within the context of the Condominium LawNo: 634. • Independent sections situated inside residential buildings but usedas small businessestablishments, bureaus, and similarpurposes. • By reason of natural disasters, properties built by the governmentorbuilt by housing credit.

  13. Uninsurableproperty • Dwellings belonging to public body and institutions. • Dwellings built in residential areas of villages. • Dwellings entirely used for commercial and industrial purposes (block of offices,business centers, administrative service buildings, training centerbuildings etc.), • Dwellings that are still under construction. • Independent units and dwellings that were built afterDecember 27, 1999, without anyconstruction permit granted within the framework of the legislation.

  14. Scope of Coverage With the Compulsory Earthquake Insurance; • earthquakes • fires as a result of earthquakes • explosions as a result of earthquakes • landslides as a result of earthquakes Exclusions • Removal of debrisexpenses • Loss of profit • Loss of income • Loss of rent • Alternative residence and work place expenses • Financial liabilities and all other similar indirect damages brought forward • All sorts of movable goods, furnishings and other items • All personal injury including death • Claims of damages for pain and suffering

  15. Essential Information andDocumentsforInsurancePolicy • Name, address, telephone number and mobile phone number of the insured • Tax ID number and Turkish Republic ID number of the insured • Full address of the residence that is to be insured • Title deed information • Construction year of the building • The construction type of the building • Total number of floors in the building • The damage condition of the building • Gross square meter (m2) of the dwelling (apartment) • Type of usage of the dwelling

  16. TCIP Natural DisasterInsuranceInstitution Law No: 6305Date of Acceptance: : 09/05/2012CATASTROPHE INSURANCE LAW • The objective of this Law is to determine the procedures and principles for the compulsory earthquake insurance to cover the financial losses which may arise in buildings due to earthquakes and for the insurance and reinsurance coverages to be presented in order to cover the material and physical damages which may arise as a result of various disasters and risks which cannot be covered by insurance companies, or which bring about challenges with regards to offering coverage.

  17. TARIFF AND INSTRUCTION OF COMPULSORY EARTHQUAKE INSURANCE PurposeandScope The tariff and instructions - which are given below - are applied on the CompulsoryEarthquake Insurance which will be provided pursuant to Catastrophe Insurance Law dated 09/05/2012 and numbered 6305. Tariff The TCIP’s premium tariff is determined by the Treasury Under secretariat and 3 factors determine the insurance premium amount: • Location of the building according to earthquake risk zones • Construction type of the building • Gross square area of the dwellingpolicy. As follows; the structure styles that are indicated in the tariff; A—Steel, Reinforced Concrete Frame Structures, B—MasonryStone Structures, C—OtherStructures.

  18. There are 15 tariff rates determined according to 5 risk zones and 3 different constructiontypes. Maximum AssuranceAmount Within the scope of Compulsory Earthquake Insurance, maximum assurance amount for a dwelling shall be 150.000 TL notwithstanding with its building style.

  19. Establishmentof InsuranceFee The unit square meter costs which are settled according to the structuretype and used in calculation of the insurance compensation are as follows Thisindicated gross square meter values changes in the ratios of the“BuildingConstruction Cost Index,” statements made by the State Institute of Statistics andannounced in the Official Gazette. InsuranceTerm The term of the insurance is one year. The expired insurance policy shall be renewed every year by the insured or assured.

  20. AgriculturalInsuranceSystem in Turkey AgriculturalInsurancewaspassed on 14.06.2005 withLaw No:5363 Insuranceimplementations of TARSIM shall be supervisedbytheUndersecretariat of theTreasury, allotheroperationsshall be supervisedbytheMinistry of AgricultureandRuralAffairs.

  21. AgriculturalInsuranceSystem in Turkey • In the Farmer Registration System, the following policies can be developed by using TARSIM Corporation (Agricultural Insurance Pool Corp.); • Grant-aided herbal product insurance policies for all private and corporate entities whose production and field information are updated and valid. • Grant-aided animal life insurance policies for all great cattle and poultry in animal production enterprises with an enterprise number. • Grant-aided greenhouse insurance policies for all greenhouses whose product and technical information is valid, updatedand registered in the system. • Grant-aided insurance policies for water productions made in registered plants. • Natural risksto be coveredsuch as drought, hail, flood, storms, tornadoes, earthquakes, fire, uncontrollablepests, diseases, andaccidentsforcrops, greenhouses, agriculturalbuildings, agriculturalmachineryandlivestockshall be determinedbytheCouncil of theMinistersbased on theproposals of the Management Committee of thePool.

  22. Thank you… Özlem VELİOĞLU MSc. Geological Engineer Disaster and Emergency Management Presidency ozlem.velioglu@afad.gov.tr

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