Getting insurance will not be mandatory: New regulation from SEDDK

Turkey’s Insurance and Private Pension Regulation and Supervision Agency (SEDDK) introduced new rules for bundled insurance products sold alongside goods and services, capping insurance premiums and barring providers from forcing consumers to buy coverage. The regulation also makes it easier to cancel contracts and clarifies which risks can be covered. The change matters because it curbs mandatory add-on policies that have raised costs for consumers and complicated cancellations. Watch for insurers to revise bundled product pricing and contract terms, and for further SEDDK guidance on enforcement.