REGULATION ON FURNISHING INFORMATION IN INSURANCE CONTRACTS
Official Gazette of Publication: 28.10.2007 – 26684
Issued By: Prime Ministry (Treasury Undersecretariat )
PART ONE
Objective, Scope, Basis and Definitions
Objective
ARTICLE 1
(1) The objective of this Regulation is to regulate the principles and procedures regarding the duties
and obligations required to be met by the insurer in order to ensure that the persons who intend to
enter into a specific insurance relationship do not confront any insufficient information regarding the
subject, coverage and other characteristics of the contract during the negotiation as well as the
formation of the contract, and to ensure that the related parties are informed of the changes and
developments that may arise during the maintenance of the contract and that are in a quality that may
affect the policy owner, the insured or the beneficiary in relation to the operation of the contract.
Scope
ARTICLE 2
(1) This Regulation covers all organizations and institutions as well as agencies which assume risk
within the context of the Turkish Commercial Code No. 6762 dated 29.6.1956 and private insurance
legislation.
Basis
ARTICLE 3
(1) This Regulation has been prepared pursuant to the third paragraph of Article 11 of the Insurance
Law No.5684 and dated 3.6.2007.
Definitions
ARTICLE 4
(1) The following expressions in this Regulation shall have the following respective meanings;
a) Agent: Persons who have adopted it as a profession to intermediate to insurance contracts in the
name and account of the insurer for a permanent term within a specific place or region based on a
contract without holding a title such as commercial representative, commercial attorney, sales official
or employee, or to perform such activity on behalf of the insurer,
b) Information form: Document which includes summary information regarding the scope, operation
of the insurance and rules for the payment of claims, and is given by the insurer to the persons
intending to be a party to the contract prior to formation thereof, and upon request to other persons that
shall benefit from the insurance,
c) Beneficiary: Person who is not a party to the insurance contract but for the benefit of whom the
insurance contract is entered into and who shall be entitled to claim insurance compensation from the
insurer by rule when a risk occurs,
ç) Undersecretariat: Undersecretariat of Treasury,
d) Policy owner: Person who warrants the interest of the insured by paying premiums to the insurer
under the insurance contract signed with the insurer.
e) Insurer: Person who assumes risk in return of a certain premium under the insurance contract,
f) Insured: Person whose interests are covered in loss insurances, and to the person who may incur a
risk in life insurances.
PART TWO
Obligation to Furnish Information
General principles regarding furnishing information
ARTICLE 5
(1) Insurer’s obligation towards the policy owner and the persons who intend to be a party to the
insurance contract to furnish information shall be met by the insurer both verbally and in written form.
It is essential that the information should be furnished in writing. However, in insurance contracts
where the physical meeting of the parties of the contract as well as the requirement of written
information is not feasible due to the nature of the business as in the case of the contracts executed
through telemarketing methods using phones, call centers, internet and similar communication
channels, the requirement of written information may not be sought. However, the insurer shall be
obliged to prove that the minimum information is provided. The characteristics of the transactions in
this framework, and the methods and principles regarding the information to be furnished shall be
determined by the Undersecretariat.
(2) Obligation to furnish information shall commence prior to the formation of the insurance contract
and continue during the period the contract is valid.
(3) In the framework of the principles of honesty, during the negotiation, formation and maintenance
of the contract, the insurer should assist the policy owner with the technical aspects of the insurance,
provide all the required information concerning the characteristics of the insurance made or to be made
as well as the subject matter of insurance coverage and the operation of the insurance verbally and in
written form and should avoid any acts and attitudes that would mislead the policy owner.
Persons who are obliged to furnish information and other persons who may request information
ARTICLE6
(1) Prior to the formation of the contract or during the negotiation or maintenance of the contract, the
obligations for the insurer prescribed in this Regulation except the provisions of Articles 12 and 13,
shall
also
apply
to
the
agents
of
the
insurer.
(2) Upon request, the insurer shall also be obliged to fulfill its obligation to furnish information to
beneficiaries besides the obligation to furnish information to the policy owner.
