The top insurance company in Cyprus | Pitsas Insurance on Pitsas Insurance

Allianz Claim. How to file a claim with Allianz International Health Insurance (Allianz Care)

Wed, 20 Mar 2024 00:00:00 +0000

Allianz Claim – Introduction

In this short guide, we will provide a detailed analysis of all the steps required to file a claim with Allianz International Health Insurance (Allianz Care).

Additionally, we will offer advice on how you can increase your chances of having your claim fully and promptly settled.

Table of contents:

How does the Allianz claim submission process work?
How to file an Allianz insurance claim?
How long does allianz take to process a claim

Business insurance in Cyprus in 2025. Affordable business insurance in Cyprus.

Sat, 23 Dec 2023 00:00:00 +0000

Business Insurance in Cyprus

Also known as commercial insurance, business insurance is necessary for your company as it can protect your business from unexpected circumstances and financial losses.

In this comprehensive guide to business insurance in Cyprus, we will help you understand the various types of business insurance available on the market, and we will explain their coverages in detail.

We will also share clever tips on reducing the cost of your business insurance by comparing the most affordable business insurance contracts in Cyprus.

Critical Illness Insurance in Cyprus in 2025. What is critical illness insurance?

Fri, 22 Dec 2023 00:00:00 +0000

Critical illness insurance in Cyprus

Critical illness can occur anytime, and critical illness coverage can prove invaluable during a significant medical event.

While it may be the last thing on your mind, critical illness insurance can bring you peace of mind and financial support when you most need it.

This guide will examine everything you need to know about insurance for critical illness in Cyprus.

Table of contents

What is critical illness insurance?
What does critical illness insurance cover in Cyprus?
How does critical illness insurance work in Cyprus?
What cancers are covered by critical illness insurance?
Is critical illness insurance worth it?
How much critical illness insurance do I need?
Benefits of critical illness insurance
Disadvantages of critical illness insurance
Life insurance and critical illness cover
Best critical illness insurance
Child critical illness insurance
Critical illness insurance cost

What is critical illness insurance?

Critical illness insurance can financially protect you in the event of a major illness diagnosis. Due to the serious nature of these illnesses, they will require extensive medical care and costly treatment.

Cyprus insurance in 2025. How to save money on insurance in Cyprus

Fri, 22 Dec 2023 00:00:00 +0000

A complete guide to Cyprus insurance

In this analytical guide to Cyprus insurance, we will cover the main types of individual and business insurance contracts provided in Cyprus.

We will also present the range, average and minimum cost of most insurance contracts.

We will then suggest easy and smart ways to decrease the costs of Cyprus insurance plans.

Following our advice, you might save hundreds or even thousands on insurance policies.

Employers Liability Insurance in Cyprus in 2025. A complete guide.

Fri, 22 Dec 2023 00:00:00 +0000

Employers Liability Insurance Cyprus

Business owners in Cyprus need employers liability insurance to protect them from lawsuits arising from employee work-related injury or illness claims.

Without employers liability insurance, your business would be responsible for legal costs, such as lawsuits, attorney fees, and settlements.

It’s important to note that employers liability insurance isn’t the same as group health insurance.

While group health insurance helps to pay for employees’ medical expenses, employers liability insurance helps to pay for legal costs.

Insurance in Cyprus in 2025. How to save money on insurance in Cyprus.

Fri, 22 Dec 2023 00:00:00 +0000

A complete guide to insurance in Cyprus

In this comprehensive insurance guide, we will cover the whole range of individual and business contracts provided in Cyprus.

We will also present the price range of insurance products, including the average and minimum cost of most insurance contracts.

We will also give you tips on how to decrease the cost of your insurance contracts without compromising the quality of your coverage.

Table of contents

Personal Accident Insurance in Cyprus in 2025. Best personal accident insurance in Cyprus.

Fri, 22 Dec 2023 00:00:00 +0000

Personal accident insurance in Cyprus

Personal accident insurance is an essential product for businessmen and self-employed people.

This type of insurance can provide a steady source of income for the insured if they become temporarily or permanently unable to work.

In this guide about personal accident insurance, we will explain the types available to you in Cyprus and what they cover in detail to help you find the correct insurance.

Boat insurance in Cyprus in 2025. Best boat insurance in Cyprus.

Thu, 21 Dec 2023 00:00:00 +0000

Boat insurance in Cyprus

A boat insurance policy can protect you against liability and damages in the event of a boating accident, including injuries to a third party or damage to someone else’s property.

Boat insurance can cover many types of watercraft, such as sailboats, motorboats, jet boats, and inflatable boats, regardless of their use (private or commercial).

In this guide to boat insurance in Cyprus, we will discuss what it is, what it covers, when you might need it, and various coverage options.

Group life insurance in 2025. A complete guide.

Thu, 21 Dec 2023 00:00:00 +0000

Group life insurance

All types of life insurance, including group life insurance, are designed to ensure your loved ones are financially protected after your death.

Employers or organizations often offer group life insurance to their employees or members. It’s an attractive incentive and an affordable insurance option with many benefits.

Whether you’re an employer or an employee looking into group life insurance, here’s everything you need to know. We will cover what it is, how it works, and its benefits.

Indexed universal life insurance in 2025. A complete guide.

Thu, 21 Dec 2023 00:00:00 +0000

Indexed universal life insurance

Indexed universal life insurance is quickly becoming one of the most desired insurance and investment options, but what is indexed universal life, and how does it work?

Indexed universal life, or IUL, is a complicated insurance product with many benefits. However, like any insurance product, it has some drawbacks (depending on your circumstances.)

Like most life insurance, your needs will determine whether the product is suited to you.

Life insurance in Cyprus in 2025. A complete guide.

Thu, 21 Dec 2023 00:00:00 +0000

Life Insurance Cyprus

Life insurance protects your spouse and children from the likelihood of serious financial losses that could result if something unforeseen happened to you.

It provides financial security and helps to pay for debts, living costs, and medical or final expenses.

Various types of life insurance policies are provided in Cyprus, but the most popular are term and whole life insurance.

In Cyprus, the life insurance premiums of policies are significantly lower than in other European countries.

Motor Insurance in Cyprus in 2025. A complete guide.

Thu, 21 Dec 2023 00:00:00 +0000

Motor Insurance Cyprus

It’s not easy for inexperienced drivers and foreign nationals to buy the correct type of motor insurance policy in Cyprus.

To make matters a little more complicated, there are many motor insurance contracts to choose from, all with varying terms.

In addition, the claims handling process in Cyprus isn’t as straightforward compared to other countries.

Cypriot insurance companies have unique claim management procedures, and their willingness to pay claims varies significantly. Therefore, the premium rates and claim satisfaction ratios in Cyprus vary greatly.

Public Liability Insurance in Cyprus in 2025. Affordable public liability insurance in Cyprus.

Thu, 21 Dec 2023 00:00:00 +0000

Public Liability Insurance Cyprus

Also known as business public liability, public liability insurance is a type of business insurance that covers claims made against you by the general public.

Public liability insurance protects your company from the financial and legal implications of accidents arising from your business activities.

In this guide to business public liability insurance in Cyprus, we will examine the differences between public liability policies and various insurance contracts.

Commercial auto insurance in 2025. A complete guide.

Wed, 20 Dec 2023 00:00:00 +0000

Auto commercial insurance

Whether you drive a company or personal vehicle for business purposes, you may require commercial auto insurance.

Understanding how commercial auto insurance works is essential when considering it for any business activity.

In this guide to commercial auto insurance, we will cover what it is, why you need it, and help you compare coverage to find the best commercial auto insurance.

Table of contents

What is commercial auto insurance?
What does commercial auto insurance cover?
Commercial auto liability insurance
Is commercial vehicle insurance required?
Commercial auto insurance vs personal
Does commercial auto insurance cover personal use?
Is commercial auto insurance cheaper than personal?
How much is commercial auto insurance?

What is commercial auto insurance?

Commercial auto insurance is vehicle insurance that covers physical damage and liability claims whether you, your employees, or another party was at fault.

Immigration health insurance in Cyprus. Affordable immigration insurance in 2025.

Wed, 20 Dec 2023 00:00:00 +0000

Insurance for immigration in Cyprus

It is obligatory to acquire immigration insurance if you plan on moving to Cyprus.

By the end of this analytical guide to immigration insurance in Cyprus, you will know what residency and work regimes are needed to immigrate to the country and which immigration insurance to choose.

We will also discuss how immigration insurance in Cyprus works, the main types of coverage available, and help you find the most affordable contract.

Income protection insurance in 2025. Best income protection insurance in Cyprus.

Wed, 20 Dec 2023 00:00:00 +0000

Income protection insurance in Cyprus

Income protection insurance is an indispensable insurance product for self-employed people and businessmen.

An income protection insurance contract can provide a stable source of income for the insured person if they are temporarily unable to work or become permanently incapacitated to do so.

In this guide to income protection insurance in Cyprus, we will help you understand the various types of income protection insurance available to you and explain their coverages in detail.

Short term medical insurance in 2025. What is short term health insurance?

Wed, 20 Dec 2023 00:00:00 +0000

Short term medical insurance

Short term medical insurance, also known as short term health insurance, can provide temporary medical coverage under certain circumstances.

These temporary health insurance plans include different features compared to standard health plans.

In this guide to short term medical insurance, we will examine what it is, when you might need it, its benefits, and if it’s the right choice for you.

Table of contents

What is short term medical insurance?
Who is eligible for short term medical insurance?
What does short term medical insurance cover?
What are the pros of short term medical insurance?
What are the cons of short term medical insurance?
Will short term medical insurance cover pre-existing conditions?
Is short term medical insurance the right choice for me?
How can I buy a short term medical insurance plan?
The best short term insurance plan
Short term medical insurance cost

What is short term medical insurance?

As the name implies, short-term medical insurance is a type of insurance policy that provides temporary medical coverage, usually from a few months up to a year.

General Public Liability Insurance in Cyprus in 2025. Affordable general public liability insurance in Cyprus.

Tue, 19 Dec 2023 00:00:00 +0000

General Public Liability Insurance in Cyprus

When signing deals with large international companies, Cyprus-based companies are under a contractual obligation to purchase insurance from a reputable provider.

International companies will usually require the acquisition of both general public liability and professional indemnity insurance.

Additionally, companies in the technology sector may be required to carry multimedia and cyber insurance.

In this guide to general public liability insurance in Cyprus, we will explain what this type of insurance covers and how it works.

Life insurance vs health insurance in 2025. A complete guide.

Tue, 19 Dec 2023 00:00:00 +0000

Life insurance vs health insurance

Life insurance and health insurance have distinct purposes and are designed to cover different things.

The main objective of a life insurance policy is to provide a cash benefit to your chosen beneficiaries upon death. On the other hand, health insurance provides you with financial protection in case you become ill.

