Turkey: Govt enhances protection for insurance agents
Source: Middle East Insurance Review | Apr 2016
The Undersecretariat of the Treasury has strengthened protection of insurance agents in Turkey by increasing the authority of the Insurance Agents Executive Committee (IAEC), expanding the mandatory terms of agency agreements, and introducing significant changes to personnel affairs, governance and branch operations, according to international law firm, Baker & McKenzie.
The Treasury introduced these changes by amending its Regulation on Insurance Agents in January, with the amendments to enter into force on 16 July, said Mr Muhsin Keskin, a Partner in the firm, in an article published on the firm’s website.