Failure to renew the mandatory earthquake insurance contract on time

In this thesis work, we aimed to explain the historical development of compulsory earthquake insurance in Turkey and the importance of this insurance. The rights and obligations of the parties to the compulsory earthquake insurance contract policy and its mandatory elements are explained. The audit mechanisms foreseen for the implementation and renewal of compulsory earthquake insurance are emphasised. It is analysed whether the control mechanisms regarding the renewal of the compulsory earthquake insurance contract are sufficient for Turkey, which is located in an earthquake zone. In the event that the compulsory earthquake insurance contract is not renewed on time and the risk is realised, it is emphasised whether a liability arises for DASK (Turkish Catastrophe Insurance Pool (the TCIP)). In case the compulsory earthquake insurance contract linked to the housing loan is not renewed on time, the liability of the lending institution is examined. In determining the indemnity to be paid upon the realisation of the risk, it is examined whether there is a need for an addendum to the compulsory earthquake insurance contract.