ERDEM-NEWSLETTER-2018-metin

109 COMPETITION LAW the recent change that the maximum gross premium amounts may not exceed the determined premium amounts is remarkable 18 . The Related Product Market and the Related Geographical Market Taking the past Board decisions 19 into consideration, it is evident that each insurance branch is accepted as a separate product market. The subject of an insurance product and the risks covered by it are different from other insurance products. The premium amount that is undertaken to be paid under the insurance contract changes in this respect, as well, and while this premium encompasses the losses or damages that fall within the scope of the contract, it does not include the losses or damages related to other insurance products. Therefore, with respect to the aspect of demand, each insurance product may not be substituted regarding their property and coverage subjects for consumers 20 . From a viewpoint of supply, insurance companies are obliged to obtain a permit for each insurance branch in which they wish to operate, pursuant to the related legislation. Hence, each insur- ance product constitutes a different product for insurance companies, as well 21 . The claims in the applications essentially concern the fact that the insurance companies operating in Turkey collectively increased their motor vehicles insurance premiums and, thus, the premiums have excessively increased, and that they have engaged in market sharing through concerted practices. Motor vehicles insurance is a legally mandatory product for operators of motor vehicles, and insurance coverage is publicly determined. Therefore, the related product market that constitutes the subject of the current file is determined as the “mo - tor vehicles insurance market .” 22 18 Para. 99, Decision. 19 The Board’s following Decisions: 22.08.2007 - No. 07-66/806-301, 27.05.2010 - No. 10-38/650-218, 05.08.2010 - No. 10-52/965-339, 30.09.2010 - No. 10- 62/1279-483, 25.08.2011 - No. 11-46/1115-386, 14.09.2011 – No. 11-47/1165- 411, 26.06.2013 – No. 13-40/520-229. 20 Para. 111, Decision. 21 Para. 112, Decision. 22 Para. 113, Decision.