The Insurance and Private Pension Regulation and Supervision Agency of Türkiye (SEDDK) convened an Insurance Sector Consultation Meeting in Ankara with the Ministry of Treasury and Finance, the Union of Chambers and Commodity Exchanges of Türkiye (TOBB) and key industry bodies to review current priority issues across the insurance market. The meeting concluded with agreement to establish working committees to ensure regular consultation among stakeholders, and with plans to encourage the use of equivalent spare parts in motor vehicle insurance supported by product-based certification of spare parts manufacturers. Participants from agents, loss adjusters, brokers, insurers and the Insurance Information and Monitoring Center (SBM) presented requests and proposals spanning compulsory motor third-party liability insurance (including scope and updated limits, and preventing rebates and promotional practices), removing differing pricing and practices across distribution channels, and tightening controls on unauthorised insurance activity and unauthorised system access or screen use. Other themes included legal changes relating to adjuster appointment and discipline, ownership structures for corporate adjusters, easing certain SBM screen restrictions and addressing reporting gaps, standardising calculation methods for coverages such as loss of value, expanding insurance contract and disclosure rules including via durable media, potential changes to the guarantee fund and arbitration arrangements, tax-related proposals, and permitting life and pension companies to intermediate investment fund trading on a limited basis for unit-linked insurance; a joint “Insurance Sector Platform” for regular engagement among SEDDK and industry bodies was also proposed.
Insurance and Private Pension Regulation and Supervision Agency of Türkiye 2025-09-16
Insurance and Private Pension Regulation and Supervision Agency of Türkiye hosts insurance sector consultation and agrees working committees and equivalent parts certification initiative
The Insurance and Private Pension Regulation and Supervision Agency of Türkiye (SEDDK) held a consultation meeting in Ankara with key stakeholders to address priority issues in the insurance market. Agreements were made to form working committees for ongoing consultation and to promote certified spare parts in motor vehicle insurance. Discussions included compulsory motor third-party liability insurance, unauthorised insurance activities, legal changes for adjusters, and potential tax and regulatory adjustments.