Motor Insurers Fund

The Motor Insurers' Fund was established in 1969. An Agreement is in force with the Minister of Finance of the Republic of Cyprus, whereby the Fund undertakes to pay, under certain circumstances, compensation to victims of uninsured motorists to victims of unknown motorists and to meet judgements issued against insolvent insurers. The Fund, with effect from 1st June 1996, joined the International Green Card System and became a member of the Council of Bureaux. It has also been designated by the Government of Cyprus to act as the International Insurance Bureau of Cyprus. As from the 1st January 2001, Cyprus is a signatory to the Multilateral Guarantee Agreement.