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There is around 100 billion TL of insured damage, according to TCIP and KASKO

On February 6, following the earthquake centered in Kahramanmaraş, Ahmet Yaşar, President of Maher Holding Insurance Group, made statements and evaluations about the amount to be paid by TCIP and KASKO insurances in the earthquake zone and said, "If the insurance rate had been higher, we would have paid 500 billion, not 100 billion."

There is around 100 billion TL of insured damage, according to TCIP and KASKO

But on the other hand, life goes on. Therefore, we need to use our resources correctly in order to sustain our development and the welfare of our country. Stating that insurance companies have the capacity to pay an amount much higher than the TCIP and KASKO figures in the earthquake region, Ahmet Yaşar said, "If we talk about the region, there is an insurance rate of 17 percent in KASKO; this can drop to 9 percent in workplaces.

In total, the damage we expect in the region is around 80 billion for private insurances. When we add TCIP to this, we estimate that we will pay around 100 billion TL in damages. This is a significant amount. Of course, we say, 'If the insurance rate was higher, we could have paid 500 billion, not 100 billion'.

Technically, insurance companies have the capacity to pay three times the amount they would pay now. There are some rumors; 'It was paid in this earthquake, but what will happen if there is another earthquake?' Insurance companies are moving forward by making all calculations. If you have insurance, don't worry," he said.

Stating that experts are currently in the region in terms of payments for damaged houses, Yaşar said, "TCIP payments started within the first 24 hours. The amount paid by TCIP exceeded 1.5 billion. Payments are also made to those who have KASKO in the vehicle. The amount of damage incurred in the insurance system so far is 35 billion liras. The figure that will go up to 100 billion with TCIP will be revealed gradually.

These figures may change. For example, containers burned in Iskenderun. Notifications will come more slowly. This is our estimate. As for the paid damages, currently 1.5 billion TL has been paid in TCIP and 500 million TL in private insurance. These damages are paid as the determinations are made."

"50 percent of the buildings have TCIP"

Touching upon the difference between the buildings destroyed after the two major earthquakes between those with TCIP and those without, Yaşar said, "We have 2 million 150 thousand houses in the region. 50 percent of these, 1 million 143 thousand of them, have TCIP insurance.

Only 20 percent of them have Optional Home Insurance, that is, Earthquake Home Insurance, which includes fire after TCIP and pays for damages above the limits of TCIP. The number of these insured is around 470 thousand. So far, TCIP has received around 315 thousand notifications. TCIP does not only wait for notifications.

By the way, let us also say this. Some people who want to show some intermediary activities are spreading fear with some videos. They say; "If you do not report within 15 days, you will lose your TCIP rights." There is no such thing. TCIP institution explains this in every earthquake and does not apply it. Even if there is such an article in the general conditions, it does not apply it," he said.

"Insurance sector is in coordination with TCIP"

Giving information about TCIP's practices and the behavior of insurance companies in the region, Ahmet Yaşar said: "TCIP does not wait for notification if the building has collapsed when the lists from the Ministry of Environment and AFAD arrive. The insurance company then does the following.

TCIP has paid, the building has collapsed. If the insurance company has earthquake coverage there, the insurance company also pays. Therefore, there may be problems in accessing some personal data and IBAN. TCIP has solved this. The money is sent to Vakıfbank with the Turkish ID number. Earthquake victims with TCIP receive compensation for their damages from Vakıfbank. We discussed the same system with SEDDK yesterday, and work is underway for other insurance companies to use the same system.

Therefore, our insurance companies will quickly liquidate these damages. We are trying to settle this quickly for individuals. For commercial enterprises, of course, an appraisal activity is required. The entire insurance sector is in coordination with TCIP, and we are trying to take care of things in a coordinated manner, without delaying the work, without doing duplicate work, that is, without sending three experts to the same place separately."

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