In view of the fact that the “Cyprus Hire & Rejected Risks Pool”, has extended its activities to cover “Rejected Risks”, the Motor Insurers’ Fund undertook to refer such risks for insurance to the “Pool” provided that they comply with the following procedure:
Any driver, who applies for insurance and is rejected by three Insurance Companies, may apply to the MIF by submitting certificates of rejection from those Companies.
An application for cover, accompanied by three rejections mentioned above should be submitted to the MIF.
The MIF will then forward the application to all insurance companies, which will decide whether they are willing to consider the issue of insurance cover. Insurance companies have an obligation to respond positively or negatively, within 48 hours of receipt of the request, by electronic mail (e-mail).
In case the MIF receives one or more positive responses, it will refer the applicant to the companies that responded positively. Otherwise, the applicant will be referred to the “Cyprus Hire & Rejected Risks Pool”, certified by the MIF as a “Rejected Risk”.