American risk modeling company Verisk estimated on Tuesday that economic losses related to the February 6 earthquakes that shook Turkey and Syria will exceed $20,000 million.
Verisk estimates the insurer’s insured losses to be around $1 billion, noting that there is a significant difference between economic and insured losses “represents the cost of disasters to society.”
To estimate the costs assumed by the insurers, the company took into account the physical damage caused by the seismic impact on the structures and the interior of the buildings and the interruption of business, in both cases covered by these services.
In the note, company president, Bill Churney, He reminded that a large part of the costs of disasters are borne by governments, and in this sense he assessed that “by increasing the penetration of insurance, part of the burden can be alleviated”.
“Solutions are available that can improve global resilience efforts, including emergency management, risk mitigation, public disaster financing, risk pooling and other government initiatives to mitigate risk and loss,” Churney said.
Tragedy
Two strong earthquakes that destroyed the southeast of turkey They left at least 35,418 dead and 105,000 injured in this country, according to the latest government figures, while survivors are still among the remains of tens of thousands of destroyed buildings.
About 13,000 people are still hospitalized, according to the data The president of the country, Recep Tayyip Erdoganin a new disaster data update following the Executive Board meeting.
Survivors are still found among the ruins today, such as a father and daughter who were found alive in the city of Hatay, after being trapped for 209 hours.
Two women were also rescued today after spending 204 and 205 hours, respectively, trapped in the remains of collapsed buildings in Kahramanmaras, where the first earthquake occurred, and in Hatay.
Already this morning, two young people were rescued after 198 hours trapped below debris in Kahramanmaras.
Risklayer, a German risk analysis firm, warned that the final death toll could be between 75,000 and 90,000, although some Turkish experts put the death toll at as high as 155,000.
Erdogan pointed out that 47,000 buildings were destroyed due to two earthquakes, magnitude 7.7 and 7.6, which shook ten provinces of Turkey last Monday, the 6th, on an area of about 100,000 square kilometers.
Approximately 15 percent of the thirteen million inhabitants of the most threatened area moved to other regions with their own funds, the head of state said, and 1.3 million of them were resettled in public buildings and hotels, as well as in prefabricated houses donated by Qatar.
He also announced that banks and some large companies will donate part of their profits for 2022 to mitigate the consequences of the disaster. At the moment, he said, the banking sector contributed around 2.4 billion euros.
MRThe Turkish government already announced last week that 5.3 billion dollars in emergency aid will be allocated to these regions.
Erdogan called for solidarity and unity in the country, which is holding decisive elections on May 14 in a highly polarized environment between critics and supporters of the president who has been in power for twenty years.
Erdogan assured that 98% of the buildings that collapsed were built before 1999, although the College of Architects indicated that the president himself ordered the legalization of tens of thousands of buildings erected without permits as part of his 2018 election strategy.
“We can start building 30,000 homes at the beginning of March,” Erdogan said today.
Source: Panama America
I am Amelia James, a passionate journalist with a deep-rooted interest in current affairs. I have more than five years of experience in the media industry, working both as an author and editor for 24 Instant News. My main focus lies in international news, particularly regional conflicts and political issues around the world.
