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Private insurance law is a branch of private law that regulates insurance contracts through which individuals or legal entities voluntarily protect their pecuniary interests against various risks. It governs the rights and obligations of the parties arising from insurance contracts.
Private insurance law covers insurance contracts, risks and indemnification, life and property insurance, liability insurance, as well as commercial and industrial insurance.
Insurance Contracts: Formation of insurance policies, rights and obligations of the parties, premium payment obligations, and the policyholder’s duty of disclosure.
Risk and Indemnification: Calculation of compensation following the occurrence of a loss or insured event (risk), payment procedures, and dispute resolution.
Property Insurance: Motor own damage insurance (comprehensive insurance), home/fire insurance, burglary insurance, marine cargo insurance, and transportation insurance.
Life Insurance: Life insurance, personal accident insurance, and health insurance.
Liability Insurance: Insurance policies that provide coverage for damages caused to third parties or liabilities arising from professional negligence.
Commercial and Industrial Insurance: Construction insurance, machinery breakdown insurance, trade credit insurance, and business liability insurance.
Private insurance includes health and life insurance, as well as motor vehicle and home insurance.
Private Health Insurance (PHI): Covers medical examinations, diagnostic tests, surgeries, and other healthcare expenses incurred at private hospitals.
Supplementary Health Insurance (SHI): Enables individuals covered by the Turkish Social Security Institution (SGK) to receive treatment at contracted private hospitals without paying additional charges.
Life Insurance: Provides financial security to the insured person's beneficiaries in the event of death or permanent disability.
Personal Accident Insurance: Pays compensation in cases of death or permanent disability resulting from unexpected accidents.
Comprehensive Motor Insurance (Casco Insurance): Covers damage to the insured vehicle caused by accidents, theft, fire, and similar risks.
Compulsory Motor Third-Party Liability Insurance: Covers damages caused by the insured vehicle to third parties in traffic accidents. Although mandatory by law, these policies are issued by private insurance companies.
Home Insurance: Protects residential properties and household belongings against risks such as fire, burglary, and flooding.
The scope of coverage, exclusions, and indemnity conditions may vary depending on the type of insurance policy. Therefore, in the event of a dispute, it is essential to assess both the general and special policy terms from a legal perspective.
Pursuant to Article 1420 of the Turkish Commercial Code (TCC), claims arising from insurance contracts are subject to a two-tier limitation period:
General Two-Year Limitation Period: All claims arising from an insurance contract become time-barred two years from the date on which the claim becomes due and payable. In practice, this period generally begins once the insurer's payment obligation has matured after the required documents have been submitted.
Absolute Six-Year Limitation Period: Claims relating to insurance indemnities or insurance benefits become time-barred in any event six years after the occurrence of the insured risk, regardless of whether the claim has become due.
Exception (Liability Insurance): Under Article 1482 of the Turkish Commercial Code, claims arising from liability insurance policies covering damages caused to third parties (such as Compulsory Medical Malpractice Liability Insurance or Optional Motor Third-Party Liability coverage included in comprehensive motor insurance policies) are subject to an absolute limitation period of ten years from the date on which the insured event occurred.
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