Case of Policyholder Being Granted an Insurance Premium Reduction
According to Clause 1, Article 20 of the Insurance Business Law 2000, there are provisions regarding cases where the insured is allowed to change the level of insured risks as follows:
When there is a change in the elements that form the basis for calculating insurance premiums, leading to a reduction in the insured risks, the policyholder has the right to request the insurer to reduce the insurance premium for the remaining term of the insurance contract. If the insurer does not agree to reduce the insurance premium, the policyholder has the right to unilaterally suspend the execution of the insurance contract but must immediately notify the insurer in writing.
=> Thus, according to this provision, you have the right to request the insurer from whom you purchased to reduce the insurance premium for the remaining term of the insurance contract when there is a change in the elements forming the basis for calculating insurance premiums, leading to a reduction in insured risks
Sincerely!
