The "Güvence Hesabı" established by Insurance Law No. 5684 is a non-profit institution
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Revenues


Participation Fees 

Revenues of the Account consist of participation fees paid by insurance companies as 1% of total premiums collected for compulsory insurances specified in the first paragraph, and the participation fees to be collected as 2% of net premiums from policyholders.

Subrogation Revenues

Due to the payments made by Assurance Account has the right to recourse to the written below:

  • Persons who do not have compulsory insurance or do not have compulsory insurances over the valid coverage amounts, 
  • In the event that the person responsible is subsequently identified, to these persons or to the liable insurance company, 
  • The persons responsible for the damage or the liable insurance company,
  • To the liable insurance company within the framework of payments made for material damages and personal injuries that the insurance company is obliged to pay in the event that its licenses are permanently revoked in all branches due to its financial weakness or in the event of bankruptcy, 
  • To the Bureau for the payments made as a result of the application made by the Bureau to Assurance Account for the compensation payment of the damage files finalized by The Turkish Motor Insurers’ Bureau due to damages incurred within the borders of Türkiye within the scope of Green Card Insurance.

Investment Income

The assets of The Account shall be deposited in Turkish Lira denominated accounts or government domestic debt securities in the banks to be determined by the Management Committee as specified in the General Communiqué on Public Treasurer dated 6/10/2004 and numbered 25605. 

Unclaimed Funds by Beneficiaries

The revenues and expenses of the Account are audited by The Insurance and Private Pension Regulation and Supervision Agency.