Legal Aspects of General Insurance

Purpose of Training
The insurance industry is regulated by an increasingly stringent legal framework. The purpose of the program is to provide the trainees with the basic knowledge of the insurance law currently in force in Cyprus, with the exception of mandatory insurance statute laws for which extensive reference is made to other programmes (product training).
Training Objectives
  • Grasp the importance of primary and secondary EU legislation
  • Learn more extensively about the relevant Cyprus statute law
  • Adjust the legal aspects of insurance on the performance of their duties
  • Upgrade their good customer service skills
  • Adopt a more effective approach to problem-solving
Target Audience
Primarily insurance intermediaries, insurance company personnel and lawyers. People outside the insurance industry may also attend if they are directly or indirectly involved with general insurance.

The trainees will be examined at the end and during the program in order to receive the Certificate for CPD purposes.

Trainer: Christos Voniatis
Duration: 10 hours (two days)

Programme Content

Section 1 – Introduction
  • Acquaintance with participants
  • Route of the program
  • Brief explanation between EU legislation and statute law
    Section 2 – The Insurance and Reinsurance Activities (and Other Matters) Act
    • Summary of the statute
    • The latest amendment: Part VIII
    • Directive (EU) 2016/97 – Distribution of Insurance Products (IDD)
    Section 3 – The General Data Protection Law (GDPR)
    • The spirit of the law and its association with insurance
    • The 6 legal bases for data processing
    • Sensitive personal data and criminal record
    • Applying the law to our everyday professional activities
    Section 4 – The Contract Act and Insurance Law
    • The differences between an ordinary contract and an insurance contract
    • Interpretation of contract terms
    • Non-disclosure and misrepresentation
    • Absence of insurable interest and privity of contract
    • Fulfilling the contract: the obligations of the insured and the insurer
    Section 5 – The Sales of Goods Act and Insurance Law
    • Conditions and warranties
    • Implied terms
    Section 6 – General Principles of Negligence
    • 3 conditions in order to establish negligence
    • Contributory negligence between the insured(s), the victim(s) and/or other(s)
    • Calculating compensations
    • Case law
    Section 7 – Feedback
    • Conclusions
    • Test
    • Evaluation of the training program