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ARTICLE · 31 JANUARY 2024

Insurance And Reinsurance Brokers Regulations Receive Significant Revisions

Ersoy Bilgehan
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Significant revisions have been made in the regulations regarding insurance and reinsurance brokerage. The amendment introduce substantial novelties that impact everyone currently involved or intending to enter the sector.

TurkeyInsurance
Yeşim Odabas
Yeşim Odabas
Cemre Yesinnar
Cemre Yesinnar
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Significant revisions have been made in the regulations regarding insurance and reinsurance brokerage. The amendment introduce substantial novelties that impact everyone currently involved or intending to enter the sector.

The "Regulation on the Amendment to the Regulation on Insurance and Reinsurance Brokers" ("Amendment") prepared by the Insurance and Private Pension Regulation and Supervision Agency ("Agency") which has been published in the Official Gazette on 18/01/2024, introduced significant changes to the Regulation on Insurance and Reinsurance Brokers ("Regulation"). The changes have immediate effect.

Significant Changes

the Amendment provides comprehensive legal protection to the title "broker". It is explicitly stipulated that no real person or legal entity, other than brokers established in accordance with the legislation, may use words and symbols in their titles or any other documents that may create the impression that they are engaged in

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