13.12.2024 11:42
A new era is beginning in mandatory traffic insurance. Changes regarding mandatory traffic insurance have been published in the Official Gazette. Accordingly, in 2025, a series of new rules and regulations will be introduced to regulate the relationship between insurance companies and consumers.
Changes regarding mandatory traffic insurance have been published in the Official Gazette. Accordingly, starting from January 1, 2025, the maximum premiums to be applied will be increased by 10% for taxi, minibus, bus, truck, and tow truck groups, and by 5% for other vehicle groups, compared to the maximum premiums applied in December 2024.
DISCOUNT ON DISABLED PREMIUMS
According to the provisions of the "Regulation on Issuing Identity Cards to Disabled Individuals and Establishing a National Disabled Data System," a discount of up to 20% will be applied to the premiums of insurance contracts to be arranged for individuals registered in the National Disabled Data System.
According to the Official Gazette, the 2nd article of the regulation will come into force on December 5, 2024; the 3rd and 6th articles of the regulation will come into force on January 1, 2025. Other provisions of the regulation have come into force as of the date of publication.
MINIMUM WAGE DETAIL IN INSURANCE CANCELLATION
In the event of cancellation of the traffic insurance policy, the amount of premium to be paid to the insurance company will not be less than 2% of the valid minimum wage on the date the policy is terminated. 80% of this premium has been determined as the agency commission, and fractional calculations will be rounded up to the next whole number.
INCREASE IN COMPENSATION AMOUNT FOR ACCIDENTS
Additionally, the guarantees for material and moral damages occurring at the time of the accident have been increased. The material guarantees provided per vehicle for Motor Vehicle Owners have been raised to 200,000 lira, and other insurance guarantees have also been increased to provide broader coverage. The new regulation aims to provide more security under traffic insurance.
The regulations included in the regulation published in the Official Gazette are as follows:
ARTICLE 1 – A new paragraph has been added to Article 4 of the regulation:
"(10) The Institution may implement a discount of up to 20% on the premiums of insurance contracts to be arranged for individuals registered in the National Disabled Data System according to the provisions of the Regulation on Issuing Identity Cards to Disabled Individuals and Establishing a National Disabled Data System published in the Official Gazette dated 12/5/2023 and numbered 32188."
ARTICLE 2 – The third sentence in the first paragraph of Article 11 of the regulation has been repealed.
ARTICLE 3 – The temporary Article 9 of the regulation has been amended as follows:
"TEMPORARY ARTICLE 9- (1) In the event of termination of the insurance policy within the framework of the relevant legislation, the premium accrued to the insurance company cannot be less than 2% of the gross minimum wage valid on the date the policy is terminated. 80% of this premium is accrued as the agency commission. In this calculation, fractional amounts are rounded up to the next whole number."
ARTICLE 4 – A new sentence has been added to the second paragraph of the temporary Article 11 of the regulation, and the existing fourth sentence has been amended. Additionally, a new paragraph has been added to the article:
"In the event that the damage cost index change rate is below zero, the said rate is considered as zero."
"The Board is authorized to reduce the increase rate determined for January, February, March, and April 2024 to zero or to increase it up to two times, taking into account the damage frequency, damage costs, and other relevant issues, and to additionally increase it by up to 2% on a vehicle group and step basis."
"(16) The maximum premiums that will be valid from 1/1/2025 will be applied by adding 10% for taxi, minibus (10-17 seats including driver), bus (18-30 seats including driver), bus (31 seats and above including driver), truck, and tow truck groups, and 5% for other vehicle groups to the maximum premiums applied in December 2024."
ARTICLE 5 – Tables 13 and 14 included in the annex of the regulation have been renewed. Additionally, new tables have been added to come after Table 16. The existing expression "Footnotes for Table 9, 10/A, 11, and 15" has been changed to "Footnotes for Table 9, 10/A, 11, 15, and 17."
ARTICLE 6 – Changes have been made in Annex-4 of the regulation. In this context, the first sentence of the first paragraph of Article 1 and Article 3 have been reorganized, and a new temporary article has been added:
"All vehicle groups in steps 0, 1, 2, and 3, as well as taxi, minibus (10-17 seats including driver), bus (18-30 seats including driver), and bus (31 seats and above including driver) types in steps 4, 5, 6, 7, and 8 are within the pool scope."
"Article 3: Premium and Damage Sharing
(1) The premiums and paid damages related to the policies within the pool scope are distributed among insurance companies based on their share of traffic insurance premiums for the relevant month. This share is calculated at the end of each month and used in the share distribution for that month."
"Temporary Article 1: Premium and Damage Sharing for the Period Until 1/1/2025
(1) The premiums and paid damages related to the policies within the pool scope arranged between 12/4/2017 and 31/12/2024 (inclusive) are distributed among insurance companies in two stages. 50% of the premiums and damages are distributed equally among insurance companies, and the remaining 50% is distributed based on the share of traffic insurance premiums received by the insurance companies in the last 3 years. This rate is determined at the beginning of each year and remains fixed throughout the year. For the year 2017, this share is calculated based on the traffic insurance premiums for the period between 1/1/2014 and 12/4/2017."
The effective dates of the regulations in the regulation have also been determined. Accordingly, Article 2 will be valid from December 5, 2024. Articles 3 and 6 will come into force on January 1, 2025. Other provisions have come into force as of the date the regulation was published in the Official Gazette.