Denial of post-flood bankruptcy claims from the Insurance Association of Turkey

The Insurance Association of Turkey announced that claims shared on some social media platforms regarding the bankruptcy of three insurance companies following the flash flood in Istanbul are baseless.

It was emphasized that the claims, which could cause public concern and negatively affect confidence in the sector, do not reflect the truth. It was stated that the Turkish insurance sector continues to manage the risks it undertakes, including natural disasters, and fulfill its obligations with its strong corporate structure, risk management capacity, and international reinsurance guarantees.

It was conveyed that the sector has mobilized its resources to receive damage notifications, conduct damage assessment processes, and deliver compensations to the rightful claimants following the flood disaster. Reminding that pursuant to Article 35 of the Insurance Law No. 5684, those who spread baseless news or damage the reputation of institutions will be penalized, it was emphasized that citizens should not rely on unofficial statements and should base their actions on announcements from authorized institutions such as SEDDK.