The Insurance and Private Pension Regulation and Supervision Agency shared with the public its business plan for the solution of structural problems in traffic insurance, which is a compulsory type of policy. Experts, while evaluating the latest developments in traffic insurance, also warned against the recent increase in fraud cases.
Insurance and Private Pension Regulation and Supervision Agency (SEDDK) has shared with the public its business plan, which it has prepared with relevant stakeholders, for the solution of structural problems in traffic insurance, which is a compulsory type of policy for all vehicles registered in traffic. According to the roadmap, SEDDK announced that the zeroth and eighth step application will come in the short term in traffic insurance. It was stated that the regulation plans, which envisage a 200% surcharge for the zero level and a 50% discount for the eighth level, will come into effect as of the first months of 2023, and it was stated that steps will be taken regarding regulations that will include sanctions such as cancellation of licenses for companies that do not issue a policy. On the other hand, although attention was drawn to the necessity of transitioning to the free tariff system as soon as possible, a clear date was not given on this issue. The study also included traffic insurance updates planned by SEDDK in the medium and long term.
Can Paksoy, Commercial Director and Executive Board Member of Accountkurdu.com and Koalay.com, who shared his evaluations on the subject, said, “The roadmap that SEDDK has come up with by meeting with the sector stakeholders is an important step in eliminating the structural problems of traffic insurance. Adding zero and eighth steps to the traffic insurance step application, which is currently 7, and switching to the dynamic step application means an advantage for accident-free drivers.
Traffic insurance registration certificate will enter into force in 2025
The roadmap, which marks a new era for traffic insurance, includes the introduction of a direct compensation system within the medium-term plans, the widespread use of the arbitration commission, the rehabilitation of drivers with high accident rates, psychotechnical tests, trainings and the seizure of their licenses. For long-term plans, topics such as increasing the minimum agency commission amount to 100 TL in policy cancellations, ending the application that the current policy provides 15 more days of protection in vehicle sales, premium discounts on 100% electric vehicles with low emission values and vehicles belonging to the disabled were listed. Stating that the direct compensation system, which means that the person's own insurance company will pay the traffic damage immediately, will be an application in favor of the citizens, Can Paksoy said, "In addition to direct compensation, the traffic insurance registration document for commercial vehicles is planned to come into effect for 2025. Thanks to this document, people will have insurance reports just like the findeks report. This can be a remedy for structural problems that will prevent insurance companies from suffering and cause malicious use. In the long term, premium reduction practices for electric vehicles and vehicles for the disabled also touch on inclusivity and sustainability.
“Beware of fraudulent attempts”
Emphasizing that it is necessary to be careful against policy issuing frauds that have started to be experienced recently, as well as the changes applicable to vehicle insurances, Accountkurdu.com and Koalay.com Commercial Director and Executive Board Member Can Paksoy concluded his evaluations with the following statements: “Currently, a ceiling price is applied in traffic insurance. This means that high price differentials do not occur in offers offered by insurance companies. At this point, the fact that our citizens who will take out insurance do not give credit to people who reach them by mobile phone calls and say that attractive discounts such as 50% can be made, and that they receive service from reliable insurance companies and insurance intermediaries, prevent possible fraud cases. On the other hand, it should be kept in mind that insurance companies do not receive payments via personal IBANs in online policy payments, such as money order/EFT. This is where Koalay.com comes into play and offers the opportunity to compare the offers of more than 20 insurance companies. Customers can compare the offers they receive for the insurance they want on Koalay.com, choose the insurance company they want to buy the policy with, with the best price guarantee, and benefit from installment opportunities. Payment processes are carried out in a digital environment, with secure infrastructures, and citizens can purchase their insurance online in as little as 1 minute.”