Turkey’s Minister of Treasury and Finance, Mehmet Şimşek, recently announced the anticipated introduction of Mandatory Disaster Insurance (Zorunlu Afet Sigortası, ZAS) within the insurance sector by the end of June. Halil İbrahim Ece, the General President of the Association of Insurance Agents and Brokers (SAAD) and CEO of AİS Insurance, expressed the industry’s support for this initiative.
Ece highlighted the increasing frequency of natural disasters in recent years, driven by climate change, which has resulted in significant destruction and loss of life, notably during the 1999 earthquake. He compared the forthcoming ZAS to existing earthquake insurance (DASK), noting that it will extend coverage to risks such as landslides, floods, storms, hail, avalanches, and forest fires.
However, Ece pointed out a critical gap in public awareness regarding insurance, stating that while over 23.3 million vehicles in Turkey are covered by mandatory traffic insurance—yielding a coverage rate of approximately 79.5%—over 6 million vehicles remain uninsured. In terms of earthquake insurance, only 58% of residential properties have coverage, leaving nearly 42% without protection.
Ece underscored the necessity of cultivating a stronger insurance awareness among the population, particularly concerning mandatory policies.
