The following tariff and instructions will be applied to the
Compulsory Earthquake Insurance plans in accordance with act number 587 "Governmental Decision of
Compulsory Earthquake Insurance".
| Class of Construction |
Zone I
%
|
Zone II
%
|
Zone III
%
|
Zone IV
%
|
Zone V
%
|
A. Skeleton of Reinforced Concrete and Steel |
2.00
|
1.40
|
0.75
|
0.50
|
0.40
|
B. Brick |
3.50
|
2.50
|
1.30
|
0.50
|
0.40
|
C. Other Buildings |
5.00
|
3.20
|
1.60
|
0.70
|
0.50
|
The insurance premium to be paid will be calculated according to the factors of the tariff, earthquake zones and type of structures indicated
in article number 3.
When earthquake zones differentiated, "The EQ Zone of Turkey" prepared by The Ministry of Public Works is used as the basis
of differentiation.
Description of Class of Constructions which rates are indicated above is as below:
A. Concrete Skeleton and Steel Buildings :
These buildings constructed from steel and concrete skeletons are made from reinforced concrete briquettes and the stairs
the floor and ceilings are made from concrete.
B. Brick Buildings :
These buildings do not have concrete skeleton, the carrier walls are made of unhewn stone, hewn stone, brick or reinforced/unreinforced
concrete briquettes and the stairs and ceilings are made of concrete.
C. Other Buildings : These buildings do not belong to other class of constructions.
| 2. Maximum Covered Amount : |
For all class of constructions, maximum amount covered by Compulsory Earthquake Insurance is
28 billion TL.
| 3. Determination of Sum Insured : |
When determining the sum insured, the following square meter rate defined by the construction class is multiplied
by the gross area (or the approximate area) of the building.
Under any circumstances, the sum insured of the building will not be greater than the maximum amount given in the article 2.
| Construction Class |
Square Meter Value (TL)
|
A. Concrete Skeleton and Steel Buildings |
210,000,000
|
B. Brick Buildings |
150,000,000
|
C. Other Buildings |
80,000,000
|
For each damage, 2% of the sum insured will be deductible from the payment.
Turkish Catastrophic Insurance Pool will be responsible for the amount that surpasses this percentage.
Every 72 hours period will be regarded as damage in accordance with the
deductible application.
Period of ýnsurance is 1(one) year.
| 6. Authorized Insurance Companies and Collection of Premiums : |
Compulsory Earthquake Insurance is realized by insurance companies and their agents that have authority to issue contracts
on behalf of the Turkish Catastrophic Insurance Pool.
These authorized insurance companies will collect the specified premium amount in advance.
| 7. Commission to be Paid to Authorized Insurance Companies : |
The insurance companies authorized to issue Compulsory EQ Insurance contracts on behalf of the Turkish Catastrophic Insurance Pool
will be paid a commission of 12.5% of the premium amount of insurance policy issued by them or their agents.
Any person or company except the Turkish Catastrophic Insurance Pool cannot issue complusory earthquake insurance policies.
However, if the appraised value of the independent areas or buildings that are insured by the Compulsory EQ Insurance exceeds
the amount of 20 billion TL, the excess amount can also be insured by the insurance companies
provided that the Compulsory EQ Insurance has already been realized.
These tariff and instructions are valid as of September 27, 2000.
