Today’s issue of the Official Gazette included a decision that technically concerns all vehicle owners. The decision titled “Regulation on Amendments to the Regulation on Tariff Implementation Principles in Highways Motor Vehicles Compulsory Liability Insurance” reveals that some citizens will no longer have difficulty in obtaining compulsory traffic insurance.
Insurance companies cause problems with some of the vehicles for which they provide compulsory traffic insurance and refrain from making offers. The reason for this is that some vehicles have much higher damage frequencies than others. The decision published in today’s issue of the Official Gazette prevents a citizen from experiencing problems in this situation. Insurance and Private Pension Regulation and Supervision Agency (SEDDK) will determine the premium for vehicles for which bids cannot be made. In this way, the vehicle will be prevented from traveling in traffic without insurance.
The decision includes the following statements:
“The Board is authorized to decide whether the vehicles of operators who cannot receive an insurance premium offer within the scope of this Regulation within the specified period will be included in the Pool, regardless of their group, and the maximum premium amounts to be applied to them.”
ARTICLE 2- This Regulation shall enter into force on the date of its publication.
ARTICLE 3- The provisions of this Regulation shall be enforced by the President of the Insurance and Private Pension Regulation and Supervision Agency.
The government established the “Risky Insured Pool” with the decision of the Regulation on Amendments to the Regulation on Tariff Application Principles in Highways Motor Vehicles Compulsory Liability Insurance, published in the Official Gazette in 2017. This pool distributed vehicles with high damage frequencies not to a single insurance company, but to multiple companies. In this way, the high financial risk arising from vehicles in this category was shared. The decision taken today will make things easier for both insurance companies and citizens who own vehicles with high damage frequency.
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