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The Bill, which includes the amendment in the Traffic Law, was passed in the

General Assembly of the Grand National Assembly of Turkey and became a law

The Bill, which includes the amendment in the Traffic Law,
was passed in the General Assembly of the Grand National
Assembly of Turkey and became a law. Insurance Associa-
tion of Turkey stated that is a result of the intense efforts
of the SEDDK management staff and experts, they were
happy that citizens were able to receive their traffic in-
surance-related compensation in a more transparent and
faster process, and that an important uncertainty against
the insurance sector was eliminated.

The Bill of Law, which includes the determination of the
criteria regarding the compensation payment procedures
and principles in the “compulsory financial liability insur- litigation in our courts will be prevented with this insurance
ance” within the framework of the Highway Traffic Law, product. Thus, our citizens will not wait for many years to
and the reorganization of the issues outside the scope of the receive their claims. The beneficiaries will know the insur-
compulsory liability insurance, was accepted at the General ance claims they will receive without the help of anyone.
Assembly of the Grand National Assembly of Turkey and Our industry will now be able to see its future more clearly
became a law. and thus focus more on its role in the economic develop-
ment of our country. Our insurance industry will continue
Standardization was achieved with the determination of to stand by our citizens, as it was before, together with all
the criteria regarding the calculation procedures and prin- its stakeholders, especially our regulatory and supervisory
ciples of compensations within the scope of traffic insur- institution SEDDK.”
ance by the Law. In addition, the situations that are not
covered by the policy have also become regulated. In this Atilla Benli: Everything is now regulated for traffic insur-
way, a predictable environment was provided for the right ance
holders, the judiciary, and insurance companies. Atilla Benli, Chairman of TSB, pointed out that the insur-
ance industry, which has maintained its steady growth for
Claims will be taken quickly, courts will be relaxed 20 years, has succeeded in being among the most important

stakeholders of Turkey’s financial system. He also added
With the new regulation, the issue of how to calculate bod- that: “As insurance develops, our country’s economy is get-
ily claims in traffic insurance, which is one of the biggest ting stronger. We are happy that the uncertainty arising
uncertainties of the Turkish insurance industry, has been from traffic insurance which is an obstacle against our in-
bound to standard and transparent criteria. surance sector has disappeared. I would like to express my
gratitude to all SEDDK management, who worked day and
TSB drew attention to the importance of the law change night and followed closely in this process, to the Members
for the sector and stated that: “After the cancellation of the Board of Directors and Management Committee,
decisions of the Constitutional Court in Articles 90 and who kept the issue on the agenda of different channels and
92 of the Highway Traffic Law, there were non-standard the Assembly, to the valuable managers of our companies,
practices in the Compulsory Traffic Insurance branch, es- to our stakeholders, and to the valuable deputies of the
pecially with the uncertainties about bodily compensation. Parliament who were determined to apply the truth in fa-
These practices created a caseload on the courts. The law vor of the citizens. In traffic insurance, everything is now
amendment will make transparent and rapid payment of regulated; both our policyholders and our industry will now
compensations possible to beneficiaries, and the burden of be able to see the future more clearly.”