The Turkish Catastrophe Insurance Pool

Burcak Basbug Erkan

Research output: Contribution to specialist publicationArticle

Abstract

1999 is a milestone in Turkish history concerning earthquake losses. Total economic loss of 1999 earthquakes was approximately 5-7% of GDP that is approximately 20 billion USD. This significant deficit occurred as a result of the Marmara earthquake of August 17, 1999 and November 12, 1999 Duzce earthquake. These two earthquakes of same year speeded up the process of initiating a financial mechanism in Turkey to lessen the economic impacts of disasters.
Original languageEnglish
Pages5-6
Number of pages2
No.14
Specialist publicationThe Turkish Insurance and Pension Newsletter
Publication statusPublished - 17 Nov 2014
Externally publishedYes

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