Law No. 7519 which partly amends Article 1259 of the Turkish Commercial Code (Law No. 6102) is published in the Official Gazette on July 09, 2024 (No. 32597). The amendment differentiates the limits for compulsory insurance for death or personal injury of passengers depending on the licence of the ship.
Article 1259 of the TCC which is adopted from Article 4bis of the Athens Convention 2002 states that when passengers are carried on board a ship licensed to carry more than twelve passengers, any carrier involved in all or part of the carriage must maintain compulsory insurance to cover liability for the death or personal injury of passengers.
The compulsory insurance limit used to be at least 250,000 Special Drawing Rights (SDR) per passenger on each distinct occasion, regardless of the licence of the ship. However, following the amendment, the minimum compulsory insurance amount is now set at 250,000 SDR per passenger for each accident for ships licensed for international voyages. For ships not licensed for international voyages, the minimum compulsory insurance amount is now set at 100,000 SDR per passenger for each accident.
The amendment has come into effect on July 09, 2024.