While life insurance pays out to the insured individual’s beneficiaries, health insurance pays out for the insured individual’s healthcare expenses.

Provident Funds in Cyprus in 2025. A complete guide.

Tue, 19 Dec 2023 00:00:00 +0000

What is a provident fund in Cyprus?

A provident fund is essentially a private group pension plan that some employers provide for their employees in Cyprus.

Provident fund members invest monthly a fixed percentage of their salary into a common investment pool for their retirement in much the same way as they would with social insurances.

The ageing population and the Cypriot economy’s slow development rates for over a decade have put the social security system into a challenging situation.

Van commercial insurance in 2025. A complete guide.

Tue, 19 Dec 2023 00:00:00 +0000

Van commercial insurance

Commercial van insurance helps protect your business vans and vehicles, whether you use delivery vans or own a fleet of cargo vans.

This type of insurance helps cover vans you use for business purposes and shields you from costs associated with vehicle damage and driver injuries.

In this guide to van commercial insurance, we will cover the following:

What is commercial van insurance?
What does commercial van insurance cover?
Commercial van insurance vs personal
Non commercial van insurance
Commercial van insurance any driver
Commercial cargo van insurance
Commercial van insurance coverages
Commercial van insurance cost

What is commercial van insurance?

Also known as business van insurance, commercial van insurance tends to have higher coverage limits as business vehicles require more protection.

Cyber insurance in Cyprus in 2025. A complete guide for Cyprus-based companies.

Mon, 18 Dec 2023 00:00:00 +0000

Cyber insurance in Cyprus

Cyber insurance is an indispensable product for companies that handle sensitive personal data (i.e. credit cards, social security numbers, tax records) and for companies that provide technology services to third parties.

Companies based in Cyprus are often contractually obligated to acquire cyber insurance from a reputable insurer when signing a business deal with a large international company.

Cyber insurance can be expensive, so we wrote this analytical guide to help you understand the coverages and learn ways to save money on your contract.

MEU1 in Cyprus in 2025. Yellow Slip in Cyprus.

Mon, 18 Dec 2023 00:00:00 +0000

MEU1 in Cyprus

European nationals must apply for a “Registration Certificate” to live and work legally in Cyprus. This official certificate is called “Yellow Slip.”

Any EU or EEA member state national is considered an EU citizen and eligible to apply for the certificate.

As the name implies, it’s printed on yellow paper and available to all EU citizens who want to extend their stay in Cyprus for specific reasons (working, searching for property, etc.).

Term life insurance in Cyprus in 2025. A complete guide to term life insurance in Cyprus.

Mon, 18 Dec 2023 00:00:00 +0000

Term Life Insurance Cyprus

Buying life insurance can be a lifeline in protecting your partner and children from the potentially life-altering financial losses that could arise if something unexpected happened to you.

Life insurance provides a family with financial security and helps to pay for debts; living expenses; medical fees, and final expenses.

Term life is the simplest form of life insurance available in Cyprus. It is an inexpensive option to acquire life insurance benefits and still achieve your financial aims.

Medical insurance for immigrants in Cyprus in 2025. Affordable immigration insurance.

Sun, 17 Dec 2023 00:00:00 +0000

Medical insurance for immigrants in Cyprus

Anyone planning to move to Cyprus must acquire medical insurance for immigrants.

In this analytical guide to medical insurance for immigrants in Cyprus, we will examine the various residency and work schemes in the country and explain why you need to obtain immigration insurance.

In addition, we will explain how these immigration insurances work, the main types of coverage you can buy, and the most affordable contracts.

Professional indemnity insurance for fund administrators in Cyprus in 2025.

Sun, 17 Dec 2023 00:00:00 +0000

Fund administrator’s professional indemnity insurance

Even if you’re an experienced fund administrator, mistakes can happen. Regardless of your experience level, there is always the possibility of an error and omission.

Professional indemnity insurance for fund administrators can protect companies from any liability incurred if you allegedly provided poor advice, services, or designs to a client.

After 2017 the number of fund administrators in Cyprus skyrocketed. Requests for comprehensive professional indemnity insurance have also increased significantly.

Property insurance Cyprus in 2025. Affordable property insurance in Cyprus.

Sun, 17 Dec 2023 00:00:00 +0000

Cyprus property insurance

This comprehensive guide to property insurance in Cyprus will examine the features of various types of policies available on the market and when you might need them.

We will also compare the best property insurance in Cyprus and share tips on making your insurance premiums more affordable.

Table of contents

What is property insurance?
Types of property insurance in Cyprus
Property insurance cost
Affordable property insurance
Property insurance quote
Compare property insurance
Best property insurance in Cyprus

What is property insurance?

Property insurance is an umbrella term for a collection of insurance that provides coverage for property owners, including liability protection.

Marine Insurance in Cyprus in 2025. A complete guide.

Sat, 16 Dec 2023 00:00:00 +0000

Marine insurance in Cyprus

Cyprus is a well-established global maritime centre with infrastructure and services able to successfully meet the growing demands of a globalised shipping industry.

To meet the growing demand, insurance companies in Cyprus provide a wide range of marine insurance products to their international customers.

In this marine insurance guide, we will explain the main types of marine insurance and help you to find the policy that best corresponds to your company’s needs.

Directors and officers insurance in Cyprus in 2025. Affordable directors and officers insurance quotes.

Fri, 15 Dec 2023 00:00:00 +0000

Directors and officers insurance Cyprus

Sometimes known as D&O insurance, directors and officers insurance protects managers and executives of a company for committed or alleged wrongful acts in managing a company.

This insurance product, which commonly protects the company as well as individuals, covers legal fees, settlements, and other costs associated with D&O claims.

Directors and officers insurance is an indispensable insurance product in Cyprus, and we aim to help you find the best and most affordable contract in Cyprus throughout this guide.

Medical insurance in Cyprus in 2025. Best medical insurance in Cyprus.

Fri, 15 Dec 2023 00:00:00 +0000

Medical Insurance Cyprus

Medical insurance provides you with a financial safety net in acute situations and critical emergencies, but how can it benefit you, and what does medical insurance cover in Cyprus?

In this guide to medical insurance plans, we will examine what you need to know to make the best insurance purchase.

We will assess the types of medical insurance available and their benefits to help you find the best medical insurance in Cyprus.

Whole life insurance in Cyprus in 2025. A complete guide for whole life insurance.

Fri, 15 Dec 2023 00:00:00 +0000

Whole life insurance in Cyprus

Buying life insurance can be a lifeline for you and your loved ones. It protects your dependents (spouse and children) from significant financial losses that could result if something unexpected happened to you.

It provides financial security and helps to pay off mortgages, living expenses, such as tuition for your children, and any medical or final expenses.

Whole life insurance is more than simple life insurance since it also helps you save money for your pension or a rainy day.

Immigration Medical Insurance in Cyprus in 2025. Health insurance in Cyprus.

Thu, 14 Dec 2023 00:00:00 +0000

Insurance for immigration in Cyprus

If you plan to move to Cyprus, you must acquire immigration insurance.

In this analytical guide to immigration insurance in Cyprus, we will analyse the country’s various residency and work regimes and explain which requires immigration insurance.

We will then explain how immigration insurance works, the main types of coverage, and advise you on the most affordable contracts.

Table of contents

What is immigration medical insurance in Cyprus?
Immigration medical insurance coverages
Claims of immigration medical history
Pink Slip Insurance in Cyprus
Yellow Slip Insurance in Cyprus
Work Permit Insurance in Cyprus
Immigration Insurance FAQ
Immigration medical insurance cost
Best immigration medical insurance in Cyprus
Online immigration medical insurance
Affordable immigration medical insurance quotes
Immigration medical insurance quotes

What is immigration medical insurance in Cyprus?

Immigration medical insurance is a compulsory policy for all non-EU residents wishing to acquire any residency status in Cyprus (temporary or permanent) and for most EU citizens wishing to permanently live or work in Cyprus.

Travel insurance in Cyprus in 2025. Affordable travel insurance in Cyprus.

Thu, 14 Dec 2023 00:00:00 +0000

Travel Insurance Cyprus

Travel insurance is an insurance product designed to protect you against risks and financial losses that can occur while travelling.

The risks range from minor inconveniences, such as missed airline connections and delayed luggage, to more severe issues, including injuries or major illness.

There is a large spectrum of travel insurance contracts in Cyprus. Each contract has significant differences, and for this reason, the cost varies significantly.

Keyman insurance in 2025. A complete guide.

Tue, 12 Dec 2023 00:00:00 +0000

Keyman insurance

Also called key man or key person insurance, keyman insurance is essential for businesses that want to insure their core employees.

This guide to keyman life insurance will help you determine if this life insurance product is right for your business and help you choose the best keyman insurance policy.

Table of contents

What is keyman insurance?
Types of keyman insurance
Keyman insurance tax deductible
Keyman insurance cost
Affordable keyman insurance
Best keyman insurance policy
Keyman insurance online
Keyman insurance quotes
Keyman insurance FAQ

What is keyman insurance?

Keyman insurance is designed to insure employees who are difficult to replace. The term “key man” refers to a company’s most valuable employees.

Car insurance in Cyprus in 2025. A complete guide to car insurance in Cyprus.

Sun, 10 Dec 2023 00:00:00 +0000

Car insurance Cyprus

Acquiring the correct car insurance contract in Cyprus can be difficult, especially if you are an inexperienced driver or not a Cypriot national.

In addition, there is a large spectrum of car insurance contracts to choose from, with significant differences in terms.

Cypriot insurance companies also have unique claim management procedures that differ from their competition. Therefore, the ability and willingness of these companies to pay claims vary significantly.

Cyprus immigration requirements in 2025. A complete guide for expatriates.

Sun, 10 Dec 2023 00:00:00 +0000

Cyprus Immigration Requirements

In this guide to Cyprus immigration requirements, we will cover the primary schemes and permits that can be acquired to immigrate to Cyprus.

There are three primary schemes for citizens to reside in Cyprus legally.

Pink Slip: This scheme is for non-EU citizens who want to live, work or study in Cyprus.
Yellow Slip: This scheme is for EU citizens who want to reside and work in Cyprus.
Permanent Residency: This scheme is for non-EU residents who want to live in Cyprus permanently (but not to work) by acquiring a house.

Read on to find out about the following Cyprus immigration permits.

Health Insurance in Cyprus in 2025. A complete guide.

Thu, 07 Dec 2023 00:00:00 +0000

Health Insurance Cyprus

Health insurance can financially protect you in an acute or emergency situation, but what is it, and how does health insurance work in Cyprus?

In this guide to health insurance plans in Cyprus, we will cover everything you need to know.

We will assess the types of health insurance – their benefits and help you compare insurance plans to find the best health insurance in Cyprus.

