Assurance account of conpulsory insurance

Compulsory ınsurances especially those which are included in the liability insurance category as an exception to the freedom of contract are established and accepted by the public power in order to compensate the risk of harm to the employees and the third parties by dangerous businesses and reassure the business operator and also economy. The power of turning the existing insurances into compulsory ones and introduction of new insurances lacking in the system in case of necessity was given to the Council of Ministers, abandoning the system that such introduction of new compulsory insurance had to be implemented through the Article 13 of the Insurance Law. The existing financial liability insurances, in particular those which cover the damages of traffic accidents and other compulsory insurances have been maintained in the law and a radical change has been made by paving the way for also turning the property insurances into compulsory ones by the decision of the Council of Ministers in case of requirements. Such radical change in our country was favorable due to the increasing number of dangerous businesses in direct proportion to the economic developments and occupational accidents almost observed in every field. As a matter of fact, acceptance of the Compulsory Personal Accident Insurance for the Mining Employees by the Council of Ministers indicates legitimacy of the new system after the adoption of the law. Assurance Account supplementing the compulsory insurance was accepted in accordance with the Article 14 of the Insurance Law. With the regulation; acceptance of a new administration covering all compulsory insurances instead of a system covering only traffic insurances under the name of Guarantee Fund previously also supplemented the compulsory insurance system. Assurance Account is designed to cover the damages to the third parties resulting from the risks secured by the instrument of compulsory insurances in cases where there is no compulsory insurance thereof or the insurance company goes bankrupt, providing that the conditions set forth in the law are fulfilled. In this context, what the compulsory insurances are and under which circumstances the Assurance Account can be referred to for the compensation of damages with regard to these insurances will be discussed in our study. Key Words: Compulsory insurance, freedom of contract, financial liability, Guarantee Fund, Assurance Account.