The insurance cost of extreme rains exceeded 12 billion lira

While the damage assessment and investigation processes continue in the insurance sector following the heavy rains in the region, data regarding the cost of the disaster in question continues to take shape.

According to the information obtained by the AA correspondent from the Insurance Association of Turkey, the highest share in the distribution of the damage according to branches was fire insurance (commercial, industrial, residential) with 8 billion 936.8 million liras and 74.5 percent. Motor insurance ranked second with 2 billion 717.4 million liras and a share of 22.7 percent.

ISTANBUL CAUSED 89.8 PERCENT OF THE DAMAGE AMOUNT

In the said period, 302.6 million liras of damage occurred in construction all risk insurance, 25.5 million liras in electronic device insurance, 6.8 million liras in machinery breakage insurance, 2.5 million liras in commodity transportation insurance and 1 million liras in assembly insurance.

In the damage amounts incurred on a provincial basis, Istanbul ranked first with 10 billion 770.1 million liras and a share of 89.8 percent. Kocaeli followed Istanbul with a damage amount of 907.1 million lira and a share of 7.6 percent. Damage of 282.1 million lira was recorded in Sakarya, 22.4 million lira in Yalova and 10.7 million lira in Bursa.

On the other hand, while the payment of 1053 files was completed within the scope of flood and flood coverage, a total of 582 million lira compensation was paid to the rights holders for these files. Thus, the ratio of the paid damage to the total damage amount was 4.9 percent.

The outstanding compensation provision allocated by insurance companies for 8 thousand 662 outstanding files, which are still being investigated, was recorded as 11 billion 410.4 million lira.