Help

BI’s Article search uses Boolean search capabilities. If you are not familiar with these principles, here are some quick tips.

To search specifically for more than one word, put the search term in quotation marks. For example, “workers compensation”. This will limit your search to that combination of words.

To search for a combination of terms, use quotations and the & symbol. For example, “hurricane” & “loss”.

Login Register Subscribe

Future quake could cause $120 bn damage in Turkey

Reprints

Ugur Gulen, general manager at Turkish insurer Aksigorta A.S., said that a huge earthquake that is expected to hit Istanbul in the coming several decades could result in damage worth $120 billion, reported Today's Zaman citing Hurriyet Daily News.

Only around a quarter of the projected damage is expected to be insured, said Mr. Gulen.

Losses from the quake would amount to 11% to 15% of Turkey's gross domestic product.

Only 7.1 million of the 17.6 million homes in the nation are currently covered by mandatory quake insurance.

Read more