As required by Decree Law on Compulsory Earthquake Insurance No. 587 published on 27.12.1999 in the Official Gazette and entered into force, independent sections within the scope of Property Ownership Law No. 634, buildings constructed as dwellings on registered in the land registry and subjected to private property, independent sections inside these buildings which are used as workplaces, offices and for similar purposes, as well as dwellings constructed by the state or state-given loans due to natural disasters are subject to Compulsory Earthquake Insurance, as from the date 27.09.2000. The guarantee of the Compulsory Earthquake Insurance is given by TCIP (Turkish Catastrophe Insurance Pool).
TCIP (Turkish Catastrophe Insurance Pool) guarantees the insurance fee against material losses directly incurred by earthquake as well as fires, explosions and landslides caused by earthquakes on insured buildings and their foundations (including those on the stairs, elevators, roofs and chimneys).
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