Turkey: Govt extends ceiling on compulsory motor insurance premiums
Source: Middle East Insurance Review | Feb 2019
The Ministry of Treasury and Finance has extended for another year the ceiling on premiums for compulsory motor third-party liability insurance.
The arrangement will thus continue throughout 2019, with the Ministry’s decision published in the Official Gazette dated 4 January 2019.
The ceiling on premiums charged on high-risk drivers, including drivers of cabs, minibuses, commercial buses and trucks has been in place since 12 April 2017, following vehicle owners’ complaints over large premium hikes in 2015 and 2016.
The Ministry has also determined the minimum coverage for this year for compulsory motor third-party liability insurance.
A similar review was carried out at the end of 2017 for motor business in 2018. M