19.10.2026 17:23
The Insurance Association of Türkiye announced that the claims on social media that three insurance companies went bankrupt following the flood disaster in Istanbul are unfounded. The Association stated that the sector has fulfilled its obligations and that damage compensations will be delivered to the rightful claimants.
A statement was made by the Turkish Insurance Association regarding unfounded claims against the insurance sector.
DENIAL OF THE CLAIM THAT INSURANCE COMPANIES HAVE GONE BANKRUPT
Following the flood disaster that occurred in Istanbul, a statement was made by the Turkish Insurance Association in response to untrue claims on some social media platforms that three insurance companies had gone bankrupt. The statement made by the Turkish Insurance Association included the following statements:
“The claims in question, which may cause public concern and may adversely affect trust in the insurance sector, are unfounded. The Turkish insurance sector, with its strong institutional structure, risk management capacity and international reinsurance guarantees, manages the risks it assumes, including natural disasters, and continues to fulfill its obligations to its policyholders. Following the flood disaster in Istanbul as well, our sector has mobilized all its resources to receive damage notifications, carry out damage assessment processes and deliver compensation within the scope of policy coverage to beneficiaries as soon as possible.
Pursuant to the seventh paragraph of Article 35 of the Insurance Law No. 5684, it is provided that those who intentionally cause a matter that may harm the reputation or assets of organizations subject to this Law, or who spread false news to that effect, shall be punished. In addition, even if the names of these organizations are not specified, the dissemination through the internet, radio, television or other electronic communication and broadcast media of false news of a nature that may create public doubt about their reliability and adversely affect their financial structures has also been subject to criminal sanction under the Law.
“OFFICIAL STATEMENTS SHOULD BE TAKEN AS THE BASIS”
We kindly request our citizens not to give credence to misleading posts that are not based on any official source and that target the reliability of our sector. In evaluating information regarding the activities and financial status of insurance companies, it is of great importance that the official statements of authorized institutions and relevant companies, particularly the Insurance and Private Pension Regulation and Supervision Agency (SEDDK), be taken as the basis. As the Turkish Insurance Association, we would like to state that we closely follow posts of a misleading nature and will take the necessary initiatives to protect the reputation of our sector and the rights of our policyholders. Our insurance sector, as always, continues resolutely today to stand by our citizens and businesses and to fulfill its responsibilities.”