The Motor Insurers’ Fund was established in 1969 and it continues to operate under the provisions of the Motor Vehicles (Third Party Insurance) Law 96 (I) / 2000 and to serve the purposes for which it was founded.

All insurance companies, that fall under the provisions of the Insurance Business Law and which transact Motor Third Party Insurance business in Cyprus, are members of the Fund.

The Fund is funded by a charge on Motor Insurance premium which is currently fixed at 5% and it is collected through the Insurance Companies.