Failure to duly perform the obligation to furnish information
ARTICLE7
(1) During the negotiation, formation and maintenance of the contract, if the obligation to furnish
information is not performed as required; or if misleading information is given with respect to the
insurer; or if the Information Form regulated as per Article 8 of this Regulation is not delivered
properly; or if the information in the Information Form is inaccurate; and if one of such conditions
influenced the policy owner’s decision, the policy owner may cancel the insurance contract and may
claim for damages, if any, incurred.
PART THREE
Obligation to Furnish Information during Negotiation and Formation of Contract
Information form and its content
ARTICLE 8
(1) Insurer shall provide a copy of the Information Form to the persons who intend to be a party to the
contract during the negotiation stage prior to the formation of the insurance contract.
(2) The form and content of the Information Form shall be determined by the Undersecretariat.
However, following the date of entry into force of this Regulation, for insurance types for which no
Information Form exists, the insurer shall at least use provisional Information Forms to be issued
including the following:
a) title and contact information of the insurer and the agent,
b) general notices regarding the contract to be signed,
c) coverage provided under the contract,
ç) exceptions of the insurance coverage as well as the assets and risks which are not covered by each
type of insurance that might be covered by an supplementary contract on the condition that it is
specified in the policy, or the information on special provisions and clauses which might be included
in the contract,
d) general information concerning the indemnity and rules for the payment of claims,
e) information regarding complaints and information requests as well as arbitration membership,
The Undersecretariat shall be authorized to amend the scope and content of the Information Forms.
Submission of Information Forms and other documents
ARTICLE 9
(1) The related sections of the Information Form shall be filled in by the insurer in accordance with the
facts and the legislation. The insurer shall be obliged to print the Information Forms, or prepare and
make the forms available in the electronic media. If the forms are printed, all expenses related to
printing and distribution shall be incurred by the insurer who shall be obliged to timely deliver the
forms to the agents and in sufficient quantities. If the forms are made available in the electronic media,
the insurer shall be obliged to establish the necessary infrastructure and to take all measures to ensure
that the agents have unrestricted and continuous access to the forms. If the Information Forms
produced in the electronic media are printed through printers or similar devices, the requirement
stipulated in this paragraph shall be deemed to have been met.
(2) The Information Form which will be issued in at least two copies shall be stamped and signed by
the insurer prior to the formation of the contract and shall be delivered to the person that intends to be
a party to the contract in exchange for a signed receipt. The insurer should keep a copy of the form.
The signature shall constitute a disprovable presumption that the policy owner has knowledge about
the insurance contract and its operation.
(3) In order for the insurer to be deemed to have fulfilled its obligation to furnish information in
accordance with the regulations and procedures, the information provided verbally or in written form
should not be defective, incorrect or misleading.
(4) During the negotiation of the contract, the insurer shall be obliged to provide the persons who
intend to be a party to the insurance contract with the Information Form. Upon request, during the
negotiation or the maintenance of the contract, the insurer shall provide the relevant parties with the
Insurance General Conditions regarding the insurance specified in the contract as well as the list of the
information and documents that may be requested in the application for compensation in case the risks
are realized.
(5) The Undersecretariat is authorized to exclude certain insurance branches or risk types or insurance
contracts from the scope of the obligation to furnish information.
PART FOUR
Insurer's Obligations after the Formation of Contract and Furnishing Information to Policy
Owner
Insurer’s general obligation to furnish information
ARTICLE 10
(1)The insurer shall notify the policy owner or the people benefiting from the insurance contract,
within ten working days at the latest, of mainly the changes in the regulations concerning the
insurance covered by the contract as well as its bankruptcy or winding up, cancellation of its licenses
in related branches, abolish of its authorization to conclude contract in all branches and any changes
and developments that may arise during the maintenance of the insurance contract and directly affect
the rights, liabilities and obligations of policy owner and the people benefiting from insurance
contract.
Form of furnishing information
ARTICLE 11
(1) During the period the contract is in force, the insurer shall fulfill its obligation to furnish
information via registered mail, fax, telegraph, e-mail, secure e-signature or similar means to be
approved by the Undersecretariat.
