Contracts concerning floating insurance constitute those in which the insured interest does not yet exist at the time the contract goes into effect. These agreements typically come about in accordance with practical needs. In accordance with this requirement, insurance protection emerges upon the insurer’s notification upon the mate- rialization of the insured interest. Certain provisions of the Turkish Commercial Code are contradictory with the insurance protection’s legality based on the interest that eventually materializes. According to TCC Article 1408, a contract is void if the insured interest did not exist at the time it was drafted. Floating insurance contracts, on the other hand, do not have an insured interest at the time the contract is concluded. Based on the Turkish Commercial Code’s fundamental principles, this condition gives rise to the notion that floating insurance contracts cannot be legally concluded. In actuality, contracts for floating insurance are often reached, and decisions from the courts are made on legal disputes originating from these agreements. The doctrine has also drawn attention to this inconsis- tency with floating insurance contracts. The studies on this topic all agree that contracts for floating insurance ought to be regulated. Aside from this, it is evident that the writers that tackled the problem offered several solutions that occasionally overlap and sometimes do not contradict one another. A recommendation for a solution will be pro- vided once an assessment of the study is conducted using the doctrine’s opinions and court rulings as references.
Insurance, subscription insurance contract, interest, lack of interest, nullity.
