LOSS OF VALUE LIABILITY AMOUNT
The insurer legally acts as the policyholder for the amount of compensation paid and loss of value of the vehicle. For this reason, vehicle value loss lawsuits filed against the insurance company have the nature of commercial lawsuits. Other losses are included in the concept of actual damage. In other words, the existing damage and loss of value are the responsibility of the insurance company within the same policy limit. However, the damage caused by the vehicle lying down due to repair is not a real damage, and this cost can only be claimed from the other party’s driver.
Regarding the issue, the 17th Civil Chamber of the Supreme Court of Appeals said, “The loss of value in the vehicle is among the actual damage items. It provided legal protection to the citizens against insurance companies with its decision that “the defendant insurance company should be held responsible within its limit for the loss of value in the plaintiff’s vehicle.”
If the insurance company does not respond to the applicant’s application within 15 days, rejects the application, or has a dispute regarding the situations it has not met incompletely, two solutions are provided for the injured party. The first is to file a lawsuit in the Commercial Court of First Instance and the second is to apply to the Insurance Arbitration Commission within the framework of the insurance law no. 5684. In order to avoid loss of rights, it is recommended to seek help from expert lawyers regarding the path to be followed.
ARBITRATION
One of the most important reasons why arbitration is widely preferred is the rapid progress and completion of the trial process. This is why, especially in countries with developed economies, it is considered much more practical to resolve business disputes through arbitration instead of litigation. If we look at it from our country’s perspective, it is obvious that arbitration can be seen as an advantageous alternative solution, considering the workload of the courts and the Supreme Court, as well as the length of the trial processes, including the appeal phase.
Protecting the trade secrets of the parties and keeping them in strict confidentiality, both during and after the arbitration proceedings, makes arbitration an effective alternative resolution method in dispute resolution.
The most criticized aspect of arbitration is that it is more costly than traditional litigation methods. The high registration fees and arbitrator fees can be said to be the most important disadvantages of arbitration.
As a result of the application to insurance arbitration, the rapporteur must prepare a report within 15 days and if there are no deficiencies, he must send the file to the commission. Afterwards, the lawsuit/demand petition is sent to the insurance company and a response time of 15 days is given. Even if no response is given within this period, the trial continues. The fees incurred in the appointment of experts to examine the subject matter of the case are slightly higher than the fees in the judicial judiciary. However, since the expenses incurred in arbitration will be borne by the wrongful party, the problem is solved and arbitration becomes more attractive due to the shortness of the process.
In insurance arbitration, arbitrators are obliged to make a decision within 4 months at the latest from the date of their appointment as regulated – that is, from the notification of the relevant decision (cf. Civil Code Art. 529; HMK Art. 427). This is the legal equivalent of how short the process should be.
ÖZKÖK LAW FIRM
