The document outlines amendments to the “Regulation on the Implementation Principles of Tariff for Compulsory Traffic Insurance for Motor Vehicles.” Key revisions include provisions for premium discounts for individuals registered in the National Disabled Data System, modifications related to the termination of insurance policies, and updated rules for the calculation and distribution of premiums and claims among insurance companies.
Article 1
An additional paragraph has been added to Article 4 of the Regulation, allowing the institution to apply up to a 20% discount on insurance premiums for policies issued to individuals registered in the National Disabled Data System.
Article 2
The third sentence of the first paragraph of Article 11 has been repealed.
Article 3
The transitional provision numbered 9 has been amended to state that in the event of policy termination, the premium due to the insurance company cannot be less than 2% of the applicable gross minimum wage, with 80% of this amount allocated as commission to agents. Any fractions in calculations will be rounded up to the next whole number.
Article 4
Changes have been made to the transitional provision numbered 11, including an added sentence clarifying that if the loss cost index change rate is below zero, it will be considered as zero. The governing body is authorized to adjust the predetermined increase rates for 2024, including the possibility of increasing or decreasing premiums for different vehicle categories. Notably, maximum premiums applicable from January 1, 2025, will include specific percentage increases for various vehicle classes based on December 2024 rates.
Article 5
Tables 13 and 14 in the appendix of the regulation have been amended, and new tables have been added to the appendix.
Article 6
The first sentence of the first paragraph of Appendix-4 has been revised, and significant changes have been introduced regarding premium and claims sharing for policies falling under the pool system, including a temporary provision for sharing premiums and claims up to January 1, 2025.
Article 7
The effective dates for various provisions of this regulation are as follows:
a) Article 2 will come into effect on December 5, 2024.
b) Articles 3 and 6 will take effect on January 1, 2025.
c) Other provisions will take effect upon publication.
Article 8
The enforcement of this regulation will be the responsibility of the President of the Insurance and Private Pension Regulation and Supervision Authority.
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