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Today expires the period of drivers who have insurance in the bankrupt company - "Olympic"

NEWS_PUBLISH_DATE 23 August 2018
Today expires the period of drivers who have insurance in the bankrupt company -

According to information from the Financial Supervision Commission, all insurances, including Civil Liability of motorists in Olympic Insurance Company, will be terminated automatically on August 17, 2018, due to the appointment of a preliminary liquidator by the Insurance Supervisory Authority of the Republic of Cyprus. In this regard, the General Directorate of the National Police announced that in the first few days after the insurance of "Olympic" is terminated, drivers will not be sanctioned, but only warned that they need to take out new motor third party liability insurance. The Ministry of Interior gave a 5-day grace period. As of today / August 23, 2018 /, the Traffic Police already imposes fines on drivers who do not have a valid compulsory Civil Liability Insurance.