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ARTICLE · 03 JULY 2013

Insurance Contracts Under The New Turkish Commercial Code

Gün + Partners
Gün + Partners
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Gün + Partners

Gün + Partners

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The insurance section of the new Turkish Commercial Code is much wider in scope and attempts to provide clarity in terms of both law and terminology controversial under the old Code of 1956 which was highly insufficient to meet the dynamic needs of today's insurance industry.

TurkeyCorporate/Commercial Law

Introduction

Turkey's new Commercial Code ("the TCC") entered into force in 30 June 20121. The insurance section of the TCC is much wider in scope and attempts to provide clarity in terms of both law and terminology controversial under the old Code of 1956 which was highly insufficient to meet the dynamic needs of today's insurance industry. For the first time in Turkish insurance law, a specific section on third party liability insurances has been introduced by a Code.

The German Versicherungsvertragsgesetz2 of 30 May 1908 as amended and German and English insurance general conditions were taken as primary and secondary sources of reference in the drafting. Developments in the insurance laws of Germany, France, England, and Switzerland were also considered.

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