The Insurance Association of Cyprus protested against the “unjustified statements” of EAC Chairman, Haris Thrasou to Sigma TV on Monday, July 11 on the tragic explosion at the naval base and the destruction of Vassiliko power plant. According to its announcement, “commenting on the insurance coverage, Mr. Thrasou said that it is a tactic of the insurance companies to find several excuses so as not to pay the compensations”.

“It is really surprising why the Chairman of one of the biggest semi-governmental organizations is so annihilating in relation to the role of the insurance industry, especially under those tragic circumstances when it is called to pay a sum that might exceed one billion euros”, it stressed.

“We believe that before stating this unjustified view, it would be more prudent if Mr. Thrasou expected the conduct of the relevant investigation by the experts”, the announcement noted.

“We urge Mr. Thrasou to see the number of €477 million that the insurance industry paid in 2010 as compensations and benefits as well as the historical files of EAC demands so as to ascertain whether the insurance companies respond seriously to their role”, it added.

“EAC is a big organization that has legal advisors, insurers and other consultants, who worked hard to form its insurance program. Any demands stemming from the facts will be examined and evaluated in accordance with the provisions of this insurance program”, it noted.

“Therefore, we believe that the Chairman of EAC will recognize the impropriety and will withdraw his comments”, the announcement concluded.