Probabilistic Assessment of Earthquake Insurance Rates for Turkey

Abstract

A probabilistic model is presented to obtain a realistic estimate of earthquake insurance rates for reinforced concrete buildings in Turkey. The model integrates information on seismic hazard and information on expected earthquake damage on engineering facilities in a systematic way, yielding to estimates of earthquake insurance premiums. In order to demonstrate the application of the proposed probabilistic method, earthquake insurance rates are computed for reinforced concrete buildings constructed in five cities located in different seismic zones of Turkey. The resulting rates are compared with the rates currently charged by the insurance companies. The earthquake insurance rates are observed to be sensitive to the assumptions on seismic hazard and damage probability matrices and to increase significantly with increasing violation of the code requirements.

Real-time identification of disaster areas by an open-access vision-based tool

“…Moreover, could be formulated a first guess for the cost of reconstruction in order to estimate if it is more convenient to repair or demolishing them, which would facilitate the operations for future reconstruction. Frequently the amount of money to be spent in order to repair or re-build a building is very high and such a cost could result not affordable by a citizen in the absence of an insurance coverage [11]. In Fig.…”

Successes and failures of compulsory risk mitigation: re‐evaluating the Turkish Catastrophe Insurance Pool

“…The probabilistic approach to calculate earthquake insurance premium rates is explained in detail by Yücemen (2005). The probabilistic approach to calculate earthquake insurance premium rates is explained in detail by Yücemen (2005).…”

“…The TCIP applies 15 tariffs, which are calculated using the degree of local vulnerability to earthquake hazard and the type of building to be covered. The probabilistic approach to calculate earthquake insurance premium rates is explained in detail by Yücemen (2005). Tariff rates are given in Table 2 according to five earthquake hazard zones and three types of buildings, namely, masonry, reinforced concrete and others.…”

An integrated earthquake vulnerability assessment framework for urban areas

“…5b, the MSK intensity for a return period of 475 years is about 7.5 for Odunpazari municipality. Based on the damage probability matrices developed for Turkey by Yucemen (2005), ''moderate'' building damage is expected in Odunpazari for this level of hazard from a probabilistic point of view. However, it is not possible to distinguish finer levels of damage since the aim of the probabilistic seismic hazard analysis, consistent with the lack of sufficient information on active faults, is to evaluate the distribution of seismic hazard all over the Eskisehir province, which has larger spatial coverage than the city center of Eskisehir province, at a macrolevel.…”

“…As a result the highest MDR is observed in this small neighborhood. In earthquake damage evaluation, the damage ratios between 10 and 50% are rated as moderate damage based on the damage probability matrices developed for Turkey by Yucemen (2005). Accordingly, all of the neighborhoods of Odunpazari municipality are expected to experience moderate damage due to this scenario earthquake.…”