12 April 2021
A recent UK Supreme Court judgment in the FCA test case indicates Covid-19 related extended BI cover claims not requiring physical damage may succeed, whereas US statistics suggest claims under basic BI cover mandating physical damage are likely to fail.
23 February 2021
Business Interruption COVID-19 Test Case.Read More
08 July 2019
In the Compensations booklet below, you may find a summary of all rulings issued by the Cypriot courts in 2018, in which compensations were awarded for damages resulting from any form of accident. The purpose of this report is to give an indication of the amount of compensation given for various accident cases.Read More
13 May 2019
The proposal, as submitted by the Commission, seeks to amend the Motor Insurance Directive (2009/103/EC) in five specific areas: (i) insolvency of the insurer; (ii) claims history; (iii) risks due to uninsured driving; (iv) minimum amounts of cover; and (v) scope of the Directive.Read More
21 August 2018Read More
01 June 2020
In our Compensations booklet for 2019, you may find a summary of all rulings issued by the Cypriot courts in 2019, in which compensations were awarded for damages resulting from any form of accident.Read More
02 October 2017Read More
Cyprus has a highly developed insurance industry. As an EU member state, Cyprus benefits from a sound legal and regulatory framework which has been harmonised with the provisions of relevant directives. Insurance companies are regulated by the Insurance Company Control Service (ICCS) which is responsible for the supervision of the operations of insurance undertakings and the implementation of the Insurance Services and other Related Issues Laws of 2002-2011 and the Insurance Services and other Related Issues Regulations of 2002-2009. All the powers of the insurance laws are conferred upon the Superintendent of Insurance who is assisted by two Assistant Superintendents of Insurance.
Harris Kyriakides LLC through the specialised knowledge and experience of its insurance department, which is one of the largest in Cyprus, can advise local and international companies that operate in the Insurance and Risk Management sector.