The second day of the International Insurance Fair and Congress hosted a panel titled "The Role of Urban Transformation in Disaster Management". During the panel moderated by SEDDK Vice President Mehmet VERIM, top TSB representatives Ahmet YAŞAR, Vice President and Atilla Oksay, Deputy General Manager, as well as KENTHAŞ General Manager Özcan BIÇER and Assoc. Prof. from Marmara University. Dr. Özgür AKPINAR shared their views on the way urban transformation should consider all issues related to disaster management and mitigation.

Highlighting the necessity of earthquake-resistant homes in Turkey, Ahmet Yaşar, Board Member of TSB, emphasized that this imperative extends to all realms of insurance. Discussing the building completion insurance introduced in 2014, he explained, "We firmly believe that urban transformation cannot progress without building completion insurance. It is an indispensable component for urban renewal. Relying solely on the assurances offered by banks is insufficient; an ecosystem involving the insurance industry is essential in this regard. The intricacies of such a technical matter require adept management of the process. Insurance companies play a vital role in meeting this need," he added.

The imperative is to construct cities that can withstand all forms of natural disasters. Discussing global mega trends, Atilla Oksay, Deputy General Manager of TSB, underscored that the most significant among these trends is the risks arising from climate change. He stated, "Between 2013 and 2022, the compensation paid by insurance companies due to natural disasters surged by approximately 1500 percent. In today's world, where disasters have such extensive reach, a comprehensive approach is indispensable. Our goal is to create cities resilient not only to earthquakes but to all natural disasters. The insurance industry has demonstrated notable success globally in both the construction and ongoing phases of buildings. It is crucial for us to incorporate these practices. Here, we must leverage both the assurance and risk prevention aspects offered by insurance companies," he emphasized.

Providing insights into the urban transformation process in Turkey during the panel discussion, Özcan Biçer, General Manager of KENTHAŞ, highlighted that only one-third of at-risk buildings have been addressed since 1999, with 400 thousand urban transformation projects currently underway. The transformation process is ongoing. Emphasizing the necessity of collaboration with the insurance sector in this context, Özcan stated, "Building completion insurance holds significance in this regard. The sector's robust infrastructure and effective risk management are crucial here." Additionally, he noted the need for diverse financial instruments beyond building completion insurance.