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Advance payment period starts from TCIP for the earthquake zone

According to the statement made by the Turkish Catastrophe Insurance Pool (TCIP), in order for damage payouts to be made very quickly by the institution...

Advance payment period starts from TCIP for the earthquake zone

According to the statement made by the Turkish Catastrophe Insurance Pool (TCIP), in order for damage payouts to be made very quickly by the institution, in ruined, urgently demolished and severely damaged buildings, damage files are officially opened from the lists of residences whose official damage determinations have been completed by the Ministry of Environment, Urbanism and Climate Change, without even waiting for the notification of the insured, and payments are made.

On the other hand, after the earthquakes, TCIP reached the amount of compensation it has paid since its establishment within 20 days.

"We paid our first damage payment before 24 hours after the earthquake"

Selva Eren, General Manager of Türk Reasürans, Technical Operator of TCIP, whose opinions were included in the statement, said, "As Türk Reasürans, we have acted by putting our post-earthquake plans on the basis of all our work for TCIP so far".

Drawing attention to the importance of the operational and financial benefits of these studies in the post-earthquake process, Eren said as follows:

"After the Kahramanmaraş earthquakes, thanks to the preparatory works we carried out for the aftermath of the earthquake, we paid our first damage payment before 24 hours after the earthquake. We can receive uninterrupted damage notifications via TCIP 125, e-Government and our website. Even in order for damage payments to be made very quickly in this process, we pay our payments in the fastest way by officially opening damage files from the lists of houses whose official damage determinations have been completed by the Ministry of Environment, Urbanism and Climate Change without even waiting for the notification of the insured in ruined, urgently demolished and severely damaged buildings."

Selva Eren; The pay-in-advance period is starting

Paying priority to ruined, urgently demolished and severely damaged buildings in damage payment processes, Selva Eren stated that expert assignments were made for other buildings and that they had started a new study for insured persons who filed damage reports, as detailed in the circular published by the Insurance and Private Pension Regulation and Supervision Agency today, and that insured persons could request advance payment via the TCIP website as of today.

Eren continued with the following words:

"As we have always said, our most basic goal in this process is to benefit all our insured people in the region in the fastest way. Paying processes that we carry out by giving priority to ruined and urgent buildings to be demolished, our insured will be able to request advance payment from TCIP for damage files opened in buildings with severe and moderate damage. Within this scope, 20 percent of the insurance price for ruined, emergency and severely damaged buildings and 10 percent of the insurance price for medium damaged buildings will be paid to our insured as an advance. Our goal is to support our citizens from the first moment to heal their wounds by providing financial assurance in the process from the notification of damage to the completion of the damage investigation process."

TCIP's damage pay exceeded 1.1 billion TL

Eren, General Manager of Türk Reasürans, stated that they started working for payments immediately after the earthquakes, noting that they paid the first damage payment before 24 hours after the earthquakes and that payments continued rapidly.

Eren, who stated that there are 295 thousand damage notifications sent to them as of today, said, "The amount of compensation payment we have paid so far has reached 1 billion 120 million Turkish liras. It is very valuable for us to have paid the total amount of compensation paid by TCIP in 23 years to our insured within 20 days and to provide some benefit to our insured to heal their wounds. We have taken many measures to make our payments even faster and we are implementing them immediately. Our damage pay-out speed and amount will continue to increase every day."

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