Law Number : 5684

Date of Adoption : June 3,2007

Date and No. of Publication in the Official Gazette : June 14,2007 - 26552

NOTE: This translation made by myself is unofficial and for information purposes only. All rights of it are reserved as a translation anyway. Read this page first, please. Click "SİGORTACILIK KANUNU" for full Turkish text of the Law.


Objective, Scope and Definitions

Objective and scope

ARTICLE 1 – (1) The objective of this Law is to regulate the procedures and principles concerning starting to activities, organization, administration, working principles and procedures and termination of the activities and issues concerning inspection of the individuals and institutions who are subject to this Law and the procedures and principles related to the insurance arbitration system intended for settlement of disputes arising from the insurance contract in order to ensure development of insurance business of our country, to protect the rights and interests of the persons who take part in the insurance contract, to ensure the insurance industry to work effectively in a safe and stable environment.

(2) Insurance companies, reinsurance companies, Turkey Insurance, Reinsurance and Retirement Companies Union, agents, actuaries and insurance experts operating in Turkey are subject to the provisions of this Law.

(3) Social security institutions, Turkey Export Credit Bank Joint Stock Company and other organizations within the insurance business according to their special laws except for the provisions of this Law related to the audit, are not under the scope of this Law.