(2)The information provided via call center or telephone shall be deemed to have been made properly
if the conversation is recorded in analogue or digital media and the recording is proved by the insurer.
(3) If the fulfillment of the obligation to furnish information, as per this article, is found to be
impossible, the required information may be provided via press and broadcasting organizations
following the approval of the Undersecretariat and in a manner deemed appropriate by the
Undersecretariat.
Responding to information requests and complaints
ARTICLE 12
(1) The insurer shall be obliged to respond in writing or via electronic communication media, within
fifteen working days, at the latest, from the receipt of such application, to any information requests of
the policy owner or beneficiaries of the insurance contract on matters concerning the contract
including insurance related complaints and payments to be made in connection with the contract.
(2) The insurer shall establish a complaint unit consisting of minimum two people assigned with
evaluating and finalizing the complaints and information requests in order to fulfill the obligations set
out in the first paragraph. The said complaint unit shall keep the records and statistics of all complaints
received by the insurer and report them quarterly to the Undersecretariat in accordance with the
methods and principles to be determined by the Undersecretariat.
PART FIVE
Public Disclosure
Obligation to set up a website
ARTICLE 13
(1) In order to ensure that the policy owner, insured and beneficiaries are constantly informed about
the developments in the insurance business and the legislation regarding insurance, the insurer shall be
obliged to undertake the necessary information technology infrastructure work and to take
administrative and technical measures in order to fulfill the conditions to be determined by the
Undersecretariat within this framework.
(2) The insurer shall set a corporate website in order to effectively conduct information activities
within the framework of the general provisions as well as the provisions of this Regulation.
(3) For the effective conduct of the information activities and for enabling the related persons to access
the information they require in a simple and quick manner, the insurer shall set separate pages and
forms in a legible font size including the information or documents below by providing direct access
to the mentioned pages and forms on the main page and shall present this information to the public via
corporate website.
a) general information about the insurer as well as information regarding the shareholding status,
administrative structure and capital of the insurer,
b) information on the branches of activity and insurance services and products provided in this respect,
c) information concerning the assets which may be included in a coverage through a supplementary
contract, although they were not included under the coverage within the framework of insurance
products, and risks or special provisions which may be placed within the contract.
ç) information regarding the rights and obligations of the policy owner, insured or the beneficiary and
information concerning the procedures they must follow in case the risk covered in the contract
occurs,
d) information concerning tax practices,
e) addresses, e-mails, phone and fax numbers of, in particular, the General Directorate and Regional
Directorates,
f) contact addresses, phone and fax numbers of the agents,
g) method and procedures for complaints and application submission,
ğ) electronic forms to be prepared for enabling the policy owner, insured or the beneficiaries to request
information and place complaints online,
h) statistical data and other information,
(4) In addition to the obligations specified in the paragraph three, the insurer shall establish the
information technology infrastructure required for enabling the policyholders, insured, or beneficiaries
to access remotely on a daily basis to:
a) up to date policy information and transactions concerning the indemnity payments,
b) in addition to sub-paragraph (a), accrued and collected premiums, coverage extended and amounts
concerning each coverage, deductions (commissions, administrative and collection costs and other
expenses), amount of accumulation and bonuses if applicable, acquisition, loan and discount values,
status of loaned and discounted contracts,
c) other issues and data that may be considered relevant by the Undersecretariat. The system to be
established shall be accessible with personal information such as the policy number, claims file
number, or the username and password to be provided by the insurer.
PART SIX
Miscellaneous and Final Provisions
Regulation abolished
ARTICLE 14
(1) Regulation on Furnishing Information in Insurance Contracts published in the Official Gazette No.
26360 and dated 28/11/2006 has been abolished.
Entry into Force
ARTICLE 15
(1) Article 14 of this Regulation shall enter into force on the publication date of the Regulation while
other articles shall enter into force on 1/3/2008.
Enforcement
ARTICLE 16
(1) The provisions of this Regulation shall be executed by the Minister in charge of the
Undersecretariat of Treasury.