Although the Turkish Catastrophe Insurance Pool (DASK) has been working for over 25 years to increase the rate of mandatory earthquake insurance, approximately half of the homes across Turkiye are uninsured.
According to DASK data, 11.7m homes in Turkiye are insured, but the insurance coverage rate nationwide remains at 58%, reported Anadolu Agency. This is despite several major disasters that have occurred in the country, most notably the 6 February 2023 Kahramanmaras-centred earthquake.
Established in Turkiye after the 17 August 1999 Marmara Earthquake to provide insurance against material losses caused by earthquakes, DASK’s goal is to have 100% Compulsory Earthquake Insurance (ZDS) coverage.
DASK Secretary General Balkir Demirkan emphasised that the 58% insurance coverage rate in Turkiye is not enough. He said, "Our target is a 100% insurance coverage rate.”
The ZDS subscription rate differs among the various regions in the country The highest rate was recorded in the Marmara Region with 65%. Marmara was followed by Eastern Anatolia with 64% and Southeastern Anatolia with 63%.
Mr Demirkan stated that the tendency to take out insurance is higher in regions where earthquakes occur more frequently, while policy purchase and renewal rates decrease in regions where earthquakes are relatively infrequent.
Since DASK began operations in 2000, 1,397 damaging earthquakes have occurred across Turkiye, and the institution has received a total of 867,275 claims.
DASK is preparing to incorporate artificial intelligence in its work. The institution is working on AI-powered processes to assess damages more quickly and accurately in the event of a potential earthquake. Several pilot projects are reportedly underway.