The communiqué issued by the Insurance and Private Pension Regulation and Supervision Agency (SEDDK), titled “General Conditions on Amending the General Conditions of Compulsory Earthquake Insurance,” was published in the Official Gazette.
Transfer of DASK policies will end
Under the regulation, DASK policies will no longer be transferred to the new property owner when a property is sold. The change will take effect on September 5, 2026.
If ownership of an insured property changes, the premiums paid for the unused days of the policy will be refunded to the policyholder.
New contract to be checked
During a change in the beneficiary, land registry offices or the authorities authorized to conduct the transaction will check whether a Compulsory Earthquake Insurance contract belonging to the new beneficiary exists.
In other cases where this check is not carried out, the new owner of the property will notify the insurance company that brokered the contract within 15 days of learning about the change and the existence of the contract.
Insurance company given 24 hours
The relevant insurance company or agency will be required to issue the new beneficiary a policy containing an endorsement for the change in beneficiary within 24 hours of receiving the notification.