Business · Companies · 14 hrs ago
Turkish insurers’ association denies claims that three companies went bankrupt
After flooding in Istanbul, social media posts claimed that three insurance companies had gone bankrupt.
The Turkish Insurance Association said the claims were false and said the sector can manage its risks, including those from natural disasters.
It did not name the companies discussed in the posts.
Insurers are taking damage reports and assessing losses from the floods, and say they are working to pay claims covered by policies as quickly as possible.
The association warned that Turkish law allows penalties for knowingly spreading false reports that could harm an insurer’s reputation or finances.
It urged people to check official statements from regulators and companies when assessing insurers’ finances.
The association said it is monitoring misleading posts and will take steps to protect policyholders’ rights and the sector’s reputation.
The Turkish Insurance Association said claims that three insurance companies had gone bankrupt after flooding in Istanbul were false.
The claims had circulated on some social media platforms, the association said.
It said insurers were handling damage reports and assessments and working to pay eligible claims as soon as possible.
The association urged the public to rely on official statements from regulators and companies about insurers’ operations and financial condition.
It warned that spreading certain false reports about regulated institutions can carry criminal penalties under Turkey’s Insurance Law.
- Who
- The Turkish Insurance Association issued the statement. The claims concerned three unnamed insurance companies.
- What
- The association denied social media claims that the three companies had gone bankrupt.
- When
- The statement was reported on October 17, 2026.
- Where
- The claims followed flooding in Istanbul.
- Why
- Not stated
Social media claimants
Turkish Insurance Association
Accuracy of bankruptcy claims
Social media claimants
The posts claimed that three insurance companies had gone bankrupt.
Turkish Insurance Association
The association said the claims were false.
Claims that three insurance companies had gone bankrupt appeared on some social media platforms.
The Turkish Insurance Association said the claims were false and described insurers’ response to damage reports and claims.
- Companies named
- Three insurance companies; the association did not identify them
- Location
- Istanbul
- Reported date
- October 17, 2026
- Law cited
- Article 35, paragraph 7, of Insurance Law No. 5684
- Regulator
- Insurance and Private Pension Regulation and Supervision Agency (SEDDK)
4 sources
What people are saying
We are closely monitoring posts that mislead the public and will take the necessary steps to protect our sector’s reputation and the rights of our insured.
Our insurance sector remains determined, as always, to stand by citizens and businesses and fulfil its responsibilities.