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Insurers have set aside 1,904,994,494 lira in outstanding claim reserves for 2,379 damage files caused by heavy rain and flooding in Istanbul and five other provinces, the Turkish Insurance Association said.

The reserves cover fire insurance and motor own-damage (casco) policies in Istanbul, Kocaeli, Antalya, Yalova, Bursa and Sakarya, according to information the Anadolu Agency obtained from the association. As of today, no payments had been made under casco policies, while some fire claims have been settled.

Reserves split between fire and casco branches

Fire insurers allocated 1,559,243,468 lira across 1,638 files, while casco insurers reserved 345,751,026 lira for 741 files, the association's figures show.

In the fire branch, the largest reserves were 1,389,248,957 lira for Istanbul and 164,255,778 lira for Kocaeli. Istanbul also led the casco branch with 311,801,281 lira set aside.

2,453 claims reported, first payments made

A total of 2,453 damage notifications were filed under flood and water damage cover in the two branches. The fire branch received 1,703 reports and the casco branch 750.

Thirteen fire claims have been paid so far for a combined 389,535 lira. Casco claims have not yet been paid, the association said, as of today.

Istanbul leads claim notifications

Istanbul recorded the highest number of fire insurance reports at 1,486, with 12 files paid 382,886 lira as of today. Within the city, 11 of 821 claims in the private segment were paid 378,263 lira, and one of 563 commercial claims was paid 4,623 lira. No payments have been made on 102 industrial claims.

Kocaeli logged 179 fire claims and paid 6,649 lira on one file, with that payment falling in the private segment. Industrial and commercial claims in Kocaeli remain unpaid. Fire notifications also came from Yalova (18), Antalya (14) and Bursa (6).

In the casco branch, notifications were reported from Istanbul (670), Kocaeli (35), Antalya (35), Sakarya (9) and Yalova (1), while Bursa filed none. None of these claims has been paid yet.

Policy base in the affected provinces

As of today, there were 5,219,528 active policies with flood and water damage cover in the fire and casco branches across Istanbul, Kocaeli, Antalya, Yalova and Bursa, according to the association.

Key takeaways

• Outstanding claim reserves for flood and water damage reached 1,904,994,494 lira across 2,379 files in six provinces.
• Fire insurers reserved 1,559,243,468 lira and casco insurers 345,751,026 lira.
• 2,453 claims were reported; 13 fire claims were paid 389,535 lira, while casco payments have not started.
• Istanbul led both claim reports and reserves, with 1,486 fire notifications and 1,389,248,957 lira set aside.