During the recent years, after 2010, the Turkish authorities decided that, in order to increase the level of protection through compulsory earthquake insurance, a change of legislation was required.

"The compulsory earthquake reinsurance system began in the year 2000 and, after 12 years of activity the regulation was renewed", Ahmet GENC, Turkish Treasury Undersecretary General Director of Insurance said during the 6th International Istanbul Insurance Forum.

"One of the most important targets was to increase the number of control points for the existence of the policy. In the past, the only one was when a house was being bought or sold. We also introduced water and electricity contracts as checkpoints. Implementing this, the number of policies increased to the current figure of 6.6 million", he added.

The catastrophe insurance law has come into force in Turkey in August 2012 and it was beneficial for the development of the TCIP - Turkish Catastrophe Insurance Pool by introducing the obligation to have an active policy in order to close a contract for home utilities. As a result, the number of policies sold increased by 65%.