As of today, 23rd of August, the Traffic Police starts to impose fines on drivers without compulsory third party liability insurance after the bankruptcy of the Cypriot-registered insurance company "Olympic".
As of today, 23rd of August, the Traffic Police starts to impose fines on drivers without compulsory third party liability insurance after the bankruptcy of the Cypriot-registered insurance company "Olympic".
This comes at the end of a 5-day moratorium period, issued by the Ministry of Interior to drivers with terminated policies, concluded with the company.
According to the Road Traffic Act, when driving without third party liabiulity insurance, the sanction is withdrawal of the driving license and the use of the car is prohibitted, until the presentation of a document for paid insurance.
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