Nicosia, Cyprus. MPs on Monday agreed to government-proposed changes to a bill aimed at ending discriminatory practices by insurance companies against elderly drivers. The revised bill is set to return to the House plenum for a vote on Thursday.
Background to the legislation
On March 5, the House plenum passed legislation requiring motor insurance companies to document their reasons when terminating coverage for people aged over 70 or when increasing premiums for people in this age group.
President Nikos Christodoulides refused to sign the bill into law and sent it back to parliament with suggestions for changes.
Government-proposed changes and legal considerations
In parliament on Monday, officials from the attorney-general’s office, acting as the state’s legal counsel, explained the proposed changes.
MPs agreed to the tweaks, noting that otherwise the matter would end up at the Supreme Court and take months to adjudicate.
Next steps and expected vote
The revised bill will go back to the plenum for a vote this Thursday, where it is expected to pass.
Scope of the initiative
The legislative initiative was introduced by Volt MP Alexandra Attalidou and seeks to prohibit insurers from imposing excessive premiums or refusing coverage to drivers over 70 solely based on age.
The bill aims to address age-based discrimination and seeks fairer costs for pensioners who face high premiums despite good driving records.
Insurance companies would be required to justify, with data, any decision to stop covering drivers over 70, rather than using age as an automatic disqualifier.
In Cyprus, drivers over 70 must renew their driving licence every three years, a process requiring a health certificate, which insurers have used to justify higher risk premiums.
MPs said the government-proposed changes do not alter the bill’s philosophy.
How do you think insurers should demonstrate, with data, the reasons for higher premiums or coverage termination for drivers over 70?
