The Istanbul Chamber of Commerce (ITO) organised the panel titled ‘Earthquake Reality in Türkiye and Implementation Changes in Compulsory Disaster Insurance’ on 12 February 2025, aiming to raise awareness about the earthquake reality in our country and to provide information on compulsory disaster insurance.

The panel, which started with the opening speech of Mehmet Develioğlu, Vice President of the Executive Board of the Istanbul Chamber of Commerce, was chaired by Mehmet Özgür Yılmaz, President of the Insurance Profession Committee. Levent Korkut, Chairman of the TOBB Insurance Agencies Executive Committee (SAİK), Emine Feray Sezgin, Vice President of the SEDDK, Özgür Bülent Koç, DASK Coordinator, Prof. Dr. Şükrü Ersoy, Faculty Member at Yıldız Technical University, and Dr. Ceyhun Eren, Director of the Allianz Technical Test Centre and Risk Engineer, also participated as speakers in the panel.

“Although we cannot completely eliminate the negative effects of natural disasters, we have the ability to minimise them.”

Mehmet Develioğlu, who made the opening speech, said, “Unfortunately, 66% of our land is in the first- and second-degree earthquake zones, this is the reality of the country.” Along with the significant moral and social destruction caused by the earthquake disaster, it also brings many economic challenges. Of course, it is impossible to completely eliminate the negative effects of natural disasters. However, it is within our power to minimise these effects and accelerate the restructuring through the measures we take. The insurance mechanism is the most effective tool we can use to compensate for the damage caused by natural disasters.” he said, emphasising the importance of compulsory disaster insurance.

“The extent of the damages revealed the inadequacy of insurance coverage in the region.”

Mehmet Özgür Yılmaz, Chairman of the Insurance Profession Committee, referred to the Kahramanmaraş earthquake in his speech as the session chairman and said the following: “Since the first day of the earthquake, the entire sector has been involved in the process to heal the material wounds and fulfil its role. However, the extent of the damages revealed the inadequacy of insurance coverage in the region. We hope that in the future, as a society more aware of and prepared for earthquake risks, we will be able to face such challenges with minimal loss.

The panel continued with speeches by the speakers on the importance of earthquakes and earthquake insurance. The speeches frequently emphasised the earthquake risk in our country and the role of disaster insurance in providing protection against these risks.

Asst. Prof. Dr. Tilda Tanilyan Sürer, Head of the Banking and Insurance Programme at Istanbul Beykent University, and her students, who attended the panel as audience members, had the opportunity to gain comprehensive insights into earthquake and disaster insurance, as well as innovative approaches within the insurance sector.