In a recent announcement by the Turkish Insurance Association (TOBB), starting January 1, 2025, there will be an increase in the minimum processing fee for the cancellation of traffic insurance policies associated with vehicle sales. Currently set at 250 TL, any policy cancellation initiated after this date will ensure that commissions paid to agents by insurance companies will not fall below 80% of 2% of the gross minimum wage in effect at the time of cancellation.
This regulatory change is outlined in the amendment to the “Regulations on the Application Principles of Tariffs for Compulsory Motor Vehicle Liability Insurance,” published in the Official Gazette on December 13, 2024. The TOBB’s Insurance Agents Executive Committee expresses gratitude to the leadership of the Insurance and Private Pension Regulation and Supervision Authority, particularly Chairman Davut Menteş, for considering their requests regarding the fee increase.
It is noted that this adjustment applies to all policy cancellations effective from January 1, 2025, regardless of the policy start date.
For more details on the related regulations, you can view the official document [here](https://www.resmigazete.gov.tr/eskiler/2024/12/20241213-4.htm).
