I should have said that I have been a cyclist, in inner city Manchester, so I do know what it is like to cycle in traffic (I was once run off the road by a bus - if I hadn't been lucky enough to be by a dropped kerb, I would have fallen off under the bus) - I really do appreciate that it is scary and very hazardous to cycle in busy town/city streets.
I was aware of the proposal to change the law so that drivers were automatically held responsible for any accidents involving a cyclist, but I was not aware that these proposals had actually reached the statute books - and as all the dses cycle regularly, and dh is about to start cycling to work, I think one of us would have noticed any reporting of this. I could be wrong, though.
At worst, I would say that you were both not being as careful as you should have been, but I can understand why he would assume it was safe for him to move off across the junction, given that he had a green light to do so.
Had he actually been stationary at the lights, or had he driven up to a set of lights that were green, and simply continued on? Was he driving within the speed limit? Were there any skid marks on the road? If there weren't then, given my extensive knowledge of such things (gleaned from CSI etc), I would say he hadn't braked. If the skid marks were short, it might suggest he hadn't braked soon enough, or was going too fast to react to any sudden happenings.
When I approach a junction with traffic lights and pedestrian crossings, I do take care to look and see if there are pedestrians at the crossings, and if there are, I keep an eye on them in case they come out against the red man. I also look to see if the traffic has stopped in the other roads, but if it has stopped, I would assume it would stay stopped, if you see what I mean - I wouldn't be keeping as much of an eye out, as I think that I would notice if the car at the front of the queue started to move, against their red light.
I have been in the situation of pulling out of a side road and having a cyclist come shooting out under my wheels - he said his brakes had failed and he had been unable to stop. He fell off in front of my car, but I was going slowly enough that I stopped without touching him, and neither he nor my car were damaged. It was a bloody scary thing to happen, though, which is why I am sympathetic towards the driver - unless he was not driving safely - ie. within the speed limit and according to the rules of the road.
If he genuinely had been blinded by the sunlight, this could have been very sudden and unexpected, and not something he should have been able to predict, and slow down for. And as the sun is lower in the sky at the moment, I would guess it is more of a possibility.
In fairness, I would say that you caused the accident, and he did not react fast enough to prevent it.
However, I do think you should give your version of events to the police.