Turkey observes 15th Insurance Week amid rising climate risks

The 15th Insurance Week has commenced in Turkey, running from October 5 to 11. Organized by the Insurance Association of Turkey (TSB), this year’s theme is ‘Four Elements. One Assurance,’ focusing on the risks associated with earth, water, air, and fire.

TSB President Ahmet Yaşar emphasized that while the nature of risks is changing due to climate events and shifting lifestyles, the fundamental need for insurance as a mechanism of solidarity remains constant. He noted that insurance helps individuals and institutions prepare for uncertainties and ensures the continuity of production and life following losses.

M. Rifat Hisarcıklıoğlu, President of the Union of Chambers and Commodity Exchanges of Turkey (TOBB), highlighted that climate change has transformed natural disasters into a global transformation factor affecting growth strategies and economic development. He stated that the Turkish insurance sector serves as a protective shield, supporting green investments and sustainable agriculture through its strong financial structure and technological infrastructure.

Economic data released by TÜIK shows that for the first nine months of the year, general insurance inflation rose by 17.09%. Specifically, housing insurance saw a nine-month increase of 21.89%, while automobile insurance increased by 17.49%.