In addition, we will compare private health insurance with the publicly accessible General Health System of Cyprus and examine whether health insurance is still useful for you.

What is twisting in insurance? Everything you need to know

Mon, 21 Aug 2023 00:00:00 +0000

Introduction. What is twisting in insurance?

In short, twisting is the act of inducing or attempting to induce a policy owner to drop an existing life insurance policy.

This act is intended to entice the insured to take out another policy that is substantially the same by using misrepresentations or incomplete comparisons of the advantages and disadvantages of the two policies.

Insurance policies such as life insurance policies are dynamic and constantly changing to include benefits and more options to make them versatile for policyholders.

Insurance in Larnaca. Affordable insurance in Larnaca.

Thu, 17 Aug 2023 00:00:00 +0000

A complete guide to insurance in Larnaca

Our complete guide to insurance in Larnaca will briefly highlight the various types of personal and business insurance contracts you can buy in the city.

We will also present what you can expect to pay for each contract, including the ranges, averages and minimums of most, and suggest easy ways to decrease the cost of your insurance. You might save hundreds or even thousands by following our advice.

How Long Do Accidents Stay On Car Insurance? A Complete Guide

Sun, 13 Aug 2023 00:00:00 +0000

How long do accidents stay on car insurance?

Car insurance premiums may increase as you age and become harder to obtain. However, you should always disclose your relevant information according to the law.

Disclosing previous accidents is also necessary, even if this will increase the price of your car insurance. Whether the incident at hand was your fault or not, disclosing the accident may help you further down the road. Withholding car accident information could make your insurance void.

Construction all risk insurance. A complete guide

Sun, 06 Aug 2023 00:00:00 +0000

Construction all risk insurance

As suggested by its name, construction all risk insurance is an insurance policy that covers “all risks.” These risks are normally associated with the hazards and incidents that might arise during the course of a construction project.

Commonly issued under the joint names of a contractor and the client, or a business and its customer, all risk insurances usually include various coverages in one policy. Moreover, two specific types of insurance are combined in an all risk policy.

Electrical contractors insurance. What is electrical contractors insurance?

Wed, 02 Aug 2023 00:00:00 +0000

Introduction to electrical contractors insurance

Electrical contractors play a key role in our infrastructure, ensuring that homes and businesses have the necessary energy that they need to function.

Some people who are drawn to the electrician profession opt to work with an existing business, while others decide to set off on their own as electrical contractors.

Whichever role you consider taking or have, understanding the operating costs of running an electrical contracting business is essential.

Is Life Insurance Worth It? A Comprehensive Guide About Life Insurance And Its Alternatives

Fri, 28 Jul 2023 00:00:00 +0000

Is life insurance worth it?

If you currently have life insurance or are weighing up your options, you may wonder if life insurance is worth it. Life insurance can be a worthwhile investment in all circumstances. But there are some exceptions to this rule. A life insurance policy can payout more than many can afford to save in their lifetime. However, life insurance has its disadvantages and may not be the best option for everyone.

What is Face Amount in Life insurance? Everything you need to know.

Wed, 26 Jul 2023 00:00:00 +0000

Overview

The face amount in life insurance is the sum equated to the life insurance policy's worth, also known as the death benefit or the face value of life insurance. In short, the face amount is the sum of money owed to your chosen beneficiary when the policy expires.

In this article, we will cover face amounts in life insurance.

What is face amount in life insurance?

Your face value, or face amount, is the sum of money your beneficiaries will be owed at the time of your death. Face value is sometimes used interchangeably with a death benefit, coverage amount, or face amount. When you buy life insurance, this coverage is what you’re paying for.

Social insurance in Cyprus in 2025. A complete guide.

Fri, 14 Jul 2023 00:00:00 +0000

Social insurance Cyprus

In this guide we will cover everything that businessmen, self-employed people and employees must know about the social insurance system of Cyprus.

We will cover the types of contributions, how social insurances affect income tax, and details about the system in general.

Specifically, we will cover the following topics:

Table of contents

Social insurance contributions Cyprus
Gesy contributions 2024
Cyprus self employed social insurance
Social insurance number Cyprus
How do social insurances affect your income tax?
How can I reduce my social insurance contributions?
Cyprus social insurance calculator
Social insurance Cyprus working hours
Social insurance Cyprus offices in all cities
Cyprus social insurance law
Cyprus social insurance penalties
Social insurance payment in Cyprus
Social insurance fund Cyprus

Social insurance contributions Cyprus

The table below shows the percentile of social insurance contributions in Cyprus.

Does Liability Insurance Cover Theft? Everything You Need To Know

Thu, 13 Jul 2023 00:00:00 +0000

Does Liability Insurance Cover Theft Overview

Does liability insurance cover theft? Unfortunately, many of us have had to ask ourselves that question from experience. It’s bad enough to be at the location where you last parked your car only to find out it’s been stolen. Then, not surprisingly, it’s even worse when you realize you don’t have the type of insurance to cover the loss.

We cover more than liability insurance and car incidents such as theft at Pitsas Insurances. We also like to ensure that our customers understand their many insurance options, so in this article, we will ask the right questions surrounding liability insurance and theft.

Foreigners health insurance in Cyprus. Cheap immigration insurance.

Sat, 08 Jul 2023 00:00:00 +0000

Insurance for immigration in Cyprus

Any foreigner planning to move to Cyprus must acquire health insurance for foreigners.

In this guide to foreigners health insurance in Cyprus, we will analyse the various residency scheme options in the country and explain which immigration insurance is required for each.

We will also examine how immigration insurance in Cyprus works, the main types of coverage you can buy, and advise you on how to acquire an affordable contract.

Group health insurance in Cyprus in 2025. A complete guide on group health insurance in Cyprus.

Fri, 30 Jun 2023 00:00:00 +0000

Group Health Insurance in Cyprus

Group health insurance is a type of medical insurance plan offered by an employer to its employees and family members. It is an attractive health insurance option with many advantages compared to a standard individual policy.

Like most standard health insurance, a group health insurance policy covers medical expenses for cases of disease or accidental bodily injury.

This article will guide you through all of the available group health insurance options in Cyprus.

Professional Indemnity Insurance in Cyprus in 2025. A complete guide on Professional Indemnity Cover in Cyprus.

Tue, 20 Jun 2023 00:00:00 +0000

Professional Indemnity Insurance in Cyprus

Professional indemnity, otherwise known as errors and omissions (E&O) insurance, protects businesses against professional mistakes regarding their company’s services.

Professional Indemnity Insurance Cyprus

Even experts make mistakes. In some cases, you might be falsely accused of making mistakes.

In any case, financial protection for legal defence costs can be a lifeline for your business.

Suppose a client sues your company for professional mistakes that allegedly harmed them. In that case, professional indemnity insurance can shield you from paying out-of-pocket costs for legal and potential compensation fees.

Expat insurance in Cyprus. Affordable expat insurance in Cyprus.

Sun, 14 May 2023 00:00:00 +0000

Expat Insurance in Cyprus

In this analytical guide to expat insurance in Cyprus, we will examine the main types of insurance available in the country and what each covers.

Additionally, we will present the average and minimum cost of most insurance contracts in Cyprus and what you can expect to pay for expat insurance.

We will also suggest easy and clever ways to decrease the cost of your insurance. You can save up to thousands on one contract by following our advice.

Insurance in Nicosia. Affordable insurance in Nicosia.

Fri, 12 May 2023 00:00:00 +0000

A complete guide to insurance in Nicosia

This complete guide to insurance in Nicosia will cover the various types of insurance you will find in the country’s capital.

The types of insurance products that are sold in Cyprus are divided into two broad categories known as individual and business insurance.

We will present the range, average and minimum cost of these insurances and suggest clever methods for decreasing the cost of your insurance.

What is variable life insurance? A complete guide.

Thu, 11 May 2023 00:00:00 +0000

Variable life insurance

Variable life coverage is a type of permanent life insurance. It includes a cash value, investment variety, fixed premiums, and death benefits.

Variable life insurance offers protection for the lifespan of an insured individual so long as premiums are paid.

In this guide to variable life insurance, we will examine what it is, when you might need it, and compare it with variable universal life insurance.

Table of contents

Insurance in Paphos. Affordable insurance in Paphos.

Sun, 07 May 2023 00:00:00 +0000

Insurance Paphos – A complete guide

In this detailed guide to insurance in Paphos, we will examine the common types of insurance contracts you can buy in the coastal city in the southwest of the island.

Specifically, we will present the two categories of which these insurances are classified: individual and business insurance.

We will also provide the costs of most insurance contracts, i.e., the ranges, averages and minimums and suggest clever ways to decrease the price of your premiums.

What is term life insurance no medical exam? No medical questions life insurance. A complete guide.

Sat, 06 May 2023 00:00:00 +0000

Term life insurance no medical exam

Buying life insurance doesn’t need to be complicated.

Some policies allow you to simplify the process even further by offering life insurance that doesn’t involve a medical exam.

Term life insurance no medical exam is among the easiest ways to get the life insurance protection you need.

This type of insurance may appeal to you for reasons other than speed. Depending on your needs, life insurance with no medical exams may be precisely what you want.

What is senior life insurance? A complete guide to life insurance for seniors.

Wed, 03 May 2023 00:00:00 +0000

Senior life insurance

Life insurance is a wise choice at any age, but what you need from life insurance changes as you get older.

A single 30-year-old and a married 60-year-old will have different life insurance needs.

As a senior, you may consider buying insurance as financial protection for your loved ones and to meet your needs toward the end of your life.

Here’s all you need to know about senior life insurance to determine if it’s right for your needs.

Insurance in Limassol. Affordable insurance in Limassol.

Fri, 14 Apr 2023 00:00:00 +0000

Insurance in Limassol – A complete guide

This complete guide to insurance in Limassol will analytically cover the main types of individual and business insurance contracts available in the city.

We will examine the price range of most of these insurance contracts, including the average and minimum prices. We will also suggest various ways to reduce the price of these insurances.

You will know how to cut costs on your insurance by the end of this guide and potentially save thousands on just one contract.

Water damage insurance claims. The best tips for handling a water damage insurance claim.

Wed, 12 Apr 2023 00:00:00 +0000

Water damage insurance claims

Water damage is one of the most significant risks to your house. It’s essential to know what your home policy covers in case your home suffers water damage.

Most standard home insurance policies cover water damage if the cause is sudden, internal, and accidental. Whether the water damage is covered depends on the source and circumstance.

Water damage caused by outside flooding is typically not covered.

How do insurance companies pay out claims? A complete guide.

Tue, 11 Apr 2023 00:00:00 +0000

How do insurance companies pay out claims?

When you purchase a home or auto policy, you do so to have peace of mind that your house and vehicle are protected. You might not need to reach for your insurance policy until there’s an emergency.

