Turkey Natural Disaster Insurance Institution operations

The Natural Disaster Insurance Institution (DASK) in Turkey has undergone regulatory updates and significant operational growth. To manage its funds, the Insurance and Private Pension Regulation and Supervision Agency (SEDDK) introduced new rules requiring the technical operator to report expenditures exceeding certain thresholds four times a year. These regulations prioritize asset diversification, liquidity, and low principal risk, allowing for long-term portfolios if fund totals meet specific liability criteria.

Marking its 26th year of operation since its establishment on September 27, 2000, DASK has provided earthquake insurance for 11,710,514 homes. The institution has processed 891,774 damage reports resulting from 1,403 earthquakes, completing payments for 701,696 files. Total damage payments have exceeded 42 billion TL (approximately 2 billion USD).

Supported by state backing and international reinsurance, DASK’s current fund size has reached 30 billion TL, which the institution states provides sufficient capacity to cover the damages from two large-scale earthquakes within a single year. Recent developments have focused on technological advancements and digital integration. DASK has implemented a common data model and strengthened integrations with the National Address Database, the e-Devlet platform, and the General Directorate of Land Registry and Cadastre. These improvements aim to automate insurance checks during utility subscriptions and real estate transactions, while standardizing post-earthquake damage assessment methodologies alongside the Ministry of Environment, Urbanization and Climate Change.