TARSIM, the Agricultural Insurance Pool, has paid out TRY39m ($1.2m) to greenhouse producers in the south...
Oman: Call for action amidst flood carnage
Insurance companies will be apprehensive of potential exposure from claims filed by private homes and businesses impacted by the severe flooding in Oman since 14 April.
Insurance companies will be apprehensive of potential exposure from claims filed by private homes and businesses impacted by the severe flooding in Oman since 14 April.
Article / 5 days ago
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 / 1 month ago
Turkiye: Call made for insurance to be mandatory for factories
The insurance industry in Turkiye faces several challenges, according to the chairman of the Istanbul Chamber of Industry, Mr Erdal Bahcivan.
The insurance industry in Turkiye faces several challenges, according to the chairman of the Istanbul Chamber of Industry, Mr Erdal Bahcivan.
Article / 2 months ago
Türkiye: Spike in quake insurance sales lasts for 3 months after Feb 2023 disaster
Insurance sales jumped immediately after the devastating February 2023 7.8 magnitude earthquake, but this spike lasted for around three months only, according to Insurance Association of Türkiye (TSB) member of the board Yavuz Olken.
Insurance sales jumped immediately after the devastating February 2023 7.8 magnitude earthquake, but this spike lasted for around three months only, according to Insurance Association of Türkiye (TSB) member of the board Yavuz Olken.
Article / 2 months 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 / 2 months ago
South Africa: Insurance premiums expected to increase due to impact of climate change
Climate change poses the most significant threat for South African insurance companies and risks raising premiums and the cost of reinsurance, reported Bloomberg, quoting a top official at its biggest insurer by assets.
Climate change poses the most significant threat for South African insurance companies and risks raising premiums and the cost of reinsurance, reported Bloomberg, quoting a top official at its biggest insurer by assets.
Article / 2 months 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 / 3 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 / 3 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 / 6 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 / 6 months ago
