Cyprus: Marine liability blue card certificates
Lloyd’s has agreed a new procedure for the approval of blue card certificates with the Department of Merchant Shipping in Cyprus.
All vessels entering Cypriot waters are required to have an insurance policy that covers the third party liability of the ship owner, regardless of the territory in which the vessel is flagged. Vessels are required to present evidence of the insurance policy at a Cypriot port, otherwise they will not be permitted to dock. The evidence of the policy is usually in the form of a ‘blue card’ certificate issued by the insurer to the ship owner. The Department of Merchant Shipping in Cyprus is responsible for determining whether a blue card certificate that is presented to a Cypriot port is acceptable. Insurers are required to obtain the Department of Merchant Shipping’s approval of their blue card certificate before it is used.
Due to the unique structure of the Lloyd’s market, it has been necessary for Lloyd’s to agree a new procedure for the approval of blue card certificates by Lloyd’s syndicates with the Department of Merchant Shipping. This new procedure will ensure that all information required by the Department of Merchant Shipping is presented clearly and that syndicates and coverholders do not experience delays in their certificates being approved.
- The lead managing agent must complete, sign and submit an application form to the Department of Merchant Shipping before an insured vessel enters Cypriot waters. Lloyd’s brokers and coverholders are not permitted to complete or sign the form.
- The application form is available on Crystal.
- Instructions for completing, signing and submitting the form are at the end of the document.
- The procedure applies where a Lloyd’s syndicate is the lead on an open market marine liability insurance risk or on a marine liability insurance binding authority agreement. If the lead insurer is from the company market, the procedure does not apply.
- The procedure does not apply to marine liability reinsurance contracts.
- The new procedure commences with immediate effect.