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The legal area, regulated by Law No. 5684 on Insurance, establishes a legal framework for insurance activities carried out by insurance companies, agents, brokers, experts, appraisers, and parties to insurance contracts. The purpose of the law is to provide a legal basis for insurance activities, regulate relationships in insurance contracts, and determine procedures and principles related to insurance activities.
The Highway Traffic Law regulates insurance types such as compulsory motor vehicle insurance for motor vehicles. These insurances are mandatory to cover damages to third parties resulting from accidents in road traffic.
Insurance law encompasses insurance contracts, regulations related to insurance activities, insurance types, rights and obligations of insurers and parties to insurance contracts, insurance premiums, compensations, insurance agents, brokers, appraisers, and other related topics. Particularly, there are specific provisions regarding the conclusion, implementation, and termination of insurance contracts.
In Turkey, there are various insurance types including compulsory traffic insurance. Compulsory traffic insurance provides coverage for damages that may occur to third parties as a result of motor vehicle accidents. This type of insurance is mandatory and one of the required documents for the use of motor vehicles in traffic. Other insurance types include vehicle comprehensive insurance, fire insurance, earthquake insurance, life insurance, health insurance, and various other areas.
Specialized insurance policies are insurance policies prepared for specific purposes or risks, excluding general insurance policies. These policies are based on the contractual relationship between the insurance company and the customer.
In Turkey, specialized insurance policies are generally prepared for specific risks. These policies include workplace insurance, cargo transportation insurance, health insurance, personal accident insurance, and engineering insurance, among others.
In the preparation and implementation of specialized insurance policies, certain standards are applied between insurance companies and customers in Turkey. These are documents called special insurance conditions that vary for each insurance policy. These conditions are crucial for insurance companies to manage risks and protect the rights of customers. Additionally, the insurance sector in Turkey is regulated by the Capital Markets Board (SPK) which oversees the activities of insurance companies and takes necessary measures to protect the rights of consumers.
Traffic accidents are an important issue in insurance law. Vehicles or individuals affected by these accidents can claim compensation from insurance companies. However, insurance companies may reject these claims, leading to disputes and the search for a resolution.
The official institution established for the resolution of insurance disputes arising from traffic accidents in Turkey is the Insurance Arbitration Commission. The Insurance Arbitration Commission is responsible for resolving insurance disputes arising from traffic accidents. This commission assists in the resolution of disputes between insurance companies and consumers.
To apply to the Insurance Arbitration Commission, it is necessary to obtain a written document containing the rejection of the compensation claim by the insurance company. Along with this document, related documents about the accident, insurance policy, identification documents, and a petition should be submitted to the Insurance Arbitration Commission.
Applications made to the Insurance Arbitration Commission are examined once the commission enters the resolution process, and the opinions of the parties are taken into account. After the necessary examinations, the Insurance Arbitration Commission notifies the parties of its decision. This decision is final and cannot be appealed.
In the resolution of insurance disputes arising from traffic accidents, there are alternative methods besides the Insurance Arbitration Commission. For example, parties can initiate a mediation process through mutual agreement. In this process, a neutral mediator tries to facilitate an agreement between the parties. However, if an agreement cannot be reached through mediation, it is necessary to resort to the Insurance Arbitration Commission.
Insurance law also includes regulations regarding the monitoring and supervision of institutions and individuals engaged in insurance activities such as insurance companies, insurance agents, and brokers. These regulations aim to ensure that insurance activities are carried out effectively, fairly, and transparently.
