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Türkiye Sigorta Birliği denies insurance bankruptcy rumors after Istanbul floods
Following severe flooding in Istanbul, the Türkiye Sigorta Birliği (TSB) has issued a formal denial regarding social media rumors claiming that three insurance companies have gone bankrupt. The TSB emphasized the sector's strong financial structure and warned that spreading false information to damage the reputation of insurance institutions is a criminal offense under Law No. 5684.
Government officials have announced various relief measures. Istanbul Governor Davut Gül reported that approximately 50 million TL has been distributed to 4,850 affected individuals, including an emergency payment of 10,000 TL per citizen. Additionally, Trade Minister Ömer Bolat announced 80 million TL in cash support for local tradespeople impacted by the disaster.
Insurance experts have provided guidance on coverage. While 'kasko' (comprehensive) policies typically cover flood damage to vehicles if specifically included, compulsory traffic insurance does not cover a policyholder's own vehicle damage from floods. Similarly, DASK (compulsory earthquake insurance) does not cover flood or water inundation damage to homes; residents are advised to maintain separate housing or business insurance for such risks. Experts urge victims to document all damage with photos and videos before beginning any cleanup or repairs to facilitate the claims process.
Entities
AFAD · DASK · Davut Gül · Istanbul · Istanbul Governor's Office · SEDDK · Turkey Insurance Association · Türkiye Sigorta Birliği · Yakup Göktaş · Ömer Bolat
Claims
What the coverage asserts, and how many sources carry each claim.
- [● 7 SOURCES] The Türkiye Sigorta Birliği (TSB) denied social media claims that three insurance companies went bankrupt due to the Istanbul floods. www.takvim.com.tr · sigortacigazetesi.com.tr · www.izgazete.net · www.tv5.com.tr · www.yorumla.net · +1 more
- [● 7 SOURCES] Spreading false news that damages the reputation or financial standing of insurance companies is subject to criminal penalties under Law No. 5684. www.takvim.com.tr · sigortacigazetesi.com.tr · www.izgazete.net · www.tv5.com.tr · www.yorumla.net · +1 more
- [● 4 SOURCES] DASK (Compulsory Earthquake Insurance) does not cover damage caused by floods or water inundation in homes or businesses. kayseriulkergazetesi.com · www.f5haber.com
- [● 3 SOURCES] Istanbul Governor Davut Gül announced that approximately 50 million TL has been paid to 4,850 people affected by the floods. www.bursahakimiyet.com.tr · www.f5haber.com · www.cnbce.com
- [○ 1 SOURCE] Search operations continue for four missing persons following the floods. www.bursahakimiyet.com.tr
- [● 5 SOURCES] Compulsory traffic insurance does not cover flood damage to the policyholder's own vehicle; coverage requires a kasko policy with specific flood clauses. www.hamlegazetesi.com.tr · kayseriulkergazetesi.com · www.turkgun.com · www.sozcu.com.tr
- [● 3 SOURCES] The Türkiye Sigorta Birliği (TSB) advised that documenting damage with detailed photos and videos before cleaning or repairing is critical for the insurance claim process. www.yeniyolgazetesi.com · www.bloomberght.com · www.haberaktuel.com
- [○ 1 SOURCE] In Ayazağa, Governor Gül stated that 10,000 TL in emergency aid was provided to each affected citizen regardless of their specific damage assessment. www.cnbce.com
- [○ 1 SOURCE] Trade Minister Ömer Bolat announced that 80 million TL in cash support will be provided to tradespeople affected by the floods in Istanbul. www.cnbce.com