You should file a claim if you suffer a covered loss, but how do you do that?

The process will vary depending on the provider. However, there is a general process for submitting insurance claims.

Car insurance claims. Car accident insurance claims.

Mon, 10 Apr 2023 00:00:00 +0000

Car insurance claims

You may need to file a claim under your auto insurance policy to get your vehicle repaired if you are involved in an accident.

This guide to car insurance claims will examine non-fault claims and what to consider before your vehicle is repaired.

What is a non-fault claim?
Car insurance claims not my fault
Paying excess not my fault
How long do car insurance claims take
How to prevent delays when you file a claim
Car accident insurance claims
Car insurance claims FAQs

To learn more about the types of claims in insurance, see our guide, Claims In Insurance.

Life insurance claims. A complete guide.

Sat, 08 Apr 2023 00:00:00 +0000

Life insurance claims

When purchasing life insurance, the involved parties need to understand the process of receiving death benefits.

Life insurance benefits can be invaluable during a difficult time, but how do life insurance claims work?

We will examine the life insurance claims process in this guide.

Table of contents

What is a life insurance payout?
How do life insurance payouts work?
When should you contact the insurer?
The life insurance claim process
Potential issues with life insurance claims
Life insurance claims FAQ

What is a life insurance payout?

A payout is a sum of money that is paid to a beneficiary (or beneficiaries) when the policyholder dies, as agreed by the insurance provider and the insured’s contract.

Claims in insurance. Insurance claims meaning.

Fri, 07 Apr 2023 00:00:00 +0000

Claims in insurance

Insurance claims include many types ranging from medical bills, property damage, car accident injuries, and life insurance death benefits.

Insurance claims meaning

A claim is a policyholder’s request to an insurance company for payment, asking for coverage or compensation for a covered loss. These claims are typically for medical bills or to repair damaged property.

For example, if a fire has damaged a homeowner’s house, they will file a claim that involves asking their insurance providers to pay for any repairs.

Larnaca insurance. Affordable insurance in Larnaca.

Wed, 05 Apr 2023 00:00:00 +0000

Larnaca Insurance – A Complete Guide

In our complete guide to Larnaca insurance, we will briefly cover the main types of personal and business insurance contracts you can expect to find in Larnaca.

We will also present what you can expect to pay, including the ranges, averages and minimums of most insurance contracts, and suggest simple ways to lower your insurance costs.

Following our advice, you might save hundreds or even thousands on your insurance policies.

Home insurance claims. Insurance claims home.

Mon, 03 Apr 2023 00:00:00 +0000

Home insurance claims

If an unfortunate incident occurs at home, you might need to file a home insurance claim with your insurance provider.

For example, an unexpected weather event causes structural damage to your house, a burglar steals your possessions, or an unfortunate accident injures a visitor.

A home insurance claim against your homeowner policy comes with rules and procedures that you and your insurance provider must follow.

While all insurance providers handle claims differently, we will cover the standard steps of the process.

Insurance in Famagusta. Affordable insurance in Famagusta.

Sun, 02 Apr 2023 00:00:00 +0000

A complete guide to insurance in Famagusta

In our complete guide to insurance in Famagusta, we will inform you of the various types of insurance available to purchase and what each covers.

We will discuss the coverage details, how much each insurance costs, and present the price ranges of most contracts.

In addition, we will suggest easy ways to lower the overall cost of your insurance in Famagusta, helping you save up to thousands on one insurance policy or allowing you to buy additional inexpensive insurance contracts.

Reasons insurance companies deny fire claims. A complete guide.

Sat, 01 Apr 2023 00:00:00 +0000

Fire insurance claims

Regarding fire claims under your home policy, filing an appeal and successfully receiving the settlement you deserve is possible. However, your insurance company has the right to deny your claim for specific reasons.

Research suggests that home insurance claims have the lowest success rate out of all insurance claims. In contrast, car insurance claims have the highest success rate and are nearly always successful.

Understanding why insurance companies reject fire claims can increase your chances of a successful claim, even if it doesn’t guarantee that your insurer will pay out.

Hit and run insurance claims. A complete guide.

Tue, 28 Mar 2023 00:00:00 +0000

Hit and run insurance claims

Before examining how hit-and-run claims work, let’s examine what makes an accident a hit-and-run.

According to traffic law, a hit-and-run is an act of a driver knowingly causing an accident and fleeing the scene.

Like any accident, it’s important to document the accident for your insurance company and the police. However, the claims process will be more challenging if one driver flees the scene.

To complicate matters, you may not see the accident if your car was parked or see their license plate details if you’re in the car and stunned by the incident.

Which area is not protected by most homeowners insurance?

Mon, 27 Mar 2023 00:00:00 +0000

What is covered by homeowners insurance?

Knowing what your homeowner's insurance covers often requires reading the small print of your policy. Even though all home insurance coverage is different, almost all policies share similarities and have coverages in common.

Homeowners insurance typically protects you financially from damages related to your home and its contents. Whether your house is burgled or a fire causes irreparable damages, a homeowners' insurance policy can pay for repairs, replacements, or rebuilding of the structure altogether.

Life insurance when buying a house. What type of life insurance do I need?

Sun, 26 Mar 2023 00:00:00 +0000

Life insurance when buying a house

Life insurance might have been one of the last things on your mind, but if you are in the process of buying a house, it’s the perfect time to find out whether you need it or not.

This guide examines everything you need to know about life insurance when buying a house.

Table of contents

What type of life insurance do I need?
Types of life insurance policies
What type of policy do I need?
Taking out life insurance when buying a house
Differences between life and mortgage life insurance
Life insurance for homeowners FAQ
Life insurance cost

What type of life insurance do I need?

The first step to buying the right policy is understanding the type of life insurance you need.

How many life insurance policies can you have? Can I have more than one life insurance policy?

Sat, 25 Mar 2023 00:00:00 +0000

How many life insurance policies can you have?

If you already have life insurance but think you need more coverage, you may wonder whether getting more than one life insurance policy is possible.

You are allowed to carry more than one policy, but that doesn’t mean you need to have many. It’s sometimes best to have a single policy that meets all of your needs.

On the surface, having more than one policy sounds like a great idea, but there are times when it’s not necessary to have multiple policies. It all depends on your needs and circumstances.

House cleaning insurance in 2025. What is house cleaning insurance?

Fri, 24 Mar 2023 00:00:00 +0000

House cleaning insurance

Mistakes and accidents can be an unpleasant surprise in a haze of dusting, sweeping, and cleaning products. But these mishaps don’t have to derail your work schedule and business.

Whether you work independently or as part of a team, cleaning insurance protects you against unexpected costs.

This guide to insurance for house cleaners will examine all you need to know about house cleaning insurance.

Table of contents

Does health insurance cover car accident bills? How does health insurance cover car accident injuries?

Thu, 23 Mar 2023 00:00:00 +0000

Using health insurance for car accident bills

Many car accident victims want to know whether their health insurance covers car accident injuries.

In short, your health insurance can cover car accident claims, but how and when your policy takes effect is dependent on several factors.

Most health insurance plans cover bills for injuries sustained in car accidents, but restrictions will apply based on individual policy limits and provisions.

Depending on your coverage, your healthcare provider may request your health and auto insurance information if you seek treatment for injuries related to a car accident.

Workers’ compensation insurance in 2025. What is workers’ compensation insurance?

Wed, 22 Mar 2023 00:00:00 +0000

Workers' compensation insurance in 2023. What is workers' compensation insurance?

Employers are legally obligated to ensure that their workplaces are safe for their employees. Nevertheless, accidents do happen. When accidents do occur, workers' compensation insurance provides coverage.

Workers' compensation pays vital benefits to employees when they are injured or sick resulting from working for their employer.

This guide to workers' compensation insurance will cover what it is and why small businesses and contractors need it.

Student house insurance in 2025. What is student house insurance?

Tue, 21 Mar 2023 00:00:00 +0000

Student house insurance

In short, student house insurance (also called student contents insurance) protects your belongings while you are living on university premises.

If you’re a first-year student staying in university accommodation, you may already have contents insurance through your accommodation provider. However, you need to find out if this is the case.

In this guide, we will help you ask the right questions and discuss everything you need to know about student house insurance.

What is hazard insurance? How hazard insurance works.

Tue, 21 Mar 2023 00:00:00 +0000

Hazard insurance

An integral part of buying a house is determining what kinds of insurance coverage you need. In the selection you choose, you may need to purchase hazard insurance.

Although it is necessary in many cases, hazard insurance isn’t a common choice, and many people don’t know why they might need it.

If you’re confused about hazard insurance and what it can do for you, our guide will tell you everything you need to know.

House renovation insurance in 2025. What is home renovation insurance?

Mon, 20 Mar 2023 00:00:00 +0000

House renovation insurance

Your homeowners' insurance premiums depend on factors like your home's size, condition, and location.

Furthermore, the cost to rebuild your house also determines the amount of your home insurance, so what happens if those factors change?

Suppose you add an extension or update the fittings in your bathroom. Will your homeowners' insurance cover renovations?

If you plan to renovate your home, here's what you should know about house renovation insurance.

How to negotiate a settlement with an insurance claims adjuster.

Mon, 20 Mar 2023 00:00:00 +0000

How to negotiate a settlement with an insurance claims adjuster

Whether you’ve been in an auto accident, had your car stolen, or it has been otherwise damaged, you will need to file a car insurance claim with your insurance company.

As you take the necessary action to be compensated fairly, negotiating a better settlement on your car insurance claim can be stressful.

The insurance adjuster’s role is to resolve the claim as quickly as possible and as cheaply as possible for the insurance company. This can cause a frustrating experience for you as the insured.

Inland marine insurance in 2025. What is inland marine insurance?

Sun, 19 Mar 2023 00:00:00 +0000

Inland marine insurance

Contrary to what is suggested by its name, inland marine insurance isn’t designed for boats. Its name derives from “ocean marine insurance,” when ocean shipping was predominant.

The original name of this insurance was modified to “inland marine” as inland shipping methods developed over the years.

These days, inland marine insurance is designed to protect your business property when it’s in transit or storage somewhere other than your primary business location.

Permanent health insurance in 2025. What is permanent health insurance?

Sun, 19 Mar 2023 00:00:00 +0000

Permanent health insurance in 2023. What is permanent health insurance?

Many of us would find it challenging to pay for our outgoings, such as mortgage and rent, if we lost our income due to an illness or accident.

That's where permanent health insurance comes in. This insurance type is a long-term policy that ensures a steady income stream until you can return to work or until you retire.

Our guide will examine how permanent health insurance works and when you might need it. We will also cover what you need to look out for if you buy it.

What is voluntary life insurance? Types of voluntary life insurance.

