Regulation Amending the Insurance Information and Monitoring Center Regulation
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The regulation updates how Turkey’s Insurance Information and Monitoring Center is governed and how insurance data is reported and accessed. It reflects the current role of the Insurance and Private Pension Regulation and Supervision Agency, replacing older references to the former authority. For insurers, reinsurers, pension companies, agencies, brokers, experts, and sector institutions, the main practical change is tighter and faster data reporting. Production data and several claims data points must now be provided in real time or by the end of the day, rather than with a one-day delay. The regulation also defines “specialized institutions” and “authorized users,” clarifying who may have limited access to the Center’s database.
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Key Changes
- Updates institutional references so the Insurance and Private Pension Regulation and Supervision Agency is the relevant authority.
- Requires insurance production data and certain claims data to be reported in real time or by the end of the day.
- Defines specialized institutions and authorized users that may receive limited access to the Center’s database.
Obligations
What this law requires
Insurance, reinsurance and pension companies must provide insurance production data to the Insurance Information and Monitoring Center in real time or by the end of the same day, in accordance with the principles set by the Insurance and Private Pension Regulation and Supervision Agency.
Insurance, reinsurance and pension companies must provide specified claims data points to the Insurance Information and Monitoring Center in real time or by the end of the same day rather than with a one-day delay.
All insurance-related data must be maintained in the Center’s database in accordance with the procedures and principles determined by the Insurance and Private Pension Regulation and Supervision Agency.
Authorized users may access data in the Center’s database only within the limited access authority granted to them based on their role and relevance.