Insurance companies in Turkiye paid out a cumulative TRY50bn ($2.6bn at February 2023 exchange rates) in ...
Turkiye: Agricultural insurance pool pays out US$1.2m promptly for tornado damage
TARSIM, the Agricultural Insurance Pool, has paid out TRY39m ($1.2m) to greenhouse producers in the southern province of Antalya whose crops were damaged by a recent tornado...
TARSIM, the Agricultural Insurance Pool, has paid out TRY39m ($1.2m) to greenhouse producers in the southern province of Antalya whose crops were damaged by a recent tornado...
Article / 10 days ago
Turkish insurers cover insured losses estimated at more than $5bn from Kahramanmaras Earthquake
Insurance companies in Turkiye paid out a cumulative TRY50bn ($2.6bn at February 2023 exchange rates) in compensation claims as of 5 February 2024 related to the massive 6 February earthquakes in 2023
Insurance companies in Turkiye paid out a cumulative TRY50bn ($2.6bn at February 2023 exchange rates) in compensation claims as of 5 February 2024 related to the massive 6 February earthquakes in 2023
Article / 1 month ago
Morocco: Parametric insurance pool pays out US$275m for Sep 2023 quake
A parametric insurance pool brokered by Gallagher Re has paid compensation of $275m to Morocco's Solidarity Fund against Catastrophic Events (FSEC), relating to the September 2023 M6.8 Al Haouz earthquake.
A parametric insurance pool brokered by Gallagher Re has paid compensation of $275m to Morocco's Solidarity Fund against Catastrophic Events (FSEC), relating to the September 2023 M6.8 Al Haouz earthquake.
Article / 2 months ago
Turkiye: Government's 2023 cash support for Kahramanmaras earthquakes exceeds $3.46bn
Following the massive 4 February earthquakes centred on Kahramanmaras Province in 2023, the amount of cash support provided to earthquake victims reached TRY105.46bn ($3.46bn), according to information from the Ministry of Treasury and Finance.
Following the massive 4 February earthquakes centred on Kahramanmaras Province in 2023, the amount of cash support provided to earthquake victims reached TRY105.46bn ($3.46bn), according to information from the Ministry of Treasury and Finance.
Article / 2 months ago
Turkiye: Ombudsman recommends quake insurance compensation be based on 2023 payout rates
The Ombudsman Institution (KDK) has recommended that the insurance compensation payable to those whose homes were damaged in the 6 February Kahramanmaras-centred earthquake be based on 2023 tariffs instead of 2022 rates.
The Ombudsman Institution (KDK) has recommended that the insurance compensation payable to those whose homes were damaged in the 6 February Kahramanmaras-centred earthquake be based on 2023 tariffs instead of 2022 rates.
Article / 5 months ago
Morocco: 8 Sep quake is first event declared a disaster under special CAT insurance scheme
More than 8,000 claims have been received by insurance companies related to damages suffered during the 8 September earthquake in the High Atlas Mountains in Morocco, according to Mr Bachir Baddou
More than 8,000 claims have been received by insurance companies related to damages suffered during the 8 September earthquake in the High Atlas Mountains in Morocco, according to Mr Bachir Baddou
Article / 5 months ago
Morocco: 8 Sep quake declared a natural disaster, activating insurance scheme
The 8 September earthquake in the High Atlas Mountains in Morocco has been officially declared a natural disaster, paving the way for the activation of a special insurance coverage scheme.
The 8 September earthquake in the High Atlas Mountains in Morocco has been officially declared a natural disaster, paving the way for the activation of a special insurance coverage scheme.
Article / 5 months ago
Egypt's insurance federation chief estimates Morocco quake to cost insurers US$300m
The amount of compensation that insurance companies would pay in Morocco due to the large losses caused by the 8 September 6.8-magnitude quake that struck in the High Atlas Mountains
The amount of compensation that insurance companies would pay in Morocco due to the large losses caused by the 8 September 6.8-magnitude quake that struck in the High Atlas Mountains
Article / 7 months ago
UAE: Clyde & Co wins landmark DIFC Court of Appeal case with jurisdictional implications for insurers
The Dubai team of the global law firm Clyde & Co has resisted a jurisdictional challenge before the DIFC Court of Appeal in a significant case for the UAE insurance market.
The Dubai team of the global law firm Clyde & Co has resisted a jurisdictional challenge before the DIFC Court of Appeal in a significant case for the UAE insurance market.
Article / 9 months ago
Turkiye: Several reinsurers announce 6 Feb quake losses
Several global reinsurers have reported estimated losses arising from the devastating earthquakes in Turkiye on 6 February, as they released their 1Q2023 financial statements.
Several global reinsurers have reported estimated losses arising from the devastating earthquakes in Turkiye on 6 February, as they released their 1Q2023 financial statements.
Article / 10 months ago