Sun, 19 Mar 2023 00:00:00 +0000

What is voluntary life insurance? Types of voluntary life insurance.

Standard life insurance can help to protect loved ones, providing financial security in the event of a death and when a main source of income is lost.

Voluntary life insurance is a form of life insurance purchased by employers that employees can opt into upon employment. However, most employees must keep the policy active by paying scheduled premiums.

This guide will cover how voluntary life insurance can benefit both employers and employees.

Business income insurance in 2025. What is business income insurance?

Sat, 18 Mar 2023 00:00:00 +0000

Business income insurance in 2023. What is business income insurance?

Suppose a business suffered a fire and had to stop trading. In a situation like that, the business' revenue may decline or stop altogether.

While property coverage will protect the business from physical damage, business income coverage could protect against financial losses when the company cannot operate.

Table of contents

What is business income insurance?
Who can benefit from business income insurance?
What does business income insurance cover?
What is not covered by business income?
What expenses are covered by business income?
Examples of business income coverage
Additional options and endorsements
Business income insurance key terms
Business income insurance FAQ
Business income insurance cost

What is business income insurance?

Business income insurance (or business interruption insurance) can cover lost income when a company cannot operate due to specific perils covered in the policy.

Guest house insurance in 2025. What is guest house insurance?

Sat, 18 Mar 2023 00:00:00 +0000

Guest house insurance in 2023. What is guest house insurance?

Running a guest house or a bed and breakfast business can be very rewarding but comes with many risks. The best aspect of running a guest house may be providing a welcoming stay for your guests while being your own boss.

With that comes the risks you must consider, from damage to your guest's belongings to faulty freezers or a kitchen fire. The risks are many, and you face them daily on your premises.

Athlete insurance in 2025. What is athlete insurance?

Fri, 17 Mar 2023 00:00:00 +0000

Athlete Insurance in 2023. What is athlete insurance?

From professional leagues to amateur clubs, all athletes understand the risks associated with their chosen sport. To mitigate the risks they face, athlete insurance is a must.

Athlete insurance, also known as sports insurance, is a broad term that generally covers a range of various policies available to protect sportspeople and health and fitness professionals.

Successful athletes take accountability for the liabilities they are bound to, both for their health protection and financial security.

Restaurant insurance in 2025. A complete guide.

Fri, 17 Mar 2023 00:00:00 +0000

Restaurant insurance

The fast-paced nature of running a restaurant comes with daily risks. From the crowds of customers to busy kitchens – customers and staff members face many hazards.

Owning a restaurant may come with many challenges, but it isn't without its rewards. To protect your business, it's vital to have the right insurance in place.

In this guide to restaurant insurance, we will examine the different types available to you and provide the answers you need to make your decision.

Drive away insurance in 2025. Explain drive away insurance.

Thu, 16 Mar 2023 00:00:00 +0000

Drive away insurance

Buying a new car and taking it home is an exciting event. With that buzz comes the practical task of sorting out your insurance.

For such cases, it’s important to know what drive away insurance is and if you need it.

If your new car is uninsured, you could be exposed to significant risk without car insurance or temporary drive away insurance.

In this guide to drive away insurance, we will examine all there is to know about this type of coverage.

Public house insurance in 2025. A complete guide.

Thu, 16 Mar 2023 00:00:00 +0000

Public house insurance

As a public house owner, you have your fair share of work to take care of. Having the right insurance coverage for your business is essential.

First and foremost, public house insurance protects the public – your customers, and it should also protect your employees, buildings, and assets.

Managing a public house comes with many risks, and there are various coverage types you can choose to protect yourself.

Bar insurance in 2025. A complete guide.

Wed, 15 Mar 2023 00:00:00 +0000

Bar insurance

As a bar owner, you will have invested a vast amount of money and time into your establishment. Further, your bar's success relies on your local reputation and ability to care for your customers.

Without the right bar insurance, you could lose your hard-earned money and reputation in a single accident. To avoid that scenario, you should ensure you are adequately protected.

Bar insurance (also known as tavern insurance) is a type of commercial insurance designed to meet the unique needs of bars, taverns, and pubs.

Digital Nomad Visa Cyprus in 2025. A complete guide.

Wed, 15 Mar 2023 00:00:00 +0000

Cyprus Digital Nomad Visa

The Cyprus Digital Nomad Visa (or Digital Nomad Visa Scheme) was approved in 2021 to establish the country as a hub for electronic service provision.

The scheme aims to boost the economic development of Cyprus, attracting digital nomads worldwide to live and work in the country.

The non-EU/EEA nationals can temporarily reside and work in Cyprus with this visa scheme, but they can only independently work for persons located outside of Cyprus.

Vacant land insurance in 2025. A complete guide.

Tue, 14 Mar 2023 00:00:00 +0000

Vacant land insurance

While homeowners insurance protects against losses at home and covers buildings on a property and personal belongings, it generally does not cover vacant land. That’s why insurance for vacant land is often recommended as a separate policy.

Vacant land insurance financially protects landowners against misfortune accidents that could take place on their property.

You are at financial risk if you’re a landowner without vacant land insurance. From an insurance perspective, empty land still poses risks.

Skydiving insurance in 2025. A complete guide.

Mon, 13 Mar 2023 00:00:00 +0000

Skydiving insurance

Whether you’re planning to make your big jump at home or abroad, it’s essential to have insurance for skydiving.

Moreover, you need to know what type of insurance to get. Adequate skydiving insurance and the right coverage will protect you on your next daring adventure.

Whether it’s your first time diving or you’re a skydiving pro, you can rest assured knowing you have the right insurance.

Skydiving is on many people’s bucket lists, but not everyone knows what insurance they need for the activity. That’s why we created this guide to skydiving insurance.

Pub insurance in 2025. A complete guide.

Sun, 12 Mar 2023 00:00:00 +0000

Pub insurance

Pubs are a labor of love and require many hands to keep an operation going.

Managing a pub comes with everyday hazards and plenty of risks, so pub owners need the right pub insurance coverage to protect themselves.

Pubs work with the public, so they require liability insurance and more.

Table of contents

What does pub insurance cover?
Liability insurance for pub
Additional pub insurance coverage
How do I choose the right pub insurance?
Pub insurance FAQ
Pub insurance cost

What does pub insurance cover?

Pub and restaurant insurance, also known as public house insurance, is a policy for licensed business owners to protect their assets.

Diving insurance in 2025. A complete guide.

Sat, 11 Mar 2023 00:00:00 +0000

Diving insurance

Scuba diving is a relatively safe sport these days, especially when practiced within the limits of your training and experience. Still, diving can be hazardous, and accidents can happen.

Having the right diving insurance is essential. Not only for your peace of mind, but it can ensure you're covered for the risks associated with your specific diving needs.

Overall, scuba diving insurance covers unforeseen accidents that aren't covered under health or travel insurance policies.

Public liability insurance for contractors. A complete guide.

Fri, 10 Mar 2023 00:00:00 +0000

Public liability insurance for contractors

As an independent contractor, having the right insurance and protection for your business is vital, even if you run a small operation.

Independent businesses should ensure they have adequate coverage, as liability claims can bankrupt a small business.

If you do not have public liability insurance, you run the risk of using your own funds to protect your business.

This guide about public liability insurance for independent contractors will examine why you are required to carry this insurance.

General liability insurance for independent contractors. A complete guide.

Thu, 09 Mar 2023 00:00:00 +0000

General liability insurance for independent contractors introduction

You may run a smaller operation as an independent contractor, but having the right insurance and protection for your business is vital.

Liability claims can bankrupt a small business that doesn’t have the right insurance. Without commercial general liability insurance, you will have to pay out of pocket to protect your business.

This guide about general liability insurance for independent contractors will make sure you know your insurance options.

Insurance and bonding for contractors. A complete guide.

Thu, 09 Mar 2023 00:00:00 +0000

Insurance and bonding for contractors

Contractor bonds and business insurance protect businesses from financial losses after unexpected events while also helping to win clients.

Moreover, prospective clients often prefer doing business with contractors who carry the appropriate insurance coverage.

Depending on your industry and business clientele, you could be required to purchase business bonds before being hired.

While insurance and bonds vary, both are key to managing your business and mitigating the risks of the industry as a whole.

Holiday home insurance Cyprus in 2025. What is holiday home insurance?

Wed, 08 Mar 2023 00:00:00 +0000

Holiday home insurance

Holiday homes are more prone to theft and serious damage from fire, flood and leakages, in comparison to permanent homes, due to the fact that they are left unoccupied for long periods.

In addition to the above, the influx of guests increases the likelihood of property damage.

Additionally, you are obliged to register your holiday home in the CTO if you rent it to acquire public liability insurance of €100,000.

Professional indemnity insurance contractors in 2025. A comprehensive guide.

Tue, 07 Mar 2023 00:00:00 +0000

Professional indemnity insurance contractors

There is a general understanding of the need for construction contractors to carry public liability insurance.

However, there often needs to be more clarity about why contractors must also carry professional indemnity insurance.

This article will outline professional indemnity insurance for contractors and help to provide answers to your questions.

We will clarify the differences between professional indemnity insurance and public liability insurance claims and cover why professional indemnity insurance is important for the construction industry.

Paphos Insurance. Affordable insurance in Paphos.

Mon, 06 Mar 2023 00:00:00 +0000

A complete guide to Paphos insurance

In this analytical guide, we will present the insurance contracts you can expect to find in Paphos by covering the two main categories: individual and business insurance.

We will examine the average and minimum cost of most insurance contracts in Paphos as well as their ranges and suggest ways you can reduce the cost of your coverage.

By the end of this guide, you will know how to cut costs and potentially save thousands on one insurance contract.

Home insurance in Cyprus in 2025. Best home insurance in Cyprus.

Sun, 05 Mar 2023 00:00:00 +0000

Home insurance in Cyprus

Your home might be your most significant investment. Carrying home insurance and understanding what your policy covers could prove to be essential if you suffer from a covered risk.

In this guide to home insurance in Cyprus, we will highlight what types of home insurance you can find in the country and what each covers.

Additionally, we will cover what is excluded by most home insurance contracts, how to compare contracts and help you to find the best home insurance in Cyprus.

Plumbing insurance in 2025. A comprehensive guide.

Fri, 03 Mar 2023 00:00:00 +0000

Plumbing Insurance

Whether you're an established plumbing company or just beginning your career, it's advisable for plumbers to have plumber insurance.

Plumbing insurance ensures you are protected against various risks routinely faced by the industry. Both plumbers and plumbing contractors need adequate coverage.

Adequate coverage is essential to mitigate the risks you face on the job. One accident or wrong move could result in expensive damages and, at worst, even bankruptcy.

Nicosia Insurance. Affordable Insurance In Nicosia.

