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TSB Renews the ‘General Conditions’ of In-surance

Within the scope of TSB’s “Revision of Insurance General
Conditions Project”, the General Condi-tions of Life In-
surance, which have been updated in accordance with the
legislation and put into an understandable language, have
entered into force. Chairman Benli: “This study is one of
our biggest services…”

The Insurance Union of Turkey (TSB), working for the de-
velopment of products in favor of the insured, is renewing
the General Conditions in the “Optional Insur-ance Con-
tracts” in 9 main branches with the “Revision of Insur-
ance General Con-ditions Project”. The first study, which
provides important contributions to the prevention of legal
conflicts and insurance literacy by harmonizing with the
cur-rent legislation, was conducted in the General Condi- contributed to this project, which I attach great impor-
tions of Life Insurance. tance to the development of the Turkish insurance in-dus-
try, and our team of approximately 120 people from the
The General Conditions of Life Insurance, which has been insurance industry who have worked diligently from the
simplified and brought into a more up-to-date and under- planning stage.”
standable language, and whose incompatibilities with the
Turkish Code of Obligations No. 6098 and the Law on the The Project on Revision of General Conditions, which was
Protection of Consumers No. 6502 have been resolved, launched in June 2021 with the guidance of SEEDK, is
were published by the Insurance and Private Pension Reg- being carried out with 14 representatives from TSB, as
ulation and Supervision Agency (SEDDK) on 1 June and well as about 120 people from 10 Review and Research
en-tered into force. Committees under TSB. The Academic Committee headed
by Prof. Dr. Emine Yazıcıoğlu, Head of the Department
The “Revision of Insurance General Conditions Project”, of Maritime Law at Istanbul University Faculty of Law
implemented in coopera-tion with the SEDDK support and and President of the Insurance Law Turkish Association,
Istanbul University Faculty of Law, aims to re-new the 36 is leading the studies.
General Conditions in the ‘Optional Insurance Contracts’
in 9 main branches. A very important project for the benefit of all parties
to the insurance system
In accordance with the legislation, simple and
understandable… Stating that the Project initiated by TSB is very important
and for the benefit of all parties to the insurance system,
TSB Chairmen Atilla Benli said in a statement on the is- Prof. Dr. Emine Yazicioglu said: “Many of the general
sue: “The General Con-ditions left over from the 1950s terms of insurance is very old, dated, changing the provi-
and 1960s were causing disputes with today’s legislation. sions of the basic law are not compatible with the subject
On the other hand, the insecurity caused by the fact that of insurance, guaranteed insurance coverage issues such as
they had a difficult-to-understand language was an obsta- the obligations of the parties lack a clear understanding of
cle to the spread of insurance. For this reason, we consider the insurance needs are not met, and gives rise to disputes.
the General Conditions Revision Project to be one of our
greatest services performed in favor of both the insured We consider this project, which we implemented with
and the insurers who have come to life in line with our TSB, to be one of the most productive examples of indus-
purpose of existence. try-academy cooperation; we attach great im-portance
to it because of its scope and purpose. As a result of our
I sincerely thank our esteemed academics, Prof Dr. Emine study, we pre-dict that various problems caused by current
Yazıcıoğlu, Prof. Dr. Mehmet Serkan Ergüne, Assoc. Dr. General Conditions can be prevent-ed, as well as the need
Doruk Gonen, Assoc. Dr. Ecehan Yeşilova Aras, Assoc. Dr. for insurance against new risks that change or arise, can be
Cüneyt Süzel, Dr. Teach Ayşegül Buğra, Chairman of the met. For this reason, we are also very happy to take part in
TSB Legal Committee, Prof. Dr. Ahmet Samim Ünan, who this very im-portant TSB project.”