A New Era Begins in Traffic Insurance

A new era begins in traffic insurance. SEDDK explained the details of the new process.

Insurance and Private Pension Regulation and Supervision Agency (SEDDK) made a statement regarding the new regulation enacted in compulsory traffic insurance. SEDDK used the following statements: With the said amendment, the legal framework will be drawn regarding the compensations for loss of value, permanent disability and deprivation of support within the scope of compulsory traffic insurance and the situations that are not covered by this insurance, and the compensations will be paid more fairly and quickly to the damaged beneficiaries as a result of traffic accidents. In the statement of SEDDK, it was pointed out that with the regulation, unity of practice in the payment of indemnities in the new period will be achieved and the burden of litigation in the courts over insurance products will be prevented. In the statement on the subject, following expressions were used: "This will ensure that the compensations our citizens deserve will be paid in the fairest and fastest way. While the beneficiaries know how much insurance compensation they will receive without having to resort to lengthy legal processes, insurance companies will be able to predict the risk they bear more clearly and manage them more effectively, thus improving the quality of the service they provide. They will be able to focus more. In addition, stability in traffic insurance prices will be ensured and sudden and high fluctuations caused by such uncertainties will be prevented."

Traffic Insurance Will Continue With Reasonable Premiums

SEDDK stated that drawing the basic framework of the procedures and principles regarding compensation calculations in the law will ensure that the liability of insurance companies, and therefore their financial situation, will be predictable, and that with the regulation, citizens will continue to have compulsory traffic insurance with reasonable premiums.