Posts tagged with "insurance companies"

House to investigate collapse of Olympic Insurance Business

House to investigate collapse of Olympic Insurance

September 12th, 2018 The insurance superintendent controls around 30 insurance companies based in Cyprus, the chairman of the House ethics committee, Zacharias Zachariou, said on Wednesday as the committee met to discuss the fallout of the collapse of Olympic Insurance last month. Other companies operating in Cyprus have their headquarters in another...
Industrial accident victims go years without compensation Cyprus

Industrial accident victims go years without compensation

April 25th, 2018   Many victims of industrial accidents have been left for decades without compensation because their employers were uninsured, chairman of the Association of Insurance Companies said on Wednesday. Andreas Stylianou was speaking at the 40th annual general meeting of the association and slammed “the problematic attitude” of...
Insurers say Gesy health scheme doomed to fail Cyprus

Insurers say Gesy health scheme doomed to fail

May 19th, 2017 THE association of insurance companies (Saek) warned on Friday that populism was harmful to public health and raised a number of questions doubting the success of the national health scheme (Gesy). The group, that would like to see a multi-payer health care system involving private insurers instead of the single-payer system the...
Insurance firms prepared to implement Solvency 2 Cyprus

Insurance firms prepared to implement Solvency 2

October 13th, 2016 By Stelios Orphanides Cyprus’s insurance companies have worked hard with their supervisory authority to prepare for the implementation of the Solvency II European directive, which came into force this year, overhauling capital adequacy and risk assessment standards, Finance Minister Harris Georgiades said on Thursday. “They are...
New watchdog for provident funds on the cards Cyprus

New watchdog for provident funds on the cards

February 1st, 2016 A new oversight authority will be set up by the government in order to monitor insurance companies and provident funds, Finance Minister Harris Georgiades told lawmakers on Monday. Addressing the House labour committee, Georgiades said that on the recommendation of Cyprus’ international lenders, the government plans to create an...
The uphill battle to create a national health plan Cyprus

The uphill battle to create a national health plan

January 24th, 2016 By Angelos Anastasiou AMIDST controversy and attempts to crush the idea, discussion of the proposal to introduce a ‘mini-national health scheme’ (NHS) in mid-2017 with all stakeholders will commence this week, a spokesperson for embattled Health Minister Giorgos Pamboridis has told the Sunday Mail. Pamboridis, a plain-spoken...
Insurance companies ‘worried’ about mini-NHS Cyprus

Insurance companies ‘worried’ about mini-NHS

January 21st, 2016 INSURANCE companies expressed their concern on Thursday over the sudden announcement of the introduction of a so-called mini NHS by Health Minister Giorgos Pamborides. The companies’ association, SAEK, said there were gaps and questions concerning the ministry’s intentions. “The gradual implementation of the NHS is a step in...
Auditor-general exposes oversights by insurance watchdog Cyprus

Auditor-general exposes oversights by insurance watchdog

December 8th, 2015 By Stelios Orphandies It must have been quite an unexpected surprise for Victoria Natar when she got the news that the Auditor-general Odysseas Michaelides decided to include her supervisory authority in his annual audits. For some reason, Chrystalla Georghadji’s, former auditor general and predecessor of Natar, the secretive...
More consumer protection in financial sector Business

More consumer protection in financial sector

November 20th, 2015 By Stelios Orphanides The government is looking for new ways to boost protection for insurance policyholders even if insurers lose their licence for failing to meet tougher regulatory standards. Georgiades told the Cyprus Business Mail that “we have requested external technical assistance to review the insurance supervisory...
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