ERDEM-NEWSLETTER-2018-metin

108 NEWSLETTER 2018 customer share” that takes place among competitors, and which signi- fies a breach of Article 4 of the Competition Act 13 . In this section of this article, firstly, the Board’s market defini- tions, and the related product market and geographical market defini- tions, will be examined. Afterwards, the claims of price fixing and market sharing will be addressed. Market Definition Examining the number of the companies that operate in the field of motor vehicles insurance since 2013, this number regularly increas- es. As to the premiums, the lowest increase was in 2014, with a rate of 2.16%; whereas, the highest increase was in 2016, at a rate of 79.12%. Whereas the premium and coverage was to be designated by law in the motor vehicle insurance sector, in 2008, partial discretion was provided to the insurance companies to determine premiums 14 . As of 01.01.2014, the amendment that allows insurance companies to freely regulate premiums entered into force. However, minimum coverage amounts are still determined by the Undersecretariat of The Treasury (“Undersecretariat”), and the Undersecretariat may intervene regard- ing premium amounts 15 . Considering the price sensitivity of the insured during the deci- sion-making process, and that the insurer does not have an opportunity to consider differentiations regarding the said product, a need for ap- plication of reasonable premium levels arises 16 . Within this context, reasonable premium levels are defined by the Undersecretariat as “the level in which the premiums are payable by the insured, and the suf - ficient level to meet the obligations of the insurance company . ” The intervening authority of the Undersecretariat as to premium amounts is regulated under Article 16 of the Tariff Regulation 17 . In this respect, 13 Para. 197, Decision. 14 Para. 76, Decision. 15 Para. 77, Decision. 16 Para. 83, Decision. 17 OG, 12.11.2009, No. 27404.