The Official Gazette has published a decision to implement a short-term insurance scheme specifically for car dealerships, addressing recent challenges in the second-hand vehicle market. Halil İbrahim Ece, President of the Association of Insurance Brokers and Agents (SAAD), welcomed this initiative, stating: “We hope this is beneficial for our dealership friends.”
Ece highlighted that as of December 5, a new phase started for traffic insurance in second-hand vehicle sales, which led to an increase in overall insurance coverage across Turkey. However, he noted that car dealers experienced difficulties as a result, leading to this new policy. The regulation, titled “Regulation Amending the Tariff Application Principles for Compulsory Financial Responsibility Insurance of Motor Land Vehicles,” aims to alleviate the hardships faced by authorized vehicle dealers beginning December 26.
Ece expressed gratitude to the officials, especially Davut Menteş, the President of the Insurance and Private Pension Regulation and Supervision Agency (SEDDK), for their efforts in resolving the dealers’ issues.
