ARCHIVE NEWS
Motor Third-Party Liability Cancellation Fees to Double
From 1 January 2025, the fee for cancelling a motor third-party liability policy will be set at least 1.6% of the gross minimum wage.
This news item is presented as-is from our publication archive. The text is preserved as it appeared on its original publication date.
The processing fee for cancellations of motor third-party liability insurance policies will rise from 1 January 2025. The current minimum processing fee of 250 TL will be updated under a regulatory amendment that sets the commission amount insurers pay to agencies. According to a decision published in the Official Gazette, the commission payable on policy cancellations may not be less than 80% of 2% of the gross minimum wage in effect on the date the policy ends. This update is expected to apply from 2025 regardless of the policy's start date. Thanks were conveyed to SEDDK for its support in raising the processing fee.