The Turkish Catastrophe Insurance Plan ( TCIP ) is offering up to $ 100 m of collateralised earthquake reinsurance coverage from its new Bosphorus 1 ( Series 2015 - 1 ) parametric catastrophe bond , thereby providing the company with per - year reinsurance coverage for a slightly more risky layer of its programme , since the bond has a higher attachment probability than its previous Bosphorus .
The Turkish Catastrophe Insurance Pool (TCIP) is targeting up to $200m of collateralised earthquake reinsurance protection from its new Bosphorus Ltd (Series 2015-1) parametric catastrophe bond, thereby providing the insurer with per-occurrence reinsurance coverage for a slightly more risky layer of its programme, since the deal has a higher attachment probability than its previous Bosphorus.