Page 16 - Turkinsurance Digital Magazine
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pant with BES purchases health insur- The Bill, which includes the amendment DK, the regulatory agency of the sector,
ance, we expect an additional incentive in the Traffic Law, was passed in the has yielded results. Proposal to Amend
to be offered in addition to the existing General Assembly of the Grand Nation- the Laws Regarding Insurance, which
advantages for these two products. These al Assembly of Turkey and became a law. includes determined, of the criteria re-
additional incentives, which are expected How do you interpret this development in garding the compensation payment pro-
to be offered, will increase the attractive- the field of traffic and its benefits to the cedures and principles in the "compulsory
ness of insurance products such as life, sector? financial liability insurance" within the
health, and education together with the framework of the Highway Traffic Law,
individual pension contract. Before 2015, the non-standardization and the reorganization of the issues out-
of compensation calculation methods side the scope of the compulsory liabili-
Innovations were also made about fund in compulsory traffic insurance caused ty insurance, was dated June 09, 2021,
changes in BES. What are the reasons problems in practice and caused the right accepted at the General Assembly of the
for this step and what are the benefits holders to suffer. Grand National Assembly of Turkey and
for the participants? became a law on 6/9/2021.
“Robotic applications,
It was stated that thanks to the proactive As stated in the Decision of the Consti-
approach of our sector, our participants which have gained tutional Court, the criteria regarding the
increased the use of their right to change popularity recently, and calculation procedures and principles of
the distribution of funds, and regulation compensations within the scope of traf-
was requested from the authority in this artificial intelligence fic insurance have been determined by
regard. With the change in the Regula- applications offered law, and thus, an important step has been
tion made last May, which increased the taken in terms of standardization in com-
participants' right to change fund distri- by other digital fund pensation payment. In addition, the situ-
bution from 6 to 12, it provides the par- management platforms will ations that are not covered by the policy
ticipants with the opportunity to make have also become regulated. Following
more efficient fund management by using be more preferred after new the enactment of the draft law, the limit
the robotic applications that have gained regulations” of compensation to be paid both in pecu-
popularity recently and artificial intelli- niary and bodily indemnities will be clear-
gence applications offered by other dig- ly revealed after the SEDDK re-issues
ital fund management platforms more In 2016, with the amendments made in the compulsory traffic insurance general
effectively. articles 90, 92, 97, and 99 of the High- conditions within the framework of the
way Traffic Law No. 2918 and clarifica- articles of this Law. In this way, a pre-
According to the relevant funding reg- tion of unclear matters, and finally with dictable environment will be provided for
ulation, companies will also be required the changes made in the general condi- both the right holders, the judiciary, and
to present all funds to the participants. tions in March 2020, in the last-men- the insurance companies, and the same
How should this step be interpreted by tioned branch, both the citizens and the compensation amount will be reached
system participants? industry grievances were minimized. for each applicant, regardless of whether
they go to court or not.
Within the scope of offering pension However, the Constitutional Court's an-
mutual funds from a common platform nulment of some provisions of Article A Special Risks Management Center
thanks to BEFAS, participants will be 90 of the Highway Traffic Law, which is was established to insure areas that
able to benefit from the fund options of- the basis for determining the calculation cannot be insured or that are difficult
fered not only by the company with which procedures and principles of compulsory to do. What were the reasons for need-
the BES contracts are held but also by traffic insurance compensations, and Ar- ing this step? Can you summarize for
all other pension companies. In this way, ticle 92, which regulates the cases out- our readers?
all participants will have the opportunity side the coverage, and the decisions of the
to trade in the funds of their choice, and Council of State regarding the regulations "The Law on Making Amendments in
they will be able to invest their savings regarding the compensation calculation Laws on Insurance and Some Other Fields
in the fund they want in parallel with the methods in the traffic insurance general and a Decree with the Force of Law"
developments in the market. conditions have increased the uncertainty published in the Official Gazette dated
for both the sector and the victims. May 25, 2021, and numbered 31491, by
The transition date of our sector to the amending Article 33/A of the Insurance
said platform has been determined as of In order to eliminate this uncertainty and Law No. 5684. Private Risks Manage-
July 1, 2021, and it is aimed to success- to ensure standardization in compulsory ment Center with legal personality was
fully transition to the platform after an traffic insurance compensation calcula- established to provide coverage for risks
intense working period by our sector. tions, the work carried out with the SED- that are in the public interest to be in-