- CMR Insurance CMR Sigortası (Karayolu Taşıyıcı Sorumluluk)
- Insurance covering a road carrier's legal liability for loss or damage to internationally transported goods under the 1956 CMR Convention on the Contract for the International Carriage of Goods by Road. Critical for Turkish carriers operating cross-border to the EU.
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- Cancellation Clause İptal Klozu
- A policy clause permitting either party to terminate the insurance by giving a defined notice period (typically 30–90 days). In reinsurance contracts, cancellation requires careful management because it affects the cedant's ability to maintain cover on underlying policies.
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- Capacity (Underwriting) Kapasiye
- The maximum amount of risk or liability that an insurer or reinsurer is able and willing to underwrite for a given risk or category of business. Capacity is determined by capital, reinsurance protection and regulatory requirements. For large risks, the required capacity may exceed any single market participant's limit and must be filled by multiple co-insurers or reinsurers.
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- Captive Insurance Company Captive Sigorta Şirketi
- A licensed insurer wholly owned by one or more non-insurance enterprises formed primarily to insure the risks of its parent(s). Premiums accumulate within the group; in good years the underwriting profit remains in-house. Typically domiciled in offshore financial centres such as Cayman Islands, Bermuda or Guernsey.
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- Carrier's Liability Insurance (CMR) Taşıyıcı Sorumluluk Sigortası (CMR)
- Insurance covering a road carrier's legal liability to customers under the CMR Convention for loss or damage to goods in international road transport. A practical requirement for international road hauliers operating in Turkey and across Europe.
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- Catastrophe Excess of Loss (Cat XL) Katastrofik Hasar Fazlası Reasüransı
- A non-proportional treaty triggered when the accumulation of losses from a single catastrophic event (earthquake, flood, windstorm, etc.) across multiple policies exceeds the cedant's retention. Protects the portfolio against the devastating impact of a single large event.
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- Cedant Sedan (Devredici Şirket)
- The insurer or reinsurer that transfers all or part of its assumed risk to a reinsurer in exchange for a reinsurance premium; also called the ceding company or cedent. By ceding risk, the cedant increases its underwriting capacity and limits its net loss exposure.
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- Ceding Commission Reasürans Komisyonu (Devir Komisyonu)
- Commission paid by the reinsurer to the cedant under proportional treaties to cover the cedant's policy acquisition and management costs. Typically expressed as a percentage of the ceded premium; may be fixed or sliding scale (varying with the loss ratio).
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- Claims-Made Policy Claims-Made Poliçe
- A liability policy that responds when a claim is made against the insured during the policy period, regardless of when the underlying act or event occurred (subject to the retroactive date). The opposite structure is 'occurrence-based', which responds based on when the loss-causing event happened. Claims-made policies are standard in professional liability, D&O and cyber insurance. Note: Some markets use a stricter variant called "claims-made and reported" (CMAR), requiring the claim to be both made AND reported to the insurer within the policy period. CMAR eliminates the extended reporting period flexibility of standard claims-made policies.
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- Co-insurance Ko-sigorta (Birlikte Sigorta)
- An arrangement where a large or complex risk is shared among multiple insurers, each covering a defined percentage and liable only for its own share (no joint liability). Distinct from the 'coinsurance penalty' applying when the sum insured is below the full property value.
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- Combined Ratio Kombine Oran
- The sum of the loss ratio and the expense ratio; the primary measure of an insurer's overall underwriting profitability. A combined ratio above 100% signals an underwriting loss that can only be offset by investment income.
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- Commercial Crime Insurance Ticari Suç Sigortası
- Insurance covering financial losses from employee dishonesty, third-party fraud, forgery, document alteration and computer crime. The commercial equivalent of the Bankers Blanket Bond (BBB) for non-financial companies; also marketed as a Crime policy.
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- Commercial Surety Bond Ticari Kefalet
- A broad category of surety bonds guaranteeing commercial, licence, tax and regulatory obligations outside of construction contracts. Includes customs bonds, licence and permit bonds, and tax bonds. Unlike construction surety, these bonds are not project-specific.
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- Complementary Health Insurance Tamamlayıcı Sağlık Sigortası (TSS)
- A supplementary health insurance product in Turkey that covers the gap charges (fark ücreti) at SGK (Social Security Institution) contracted healthcare providers. TSS applies only within the SGK-contracted system and covers the difference between the provider's billed amount and what SGK reimburses. It does not replace private health insurance for treatment outside the SGK network.
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- Conditional Bond Koşullu Kefalet Senedi
- A bond requiring the obligee to demonstrate the principal's default or satisfy defined conditions before a payment claim can be made. Gives the surety the right to contest a demand, unlike an on-demand bond. The standard form in Turkish law and much of continental Europe.
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- Construction All Risk (CAR) İnşaat All-Risk (CAR)
- An all-risks property insurance policy covering loss or damage to a construction project — including permanent works, temporary works, materials and contractor's equipment — during the construction period. Usually on a 'design excluded' basis. May be combined with Third Party Liability (TPL) coverage. Widely required under construction contract conditions such as FIDIC.
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- Container Insurance Konteyner Sigortası
- Insurance covering the container itself (as equipment) against physical damage, loss and third-party liability. The cargo inside is separately covered by cargo insurance; container owners and lessees must distinguish between the two covers when managing their risk.
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- Counter-Guarantee Kontrgaranti
- A guarantee provided by a bank or surety to the party that has issued the primary guarantee, securing the latter against any claim it may face under that primary guarantee. Frequently used in international transactions where a local issuing bank obtains a counter-guarantee from a foreign correspondent bank, or when a surety reinsures its guarantee exposure.
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- Customs Bond Gümrük Kefaleti
- A surety bond guaranteeing an importer or exporter's fulfilment of customs duties, VAT and other fiscal obligations to the customs authority. Required in Turkey and many jurisdictions to access customs regimes, temporary importation or bonded warehouse facilities.
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- Cyber Business Interruption Siber İş Kesintisi
- Cyber policy coverage for revenue loss and continuing expenses resulting from business interruption caused by a cyberattack, ransomware or IT infrastructure failure. Triggered without physical damage, distinguishing it from traditional business interruption cover.
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- Cyber Insurance Siber Sigortası
- Insurance coverage protecting organisations against financial losses resulting from cyber incidents such as data breaches, ransomware attacks, network outages and system failures. Typically covers first-party losses (data recovery, business interruption, extortion payments subject to policy terms) and third-party liability (regulatory fines, customer notification costs, privacy litigation defence).
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- Cyber Liability Siber Sorumluluk
- Third-party claims made against the insured by customers, partners or regulators for losses arising from a data breach, cyberattack or privacy violation. Forms the third-party liability section of a cyber policy, distinct from first-party coverage for the insured's own losses.
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