Wed, 01 Mar 2023 00:00:00 +0000

Nicosia Insurance – A Complete Guide

In our complete guide to Nicosia insurance, we will introduce you to the various types of individual and business insurance products provided in the country's capital.

We will also present the statistical range of insurance costs, including the averages and minimums for most insurance contracts.

We will then highlight practical ways to reduce your insurance costs in Nicosia, helping you save hundreds or maybe thousands on one policy.

Renters insurance in Cyprus in 2025. Best quotes.

Tue, 28 Feb 2023 00:00:00 +0000

Renters insurance in Cyprus

Sometimes referred to as tenant insurance, renters insurance can cover theft and content damage in a rented property.

Whether you rent a flat, house, or even student accommodation, acquiring renters insurance is advisable to protect your possessions in case of a covered accident.

We aim to explain why you should consider renters insurance throughout this guide. Specifically, we will examine the following topics about renters insurance in Cyprus.

Famagusta Insurance. Affordable insurance in Famagusta.

Fri, 17 Feb 2023 00:00:00 +0000

Famagusta Insurance – A Complete Guide

In this complete guide to Famagusta insurance, we will cover the key types of personal and business insurance contracts available for purchase in Famagusta and reveal what you can expect to pay for each.

We will include the ranges, averages and minimums of most contracts in Famagusta and share ways you can lower your insurance costs.

Using the advice outlined in this guide, you can potentially save thousands of euros on your insurance policies.

Homeowners insurance in Cyprus in 2025. Best homeowners insurance in Cyprus.

Wed, 15 Feb 2023 00:00:00 +0000

Homeowners insurance in Cyprus

Many people can’t afford to replace their belongings or rebuild their property after a disaster strikes at home, and that’s what homeowners insurance works to cover.

Homeowners insurance works to protect your property and personal belongings against covered damages.

This guide will cover how homeowners insurance works in Cyprus, how to find the best homeowner insurance in Cyprus and the following topics.

Table of contents

What does homeowners insurance cover?
Houseowner insurance exclusions
How much is homeowners insurance?
What is the rebuild cost for insurance purposes?
Homeowners insurance compare
Online homeowners insurance in Cyprus
Best homeowners insurance Cyprus
Cheap homeowners insurance in Cyprus
How to save money on your homeowners insurance
Homeowners insurance in Cyprus quote

What does homeowners insurance cover?

The terms across all homeowners insurance vary, but most policies contain common coverage.

Limassol Insurance. Affordable Insurance In Limassol.

Wed, 25 Jan 2023 00:00:00 +0000

Limassol Insurance – A Complete Guide

Numerous types of insurance contracts are available in Cyprus, all designed for various reasons. We will cover the main types of insurance that you can find in Limassol throughout this guide.

We will discuss what you should expect to pay for these insurance contracts, including the average and minimum prices and their ranges.

We will also give you tips on reducing your insurance’s overall cost. You can potentially save thousands on just one contract by using our advice.

Travel insurance claims. A complete guide.

Fri, 20 Jan 2023 00:00:00 +0000

Travel insurance claims

While travel insurance can’t prevent accidents, it can prevent you from paying out-of-pocket costs if the worst should happen.

Read this guide to travel insurance to find out how to make a successful travel insurance claim as hassle-free as possible.

Table of contents

When can I make a travel insurance claim?
How can I make a travel insurance claim?
What evidence should I provide when making a claim?
Travel insurance claim process
How do I make a claim while I’m traveling?
Should I make a claim when I get home?
Can I make a claim if I need to cancel or end my trip early?
Top tips for making a successful travel insurance claim
Travel insurance claims FAQ
Travel insurance cost

When can I make a travel insurance claim?

When you take out travel insurance, you can often choose what your policy covers.

Landlord insurance in Cyprus in 2025. A complete guide.

Tue, 17 Jan 2023 00:00:00 +0000

Landlord insurance

If you own property that you rent on a short-term or long-term basis, you need more than a standard homeowners policy to protect your investment.

Landlord insurance includes landlord-specific coverage and protects your rental property in ways home insurance cannot.

This guide will examine property insurance for landlords in Cyprus, when you need it, what it covers, and what you can expect to pay for it.

By the end of this guide, you will know how to find the best landlord insurance in Cyprus and the most affordable contract.

House Insurance in Cyprus in 2025. Best house insurance in Cyprus.

Tue, 20 Dec 2022 00:00:00 +0000

House insurance

Home insurance is an indispensable product in Cyprus for several reasons. Firstly, the country’s geographical location makes it prone to earthquakes, and additionally, the island has seen a rise in crime and home burglaries in recent years.

When you experience a disaster at home, whether caused by a fire, theft, or earthquake, it can be challenging to afford the replacement of belongings or to repair your property alone. Your home insurance will ensure you have financial help when you most need it.

Cyprus residency in 2025. How to get Cyprus residency.

Thu, 15 Dec 2022 00:00:00 +0000

Cyprus residency 2023

Gaining Cyprus residency is more straightforward than you might think.

The legal aspects of the immigration process are uncomplicated, and it's possible to gain residency in a relatively short period of time.

However, it's important to mention, you will need to know what type of visa you may need to apply for and what documentation you have to provide.

To help you throughout the process, we have created this article to cover everything you need to know about Cyprus residency in 2023 (with the new legislation changes as of May 2023).

Cyprus citizenship in 2025. A complete guide.

Wed, 14 Dec 2022 00:00:00 +0000

Cyprus citizenship in 2023

Cyprus citizenship entitles non-EU/non-EEA and non-Swiss nationals to reside in Cyprus as permanent residents.

Once foreign residents have acquired Cypriot citizenship, they can reside in the country with the same rights as Cypriot nationals.

Foreign nationals can invest a minimum of 300K into the country's economy to obtain the naturalization rights to reside in the country.

The citizenship by investment process makes the foreign national eligible to apply for permanent residency and then subsequently for Cyprus citizenship.

What is a quote in insurance? A complete guide

Tue, 13 Dec 2022 00:00:00 +0000

What is a quote in insurance?

An insurance quote is an official or unofficial offer provided by an insurance company. This offer presents the premium (i.e., cost of the insurance) and a short summary of the coverages and the terms of the insurance policy.

Prospective policyholders often ask for a quote to gain an idea of the cost of purchasing coverage, and they will often compare prices and coverage options on the market.

Cyprus Golden Visa in 2025. How to get a Cyprus Golden Visa.

Mon, 21 Nov 2022 00:00:00 +0000

Cyprus Golden Visa

The Cyprus Golden Visa entitles non-European Union nationals to reside in Cyprus as permanent residents with zero limitations.

Foreign nationals (and their qualifying dependents) must invest a minimum of €300,000 into the country’s economy. This process makes them eligible to apply for permanent residency.

This guide will examine how to get a Cyprus golden visa in 2023 and the following topics:

Table of contents

What is the Cyprus Golden Visa?

Cyprus residence permit in 2025. How to get a Cyprus residence permit.

Mon, 21 Nov 2022 00:00:00 +0000

Residence permit Cyprus

All foreign nationals who want to move to Cyprus have to obtain a Cyprus residence permit or a Cyprus immigration permit.

A Cyprus residency permit (for foreign nationals) allows persons travelling to Cyprus to legally reside in the country for longer than a short stay period of 90 days (three months).

Before obtaining the Cyprus residence permit, you must get a visa in your country of residence specifying your reason for travel.

Immigration permit Cyprus in 2025. Cyprus immigration permit.

Fri, 18 Nov 2022 00:00:00 +0000

Immigration permit Cyprus

Foreign nationals who want to move abroad to live in Cyprus have to obtain a Cyprus residence permit or a Cyprus immigration permit.

A Cyprus residence permit allows persons traveling to Cyprus to legally reside in the country for longer than a short stay (three months).

Before obtaining the Cyprus residence permit, you must get a visa in your country of residence specifying your reason for travel. After this time, and after arriving in Cyprus, you can apply for a residence permit.

Cyprus permanent residency guide in 2025.

Thu, 17 Nov 2022 00:00:00 +0000

Cyprus Permanent Residency

Cyprus Permanent Residency, also known as Cyprus Golden Visa, entitles non-EU citizens and their families to reside in Cyprus as permanent residents with no visa limitations.

In this comprehensive guide about Cyprus permanent residency, we will cover the following topics.

What is Cyprus permanent residency?
Types of permanent residency in Cyprus
Cyprus permanent residency by investment
Residency with the right to work
Cyprus permanent residency benefits
Cyprus permanent residency requirements

Cyprus work visa in 2025. How do I get a work visa in Cyprus?

Mon, 14 Nov 2022 00:00:00 +0000

Cyprus work visa

Cyprus has the lowest corporate tax in the Eurozone and is one of European Union’s fastest growing economies. Living and working in Cyprus comes with a host of benefits.

If you are a non-EU citizen who wants to work in Cyprus, you must first obtain a Cyprus work visa. Anyone traveling to Cyprus to work has to obtain the legal rights to do so.

We will cover what is required of you to obtain a Cyprus work visa in 2022.

Temporary Residence Permit Cyprus in 2025. A comprehensive guide.

Wed, 09 Nov 2022 00:00:00 +0000

Temporary Residence Permit Cyprus

Any non-EU national who wants to live in Cyprus temporarily has to obtain a Temporary Residence Permit Cyprus (also known as Pink Slip).

Before obtaining the permit, travellers must obtain an entry visa suitable for their stay in Cyprus. The type of visa will depend on the purpose of their stay, such as a work visa or a student visa.

Once they are in Cyprus, obtaining a temporary residence permit allows the visitors to extend their stay for more than the duration of their visa (90 days).

Building contractors insurance. A complete guide

Tue, 08 Nov 2022 00:00:00 +0000

Introduction to building contractors insurance

Several types of insurance are designed to protect developers, property owners, and contractors through the many stages of construction projects. In most cases, specific construction insurance policies are required for many of these projects.

In the following article, we'll explain what you need to know about building contractors insurance, the common types of policies available to you, and when you might need them.

In addition to reading our guide about building contractors insurance, make sure you check out the reputable insurance companies we've listed at the end of this article.

Course of construction insurance. A complete guide

Mon, 07 Nov 2022 00:00:00 +0000

Course of construction

Course of construction (COC) is a specialized type of insurance policy that is designed to cover “all risks.” These risks are typically associated with the hazards, accidents and incidents that might arise during the course of a construction project.

Course of construction insurance usually includes various coverages in one policy. Moreover, two specific types of insurance are combined in a course of construction policy.

We will cover everything you should know about course of construction insurance in our guide, including who requires this type of policy, and when it is commonly used.

Construction insurance. What is construction insurance?

Thu, 03 Nov 2022 00:00:00 +0000

Introduction to construction insurance

Several types of insurance are designed to protect developers, property owners and contractors through the many stages of construction projects. Furthermore, specific types of construction insurance policies are required for many of these construction projects.

