As it was brought to the agenda minutes ago, the maximum premium increase rate for compulsory traffic insurance has been increased to 10 percent.
on NTV The breaking news on this subject was as follows: “Insurance and Private Pension Regulation and Supervision Agency, using its authority, announced that the 5 percent maximum premium increase in compulsory traffic insurance has been increased to 10 percent. According to the regulation published in the Official Gazette yesterday, the maximum monthly premium increase rate of compulsory traffic insurance was determined as 5 percent for the first 4 months of 2024. The rate was applied as 2 percent per month starting from May 2023. With the decision taken today, the Insurance and Private Pension Regulation and Supervision Agency used its 5 percent increase authority and increased the maximum premium increase rate to 10 percent. According to the new decision, insurance companies will be able to raise 10 percent every month in January, February, March and April.”
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The following was also quoted by Erol Şahin today: “The year 2024 January February March April for the months 5% per month (each month based on the previous month’s maximum premium amounts), Starting from May 2024, each month will be priced based on the maximum premium amounts of the previous month, according to the damage cost index. Damage cost index application:
“In the damage cost index calculation; The minimum wage increase rate announced by the Ministry of Labor and Social Security with a weight of 45%, with a weight of 30% Turkish Statistical Institute Expenditure index announced by (TURKSTAT) – price increase rate of spare parts and accessories of personal transportation vehicles, expenditure index announced by TURKSTAT with 15% weight – price increase rate of motor vehicles and expenditure index announced by TURKSTAT with 10% weight – maintenance and maintenance of personal transportation vehicles The repair price increase rate is taken into account.”
The Board determines the monitoring and correction factor on the damage cost index, taking into account damage frequency, damage costs and other issues. With the increase rate determined for January, February, March and April 2024, the rate to be determined by the index will be reduced to zero or doubled as of May 2024. is authorized.”