A regulation published in the Official Gazette No. 31564 dated 10 August 2021 (“Amendment”) has amended The Regulation on Arbitration in Insurance dated 17 August 2007 ("Regulation"). You can read the Amendment here (available in Turkish only).
What Has Changed?
- The Insurance and Private Pension Regulation and Supervision Agency is now responsible for the duties and authority related to insurance arbitration previously held by the Ministry of Treasury and Finance.
- The Insurance Arbitration Commission (“Commission”) will now store the arbitral awards that would previously have been sent to the competent courts for storage.
- Arbitrators who are on the insurance arbitrators list are prohibited from acting as party representatives in disputes before the Commission.
- Provisions of the Code of Civil Procedure No. 6100 on the disqualification and challenge of judges will now also apply to arbitrators.
- The time limit for challenging arbitrator(s) has decreased to five business days from 15 days.
Related Insights
Explore further resources, articles, and valuable perspectives that delve deeper into related topics, offering you a broader understanding.
-
Legal Alert 26.03.2024Ceza Muhakemesi Kanunu’nda Düzenlenen Sürelerde Değişikliğe Gidildi
12.03.2024 tarihli ve 32487 sayılı Resmi Gazete’de yayımlanan 7499 sayılı Ceza Muhakemesi Kanunu ile Bazı Kanunlarda Değişiklik Yapılmasına Dair Kanun ile çeşitli kanunlarda değişikliğe gidilmiş ve bu kapsamda 5271 sayılı Ceza Muhakemesi
Read more > -
Legal Alert 22.03.2024An Overview of Occupational Fraud 2024: A Report to the Nations by ACFE
Key Findings
The ACFE Report classifies fraud into three main categories: asset misappropriation, corruption, and financial statement fraud. Asset misappropriation is
Read more > -
Article 19.03.2024Dispute Resolution: Türkiye
The Turkish legal system, characterised by its comprehensive and hierarchical structure of laws and courts, offers a variety of dispute resolution procedures. These include traditional court proceedings and various alternative dispute re
Read more > -
Legal Alert 14.03.2024Ticaret Bakanlığından Yeşil Dönüşüme Destek
23 Şubat 2024 tarihli Resmî Gazete'de yayımlanan 8191 sayılı İhracat Destekleri Hakkında Kararda Değişiklik Yapılmasına Dair Karar ile ihracatçı şirketlerin yeşil mutabakata uyum projeleri Ticaret Bakanlığı tarafından desteklenecektir. Read more >