The amount of damages incurred by the insurance sector related to the 14-15 October flood disaster in Turkiye has reached at least TRY 11.46 billion (USD 229.2 million) as of October 26, from 9,738 claims filed, according to data from the Insurance Association of Turkiye.

The total outstanding claims amounted to TRY 11 billion while the amount of damages paid was TRY 463.53 million

By branch, fire insurance ranked first in terms of damages incurred with TRY 8.65 billion (75.5% share). Comprehensive vehicle insurance accounted for TRY 2.48 billion, while construction all-risk insurance saw an incurred loss of TRY 299.7 million as of October 26.

Source: Middle East Insurance Review.