Ahmet Yaşar, President of the Maher Holding Insurance Group and Vice President of the Insurance Association of Turkey (TSB), has announced significant updates regarding the Building Completion Insurance. Since 2014, this insurance has operated under established general conditions, initially regulated by the Ministry of Trade concerning pre-paid housing sales. With the growing importance of urban transformation strategies in Turkey, the General Directorate of Environmental Management requested adjustments related to the urban transformation law (Law No. 6306), specifically concerning areas at risk of disasters.

Yaşar noted that these adjustments took some time, but the new general conditions finally came into effect on June 13. He emphasized that existing policies must be updated to align with the new regulations in favor of policyholders. As of June 13, Building Completion Insurance can now be applied not only to properties sold from plans but also to those involved in urban transformation and various other buildings that do not fall under these specific regulations.

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