In the following article, we'll explain what you need to know about construction insurance, the common types of policies available to you, and when you might need those policies.

Whatever your reason for researching insurance for construction, make sure you check out the reputable insurance companies we've listed below.

Pink Slip Cyprus in 2025. How to get pink slip Cyprus.

Wed, 02 Nov 2022 00:00:00 +0000

Pink Slip Cyprus

Any non-EU national who wants to temporarily live in Cyprus has to obtain a “Pink Slip” (also known as Cyprus temporary residence permit).

Before obtaining the pink slip, travellers must get an entry visa. The type of visa is dependent on the purpose they have traveled, such as a work visa or a student visa.

Once they are in Cyprus, the pink slip allows the visitors to extend their stay for more than the duration of their visa (3 months).

Subcontractors insurance. What is subcontractors insurance?

Wed, 02 Nov 2022 00:00:00 +0000

Introduction

Subcontractors insurance encompasses various business insurance coverages to suit small businesses and subcontractors.

Insurance for subcontractors protects against financial losses and debts resulting from serious work-related accidents and emergencies.

Our article will examine the following topics:

What is subcontractors insurance?
Who needs subcontractors insurance?
Are subcontractors covered under the contractor’s insurance?
What does subcontractor insurance cover?
What kind of insurance does a subcontractor need?
General liability insurance for subcontractors

Contractors Insurance. What is contractors insurance?

Tue, 01 Nov 2022 00:00:00 +0000

What is contractors insurance? Overview

The smooth running of a construction business doesn’t come without its risks. From large construction projects to minor home renovations, contractor insurance protects businesses from these risks while they do their job.

Contractors insurance is an umbrella term that encompasses various business insurance coverages required from a contractor.

Overall, contractors insurance is coverage that protects businesses from financial debts that can result from serious work-related accidents.

General liability insurance for contractors. What is general liability insurance for contractors?

Tue, 01 Nov 2022 00:00:00 +0000

General liability insurance for contractors introduction

The smooth running of any business requires the peace of mind which is offered by general liability insurance. In this case, contractors and construction businesses need adequate protection as they face many risks.

Whether you're meeting with clients on your business premises or working on a client's home, general liability insurance has you covered.

Contractor insurance protects businesses from risks while they do their job, from major reconstruction projects to minor renovations.

Car Insurance Refunds. Everything You Need To Know

Tue, 25 Oct 2022 00:00:00 +0000

Car insurance refund overview

You may be due a car insurance refund and require this information if you changed your car insurance policy, decide to cancel your policy, or if your insurance agent has cancelled or renewed your policy.

In this article, we will cover everything you need to know about car insurance refunds.

Do you get a refund if you cancel car insurance?

In short, yes, you will usually get a refund if you cancel your car insurance. However, there are some exceptions to consider.

How Do Life Insurance Companies Make Money? A Comprehensive Guide To Life Insurance

Tue, 25 Oct 2022 00:00:00 +0000

Overview

It’s no secret that life insurance companies make money. Insurers make millions of profits on their corporate tax returns year after year. The profitability of life insurance companies often leaves people wondering how they make their money, and the answer to that can be found by examining how life insurance works.

Topics included in this article:

How life insurance companies make money.
How life insurance works.
Types of life insurance.
Common life insurance scams.
How to prevent life insurance scams.

In this article, we will cover how insurance companies make money, and what that means for you as an insurance policyholder.

What is a car insurance declaration page? A comprehensive guide

Mon, 24 Oct 2022 00:00:00 +0000

Overview

When you are searching for a car insurance declaration, we understand you may have questions about the process of finding and deciding which insurance is best for you. In this article, we have covered the most frequently asked questions about car insurance declarations, deductibles, and policies.

Topics of discussion are as follows:

What exactly is a car insurance declaration page
Why you need an insurance declarations page
How to get an insurance declarations page
What is a car insurance policy
What does car insurance cover
Is a proof of insurance the same as a declaration page
What is a certificate of insurance
What is an insurance deductible
How to choose car insurance
Where to get a car insurance quote

What is a car insurance declaration page

A car insurance declarations page is a succinct summary of your policy provided by your insurance company.

What Is Direct Term Life Insurance? Everything You Should Know

Mon, 24 Oct 2022 00:00:00 +0000

What is term life insurance?

Term life insurance is a type of death benefit that pays the policyholder’s heirs throughout a specified period.

Once the specified period and policy expires, the policyholder can either renew their policy, or convert the policy to permanent coverage.

Term life insurance is distinct from life insurance. Life insurance offers different coverage, and it can be a lifetime policy. In contrast, term insurance tends to be shorter-term and is also the most affordable type of insurance.

What Is Voluntary Accident Insurance?

Mon, 24 Oct 2022 00:00:00 +0000

Overview

In this article, we will cover voluntary accident insurance in-depth, and group coverage with comparisons between the options of insurance types.

The topics we will cover are as follows:

What is voluntary accident insurance?
Types of voluntary accident insurance.
Group Critical Illness Insurance.
Group Life Insurance.
Voluntary Accident Insurance Cost.
What is the difference between group life and voluntary accident insurance?
Voluntary Accident Insurance Quotes.

What is voluntary accident insurance?

Voluntary accident insurance provides employees with added protection to meet their individual needs.

Cyprus Student Visa in 2024. How to get Cyprus student visa?

Thu, 20 Oct 2022 00:00:00 +0000

Cyprus student visa

If you are a non-EU citizen travelling to Cyprus to study, you will need to apply for a Cyprus student visa and a temporary residence permit.

Student visas can be obtained in your home country. You should get a student visa before arriving in Cyprus. This visa will allow you to legally enter and live in Cyprus for 3 months.

If your program of study is a long course and lasts longer than 90 days, you must obtain a temporary residence permit after your arrival.

How does Critical Illness Insurance Work? A Complete Guide

Thu, 20 Oct 2022 00:00:00 +0000

Critical illness insurance covers all the illnesses mentioned in the policy. It begins the day the waiting period ends and can be renewed until the maximum renewable age, which is the maximum age beyond which you won’t be able to renew your CI insurance policy.

At Pitsas Insurances, we offer two CI insurance policies. The basic plan covers almost all the common illnesses and the premium plan offers coverage for 32 illnesses. Both plans offer flexible pricing to help you choose premiums that won’t blow a hole in your pocket.

What illnesses are covered by critical illness insurance? A complete guide

Wed, 19 Oct 2022 00:00:00 +0000

Critical illness insurance covers all the illnesses mentioned in the policy. The coverage begins from the disease's diagnosis and includes everything that comes after, including the illness’s treatment, hospital visits, medicine purchases, hospital bills, and more.

At Pitsas Insurances, we offer two critical illness insurance policies. The basic plan covers the most common ailments and thus weighs lighter on the pocket. Our premium package is much more comprehensive as it covers 32 different conditions.

Business Interruption Insurance in Cyprus in 2025. A Comprehensive Guide

Tue, 18 Oct 2022 00:00:00 +0000

A fire in the building where your offices are located. A government-mandated closure of the road that clients use to reach your premises. A tree falling on the roof of your office. Such events can force you to temporarily shut down your business and lose income.

However, just because you’re temporarily closing your company doesn’t mean you must also say goodbye to the revenue it would have collected during that period. Provided you have business interruption insurance, you'll be covered for any/all income lost.

Roofing insurance. A comprehensive guide

Tue, 18 Oct 2022 00:00:00 +0000

Roofing insurance

Roofing contractors face daily risks and various kinds, varying from damages to client property and faulty installations to third-party injuries.

Considering their working circumstances, roofing contractors are involved in potentially dangerous situations every day, many of which are not covered under standard insurance policies.

As these accidents often result in claims not covered by standard contractors insurance, roofers must have the correct coverage to protect themselves. Furthermore, they will protect their business and their clients from harm.

What is Business Interruption Insurance? Definition of Business Interruption Insurance

Tue, 18 Oct 2022 00:00:00 +0000

Business interruption insurance can replace lost income when a covered event forces you to temporarily shut down your business. The covered events vary policy by policy, but usually include fire, theft or vandalism, as well as natural disasters such as lightning, wind or water.

Business interruption insurance helps you in more ways than one. By replacing the income you have lost by temporarily closing down your business, it helps ensure that the short-term closure doesn’t turn into a permanent one. You can thus think of it as a life-saver for your company.

Contractors public liability insurance. A complete guide

Tue, 04 Oct 2022 00:00:00 +0000

Contractors public liability insurance introduction

Contractor insurance protects businesses from risks known in the construction trade, offering contractors and tradesmen peace of mind to continue doing their work.

Contractors public liability insurance has you covered whether you're meeting with clients on-site or working on a client's home. This coverage ensures protection from major reconstruction projects to minor renovations, and it's a necessity for many types of businesses.

To be adequately covered, a contractor should have general public liability, workers' compensation, and other customized coverages that we will highlight in this article.

Yellow slip Cyprus in 2025. A comprehensive guide

Fri, 30 Sep 2022 00:00:00 +0000

Yellow Slip Cyprus

EU nationals need to apply for a “Registration Certificate” to live and work legally in Cyprus. This certificate is called “Yellow Slip”.

It is called “yellow” because it is printed on a yellow paper and it is available to all European citizens who wish to extend their stay in the Republic of Cyprus for specific reasons (working, searching for property etc.).

Any national of an EU or EEA member state is considered to be a European citizen for the purpose of the yellow slip application.

Cyprus work permit in 2025. Cyprus work permit requirements.

Thu, 08 Sep 2022 00:00:00 +0000

Cyprus work permit

Any non-EU national who wants to live and work in Cyprus has to obtain a Cyprus work permit.

Before obtaining a work permit, travelers must obtain an entry visa suitable for their stay in Cyprus. In this case, those seeking employment must travel on a work visa.

This comprehensive guide will cover everything related to the Cyprus work permit in 2022, including requirements to obtain a work permit Cyprus and how you can apply for it.

Commercial General Liability Insurance in 2025: A Complete Guide

Mon, 05 Sep 2022 00:00:00 +0000

Commercial general liability insurance is a form of business insurance that offers coverage against claims of injury, property damage, and illness filed against your organization. It mainly comes in handy to cover claims filed by members of the public against your business.

These claims could be as severe as a child hurting themselves with a defective toy you sold. Or they could be as benign as you accidentally spilling tea over a client's laptop. But since you can't predict the future, purchasing general liability insurance is your best bet.

Does Insurance Cover Medical Marijuana?

Mon, 05 Sep 2022 00:00:00 +0000

Does insurance cover medical marijuana?

The short answer is no.

Most insurance companies – whether public or private – won’t pay for medical marijuana recommendations. That means you don’t have much choice but to pay for your medical cannabis out-of-pocket.

