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- W1636852957 abstract "Through a World Bank project a government-sponsored Turkish Catastrophic Insurance Pool (TCIP) is created in 2000 with the essential aim of transferring the government’s financial burden of replacing earthquake-damaged housing to international reinsurance and capital markets. Providing coverage to about 2.9 Million homeowners TCIP is the largest insurance program in the country with about 0.5 Billion USD in its own reserves and about 2.3 Billion USD in total claims paying capacity. The total payment for earthquake damage since 2000 (mostly small, 226 earthquakes) amounts to about 13 Million USD. The country-wide penetration rate is about 22%, highest in the Marmara region (30%) and lowest in the south-east Turkey (9%). TCIP is the sole-source provider of earthquake loss coverage up to 90,000 USD per house. The annual premium, categorized on the basis of earthquake zones type of structure, is about US$90 for a 100 square meter reinforced concrete building in the most hazardous zone with 2% deductible." @default.
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- W1636852957 date "2009-04-01" @default.
- W1636852957 modified "2023-10-18" @default.
- W1636852957 title "Turkish Compulsory Earthquake Insurance (TCIP)" @default.
- W1636852957 hasPublicationYear "2009" @default.
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