Güvence Hesabı was established in 1983 and operates under the Insurance Association of Türkiye as a private law entity. At the same time, we perform an essential public function and are subject to the supervision of the Insurance and Private Pension Regulation and Supervision Authority.

It provides compensation in types of compulsory liability insurance determined by law. 

The following compulsory insurance branches are covered:

• Motor Third Party Liability Insurance
• Compulsory Liability Insurance for Hazardous Materials
• Compulsory Liability Insurance for LPG (Liquefied Petroleum Gas)
• Compulsory Personal Accident Insurance for Mining Workers
• Compulsory Seat Personal Accident Insurance for Road Passenger Transportation

WHAT WE COVER? 

Güvence Hesabı covers personal injuries of third parties within the coverage limits determined by law. You may apply to the fund in the following cases:

• Uninsured driver 
• Hit and run cases  
• Stolen vehicle 
• In the case of the withdrawal of its licenses in all branches permanently or its bankruptcy due to weakness in its financial situation (personal and material damages)

OTHER RESPONSIBILITIES BEYOND COMPENSATION PAYMENTS

• POLICYHOLDER PROTECTION

The Insurance and Private Pension Regulation and Supervision Authority is authorized to intervene in cases where an insurance company faces financial weakness. It may request a recovery plan or try to transfer the portfolio to another insurer. If that’s not possible, the management may be assigned to Güvence Hesabı. 

The Authority also holds the power to appoint or replace the Board of Directors of the insolvent company to Güvence Hesabı. 

Currently, Güvence Hesabı is responsible for managing the portfolios of two insolvent insurance companies and holds board positions in two others.

• MONITORING OF COMPULSORY INSURANCE

As Güvence Hesabı, we have a monitoring obligation regarding compulsory insurance policies. To fulfill this duty, we cooperate with the Insurance Information and Monitoring Center (SBM). Using data obtained from SBM, policyholders are notified via SMS 30 days before the expiration of their insurance coverage.

In addition, relevant licensing and permitting authorities are informed about cases involving the absence of valid compulsory insurance.