The Communiqué ("Communiqué") Amending the Communiqué on Increasing the Monetary Limits in the 12th and 15th Paragraphs of Article 30 of the Insurance Law was published in the Official Gazette dated May 21, 2025, and numbered 32906.
Pursuant to the Communiqué, the monetary thresholds applicable to dispute resolution procedures before the Insurance Arbitration Commission have been increased.
Accordingly:
- The monetary threshold for arbitral awards rendered upon application to the Insurance Arbitration Commission to be deemed final has been increased from 15,000 Turkish Lira to 28,000 Turkish Lira.
- The monetary threshold for lodging an appeal against the decisions of the Insurance Arbitration Commission has been raised from 238,730 Turkish Lira to 300,000 Turkish Lira.
- The minimum threshold required for the establishment of an arbitral panel has been increased from 50,000 Turkish Lira to 96,000 Turkish Lira.
In addition, pursuant to the introduced provision in the Communiqué, the specified monetary thresholds shall be increased at the beginning of each calendar year in line with the rate of change in the Domestic Producer Price Index announced by the Turkish Statistical Institute for the same month of the previous year. Unless otherwise regulated by the Authority, this increase shall be applied automatically, and any fractional amounts below one thousand Turkish Lira shall not be taken into account in the calculation of the updated thresholds.
You can access the Communiqué through this link. (Only available in Turkish)
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