Insurance Law & Claims

An insurance contract is a contract in which the insurer undertakes, in return for a premium, to compensate a danger or risk that damages a person's interest that can be measured in money, in case it occurs, or to pay a sum of money or take other actions due to the life span of one or more people or due to some events that occur in their lives.

Articles 604 and 605 of the Turkish Code of Obligations apply to insurance contracts made with an unlicensed company knowing its status. This provision does not apply to insurance contracts established with insurance companies that are not resident in Turkey.