News Middle East08 Jul 2020

Turkey:June floods cause estimated insured losses of around US$5.5m

08 Jul 2020

The total damage suffered in heavy floods in several parts of the country in June is estimated at about TRY38m ($5.54m), Mr Atilla Benli, president of the Turkey Insurance Association (TSB), has said.

Mr Benli said that insurers are currently coordinating quickly the assessment of damages and making claim payments.

Heavy rainfall and hail hit Istanbul, the country's business hub, causing flash floods in some districts in June. In general, over the years, summer hail storms in Istanbul have caused significant damage to cars and buildings.

To date, at least 1,500 damage reports have been received from Ankara, Burdur and Bursa by insurers and claims amounting to TRY2.8mhave been paid.

Mr Benli said, “We estimate that the total damage will reach approximately TRY38m after the damage assessments and payments are completed.”


 

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