The insurance pool against disasters in Turkey has a coverage rate of only 7% in the Van province, which was hit by a strong earthquake on Sunday, October 23rd.

The Pool was established in 2000, after the Kocaeli and Duzce earthquakes, and now covers about 23% of total number of households in Turkey and 40% of those in areas with high risk of earthquake. In total, there were completed approximately 3.5 million insurance policies.

The 7.2 magnitude earthquake on Sunday in Eastern Turkey has killed 366 people and injured other 1,300, according to a new interim report announced Tuesday, October 25th, by the Official Department for emergency situations.

Natural disasters modeling agency AIR Worldwide estimated the amount of insured damages to a value between EUR 40 and 125 million.

More news and statistics about Turkish insurance market.