Insights
Insightful Perspectives with Meaningful Impact
Business Interruption COVID-19 Test Case: Financial Conduct Authority’s Test Case- The UK Supreme Court’s Decision
On 15th January 2021 the UK’s Supreme Court handed down its decision Financial Conduct Authority (Appellant) -v- Arch Insurance (UK) Ltd and others (Respondents) [2020] EWHC Comm 2448. The Supreme Court rejected all of the - Read More...
2009 Motor Insurance Directive: an Evaluation of Current Proposals for Amendment
The 2009 Motor Insurance Directive is paramount for materialising the fundamental right of freedom of movement for European citizens across the EU.
P&I Club Coverage for COVID-19
P&I Clubs invariably provide insurance cover for infectious diseases. COVID-19 related cover encompasses crew illness and deviation to ensure treatment, whereas the extent of quarantine cover varies between the individual rules.
COVID-19 Test Case Judgment: To What Extent Are Business Interruption Policies Triggered by Non-Physical Damage/Loss?
Business Interruption (BI) insurance policies are normally triggered by physical damage/loss. A test case brought by the FCA explored whether such cover could be triggered by non-physical damage/loss linked with COVID-19. On 15 September 2020 - Read More...
Harris Kyriakides has joined as a Legal Sponsor the NPL Investing & Management Summit
We are happy to announce that Harris Kyriakides, has joined as a Legal Sponsor the NPL Investing & Management Summit taking place online on October 21-22.
Compensations in accident cases in 2019
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.
Introducing IFRS 17 on Insurance Contracts
IFRS 17 Insurance Contract (International Financial Reporting Standards) is the new accounting standards for insurance contracts. IFRS 17 was introduced on May 2017 by International Accounting Standards Board (IASB) and it is a profound development - Read More...
Compensations in accident cases
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 - Read More...
Report of the Personal Data Protection Commissioner for the Insurance Sector
Following an audit carried out in the insurance sector, the Commissioner for Personal Data Protection (the Commissioner) published her findings about the improvements to be made and accomplished before the end of June.
Proposal regarding the Motor Insurance Directive
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 - Read More...
Cyprus increases social insurance contributions and introduces national health insurance contributions
The Social Security Fund has announced the increase of the employees’ social security contributions as of January 1st 2019 as well as the initiation of the national health insurance contributions as of March 1st, 2019. - Read More...
Training session on the Insurance Distribution Directive
On the 24th of October 2018, our Junior Associate, Xenia Sfika, attended a training session organised by the Insurance Institution of Cyprus, at Filoxenia Conference Center. The subject matter was the Insurance Distribution Directive. The session was - Read More...