The Turkish Natural Catastrophe Insurance Pool (TCIP) was established in 2000, following the 1999 Marmara Earthquake. TCIP is a government legal entity responsible for the provisioning, implementation and management of Compulsory Earthquake Insurance in Turkey.
With its motto “The earthquake will pass and the life will go on!”, the TCIP aims to help citizens resume their lives safely after an earthquake. The Compulsory Earthquake Insurance covers material damage that may result from earthquakes such as fire, explosion, landslide and tsunami. It helps people return to their normal lives by rapidly compensating the insured for any loss their buildings may have sustained, whether the building is uninhabitable or partially damaged.
The TCIP aims to provide everyone with the Compulsory Earthquake Insurance by offering them low premium rates and to widen the insurance coverage with its distribution network of insurance companies, insurance agents and banks.