Insurance Agent Application Procedures
Law No. 5684 on Insurance (Official Gazette: 14.06.2007, Issue No. 26552) and the Regulation on Insurance Agency (Official Gazette: 22.04.2014, Issue No. 28980) have come into effect.
Within the framework of the aforementioned law and regulation, the authority to conduct insurance transactions has been delegated to Chambers authorized by the Union of Chambers and Commodity Exchanges of Turkey (TOBB). The Ministry of Treasury's Circular No. 2014/8 has been published to address issues arising from these practices.
It is important for our insurance agency members to be familiar with the regulations and circulars explained above. Further detailed explanations can be found on the website of the Insurance Department established within TOBB at www.sigorta.org.tr.
REQUIREMENTS FOR REAL AND LEGAL ENTITY INSURANCE AGENCY SUITABILITY APPLICATION
1- The company must be registered and announced at the Gaziantep Chamber of Commerce Registry, with a name that complies with the legislation, as either a Real or Legal Entity. (e.g. X INSURANCE BROKERAGE LLC, X INSURANCE AGENCY LLC or JSC)
2- The first stage of registering with the insurance agency, which is the record to the TOBB-AEKS (Association of Insurance and Reinsurance Companies of Turkey) directory, is completed online on the website www.sigorta.org.tr.
3- Subsequently, you will receive the registration number by email and will be informed about the need to apply to the Gaziantep Chamber of Commerce.
4- Along with the application, a fee of 250 TL for the registration and a minimum Physical Conditions Examination fee will be required to be paid at the Chamber's cashier.
5- The Insurance Operations Unit will review the documents you submit. If the conditions are met, your registration application will be accepted. Incomplete documentation will not be accepted. Therefore, it is recommended that our members stay in communication with the personnel of the Unit who will be handling the process.
6- Right after your application is received, our Unit staff will visit your company to prepare a report for the Minimum Physical Conditions Examination. This examination is conducted based on the criteria determined by the Insurance Agents Executive Committee. If the report is not positive, your registration application will not be accepted.
7- Upon approval of your company's registration application, your application will be submitted online to the Union of Chambers and Commodity Exchanges of Turkey. Document examination by the TOBB Insurance Department is not performed. The examination is based on whether the information in your TOBB-AEKS application (Company Partners, Technical Personnel, Title, etc.) complies with the criteria approved by our Unit.
8- REQUIREMENTS FOR A LIMITED AUTHORITY APPOINTED AGENCY MANAGER ACCORDING TO INTERNAL REGULATIONS. An agency manager to be appointed with limited authority according to internal regulations must be "authorized exclusively for the operations and transactions to be carried out in accordance with Law No. 5684 on Insurance." The approval of an agency manager who does not possess exclusive authorization is not granted in accordance with Article 5/1 of Circular No. 2016/27.
9- Additional activity prohibition: The prohibition mentioned in the tenth paragraph of Article 23 of the Law is limited to commercial enterprises engaged solely in agency activities. Accordingly, engaging in any activity other than insurance operations and transactions and other brokerage activities related to insurance, which might be an extension of insurance contracts and complete the stages of preparing, implementing, and terminating insurance contracts, is not permissible in a commercial enterprise engaged in agency activities. Other brokerage activities related to insurance include other brokerage activities that could be an extension of an insurance contract and are complementary in nature to the stages of preparing, implementing, and terminating insurance contracts. Activities such as traffic monitoring and payment of bills are not considered as part of other brokerage activities related to insurance.
10- Once your approved application is submitted to the Insurance General Directorate of the Ministry of Treasury and Finance, it will be reviewed similarly to the TOBB review process.
11- Approval from the Insurance General Directorate of the Ministry of Treasury and Finance signifies that your company has obtained the insurance agency suitability certificate. However, following this procedure, a fee of 63,000 TL for the registration must be deposited into TOBB's bank account.
12- A photocopy of the payment receipt for the registration fee and a letter addressed to the TOBB Insurance Department should be prepared, and they should be sent to the TOBB address via mail.
13- Your insurance agency will have the right to enter into an agency agreement with an insurance company/companies. However, if an agency agreement with an insurance company is not established within six months following the registration, the deletion of your registration is legally required.
14- Insurance Agencies are obligated to inform our Unit in writing within 10 working days of any changes or updates related to their companies (Partnership structure, technical personnel, address, title, etc.).
15- You can track the progress of your suitability certificate application for real and legal entity insurance agencies on the website www.sigorta.org.tr through the Real and Legal Entity Insurance Agency Suitability Certificate Application Inquiry screen.
INSURANCE APPLICATION DOCUMENTS AND LETTERS
INSURANCE EXPERT DOCUMENTS AND LETTERS