Turkey: Insurers' work hampered by violence
Source: Middle East Insurance Review | Oct 2015
Hundreds of vehicles and workplaces have been burnt as a result of escalating violence in Turkey’s eastern region, leading to a surge in claims lodged with insurance companies especially from transportation and construction companies in the region.
However, insurance experts are unable to visit the region for damage assessment amid the violence, reported Hurriyet Daily News, with representatives concerned about their personal safety. In addition, some roads have been closed to traffic by security forces.
Damage assessment in the region by insurance companies are made out of the cities of Van, Urfa and Diyarbakir, said sources. Experts, however, have been unable to make these visits for the past few weeks.
Turkey has been shaken by rising conflict between security forces and the outlawed Kurdistan Workers’ Party.
Last December, Turkish Finance Minister Mehmet Simsek said that the country had lost US$350 billion directly and $1 trillion indirectly over the last 30-40 years due to terrorism and its spillover effects. In addition, due to terrorism, Turkey’s eastern and southeastern regions have been unable attract direct investments, despite the fertile agricultural soil and a young population, he noted.