This might seem confusing given that 37 states have already legalized the use of medical marijuana. But it is true. Cannabis is a Schedule 1 drug at the national level, meaning the federal law handles cannabis as a substance that could be abused or cause addiction.

Retroactive Insurance Coverage: What is Retroactive Coverage?

Mon, 05 Sep 2022 00:00:00 +0000

Retroactive insurance coverage refers to cover for services undertaken before the policy start date. It determines the earliest point in time from which the insurance cover applies. Any losses or incidents that occurred before this point won’t be covered by your policy.

Having said that, some policies give you the option to purchase retroactive insurance to get a cover for losses incurred before a specific date. Here’s what we’ll discuss in this article:

What does Critical Illness Insurance Cover? Everything You Need to Know

Mon, 05 Sep 2022 00:00:00 +0000

Critical illness insurance covers severe medical conditions and critical illnesses mentioned in the policy.

This form of insurance covers everything related to the disease’s diagnosis and treatment, such as doctor visits, medicine purchases, treatment costs, hospital bills, etc.

Pitsas Insurances provides two CI insurance policies.

Our basic package covers the most common health conditions, including heart attack, cancer, organ transplantation, kidney failure, and more. The premium package covers all these conditions plus 26 more.

Commercial Crime Insurance in 2025

Wed, 31 Aug 2022 00:00:00 +0000

Purchasing commercial crime insurance should be the top priority of every organization. Especially those in which employees handle financial transactions and records. Or in which employees are trusted with copyright material, valuable client property, and sensitive documents.

A commercial crime policy protects organizations against various crimes, such as employee dishonesty, computer fraud, ransom or extortion, cyber-attacks, counterfeit money, and more. Having commercial crime insurance could thus help companies avoid potentially huge losses.

Saving Funds in Cyprus

Mon, 08 Aug 2022 00:00:00 +0000

1.The Categories of the Funds

Savings funds in Cyprus can be classifed into three categories according to the level of risk they entail:

Conservative – Low-risk funds
Moderate – Medium-risk funds
Aggressive – High-risk funds

1.1. Low-Risk Funds

Low-Risk Funds are the most popular option in Cyprus, since they mostly invest on saving or investment products that carry low investment risk, such as cash funds, certificates of deposits, government bonds of western economies (>AA+) and corporate bonds from big companies (blue chips).

Saving Insurance – Private Pension – Tax Exemptions in Cyprus

Mon, 08 Aug 2022 00:00:00 +0000

1. Introduction

Savings insurance and private pensions are the only non-government saving plans accepted by the Cyprus tax authorities as being valid tax exemptions.

All owners of companies that are tax residents of Cyprus, as well as highly paid employees registered in the Cyprus Social Insurance system, can benefit from the exemptions.

Apart from offering significant tax deductions, a private pension can ensure a lower risk and a higher net return compared to certificates of deposits.

Tax Calculator for Natural Persons in Cyprus

Mon, 08 Aug 2022 00:00:00 +0000

A tax calculator is based on the following principles:

● The sum of tax reductions (namely, social insurances, savings insurance premiums, GHS – GESY contributions etc.) should not surpass 20% of income.

● In the case of natural persons, savings insurance should come with an obligatory life insurance. As an approximation, the insured capital should be at least 13 times the insurance premium (e.g. if the premium is 10,000, the insured capital should be at least 130,000 euro).

Tax on interest income in Cyprus in 2025. Special Contribution for Defence

Mon, 08 Aug 2022 00:00:00 +0000

Bank deposits’ interest in Cyprus is subject to a 30% yield tax called special contribution for defence.

The yield of bank deposits is either negative or very close to zero due to the expansionary monetary policy of the European Central Bank (ECB).

Inflation skyrocketing in 2022 will force the ECB to raise the basic interest rate to over 1%, but this is not expected to also significantly increase the savings interest rates of bank notes.

Terms and Conditions of Savings Insurance – Private Pensions in Cyprus

Mon, 08 Aug 2022 00:00:00 +0000

The main terms and conditions of savings insurance plans are mentioned below in brief.

1.The minimum insurance premium is 35 euro on a monthly basis and the minimum insured capital is €1,000.

2.In case the company is insured, the contract has €1,000 as the minimum insured capital amount.

3.Savings insurance can be paid annually (via bank transfer) or on a monthly basis using direct debit.

4.The maximum age acceptable for signing a contract is 70.

The benefits and risks of savings insurance in Cyprus

Mon, 08 Aug 2022 00:00:00 +0000

1. The benefits

1.1. Reduced risk – Risk diversification

Savings Insurance manages a particularly successful risk diversification, such that no independent investor could accomplish alone.

Savings insurance funds place investors’ assets in multiple certificate of deposits in triple A banks institutions in the USA, Germany, UK and Switzerland.

Funds of a clear investment nature invest investor’s money on bonds and stocks from different industries and countries.

This practically means that the safety of the contracting party’s savings does not depend on the credit rating of any individual organisation, industry, or country.

Marine Cargo Insurance in Cyprus in 2025: everything you need to know

Thu, 21 Jul 2022 00:00:00 +0000

The word ‘marine’ in marine cargo insurance is a misnomer. It indicates to the uninitiated that this type of insurance only covers goods transported by water. Where in reality, marine cargo insurance covers goods being shipped by sea, air, road, or any other mode of transportation.

Marine cargo insurance is a must-have for cargo owners, shipping corporations, and ship owners to protect their interests. Furthermore, in most cases, the export contracts require the exporter to obtain marine cargo insurance. Or else, the export contract won’t come into effect.

What is Personal Accident Insurance? Personal Accident Insurance in Cyprus in 2025

Wed, 20 Jul 2022 00:00:00 +0000

Personal accident insurance is a type of insurance that offers you financial compensation should you suffer an accident that leads to injury, disablement, or death. One of its main benefits is that it is applicable everywhere in the world, meaning that unlike many other types of insurances, you will be covered no matter where the accident happens.

Three types of events are covered by personal accident insurance. These include temporary disability, permanent disability, and death. In the first two events, the insured will be eligible for the compensation agreed upon under the policy. Otherwise, the nominees will be paid the entire sum.

Car Insurance Deductible: What is a Deductible in Car Insurance?

Tue, 21 Jun 2022 00:00:00 +0000

What is a car insurance deductible?

It is the amount you must pay when filing an insurance claim.

For instance, if your standard deductible is €400 and your repair bill is €3,000, you’ll have to pay €400, with the insurance company paying the remainder.

Bear in mind that the deductible only applies under certain conditions. For instance, you must pay it when you or someone who is covered by your insurance is driving your vehicle, and you or they have caused the accident.

What is Travel Insurance? Best travel insurance in Cyprus in 2025

Wed, 15 Jun 2022 00:00:00 +0000

What is travel insurance?

It is a type of insurance that offers financial protection against different risks associated with traveling. It covers medical emergencies, flight cancellations, lost luggage and various other losses that anyone can incur while traveling.

[Travel insurance](https://www.pitsasinsurances.com/en/article/travel-insurance-general-info/) usually kicks off from the day you begin your journey and ends the day you have reached your destination. You can purchase travel insurance policies for domestic as well as international trips. In this article, we’ll cover everything about travel insurance.

These include:

MetLife Pet Insurance Review in 2025. Good for Pet Parents on a Budget

Wed, 18 May 2022 16:22:00 +0000

MetLife Pet Insurance offers multiple perks to attract pet parents. It places no restrictions on eligible breeds, covers dogs and cats 8 weeks and older, and offers 100% reimbursement. Best of all, the accident coverage begins at midnight the day you sign up for the policy.

On the flip side, treatments or services provided outside the United States aren't covered. This might worry pet parents who regularly travel internationally. Also, unlike some of its competitors, it doesn't provide a plan for unlimited annual benefits.

Business Insurance for small and medium-sized businesses

Fri, 18 Mar 2022 00:00:00 +0000

What is business insurance?

Business insurance is a product with which you can preserve your capital and continue operations without financial loss. Suppose you've created your life's work, built up a good customer base, and are creating competition for other companies. In that case, it's worth taking care that it doesn't collapse in an instant due to unforeseen circumstances.

Of course, many young entrepreneurs try to save their own money and don't believe there could be a fire, an accident, or someone cheating on their money. But we must agree that it is pleasant to run a business with peace of mind knowing that you're covered.

Information Security and Data Protection

Thu, 10 Mar 2022 00:00:00 +0000

Are you aware that someone may be trying to steal your personal information? Like your first name, last name, photo, date of birth, address, etc. All the things you have written on your passport. And also, your school and class number. Well, in general, anything that allows you to identify a person. Why would they need that? Well, for example, attackers can create a copy of your page on social media and write different comments on your behalf, or even take out a loan, spend the money, get away with it, and leave the loan upon you.

Markel

Wed, 29 Dec 2021 00:00:00 +0000

Markel was founded in 1930 and has its headquarters in Richmond, Virginia.

It is one of the largest reinsurer companies in the world with core business the provision of insurance services to IT companies.

In 2018 the company’s total operating revenues surpassed $6 billion while its invested assets were $19.2 billion in the same year. It has 80 offices in 18 counties and employs 17, 400 associates.

Markel is listed No. 441 on the 2019 Fortune 500 List.

What is Business Insurance?

Tue, 28 Dec 2021 00:00:00 +0000

Business insurance is a comprehensive insurance contract that protects a company from losses and damages that may arise in the course of its business activities.

This article is available in Russian at the following link: Что такое бизнес-страхование?

Pitsas Insurances

Cyprus, Limassol

What is critical illness insurance? Critical Illness insurance in Cyprus in 2025

Wed, 22 Dec 2021 00:00:00 +0000

Critical illnesses are life-threatening illnesses that can cause significant damage to your life and health,

Critical illness insurance offers you financial compensation if you are diagnosed with a medical condition or critical illness covered under the policy. It is a tax-free, one-time lump sum payment that covers your entire treatment, should you need it.

When purchasing a critical illness policy, you must decide for how long the cover will last. This gives you the peace of mind that should something unfortunate happens to you during that period, your medical expenses will be taken care of.

Cyprus Health System

Tue, 21 Dec 2021 00:00:00 +0000

Cyprus health system is divided into the public and private sectors. The public health insurance system is regulated by the Ministry of Health and is funded by taxes.

Pitsas Insurances

Cyprus, Limassol

What is Investment Life Insurance?

Tue, 21 Dec 2021 00:00:00 +0000

Investment insurance is life insurance with an excellent opportunity to manage your savings by investing yourself. By choosing this life insurance, you take care of your loved ones and save for the future, making investments when the investment risk falls on you.

Pitsas Insurances

Cyprus, Limassol

Investment life insurance programs in Cyprus

Mon, 20 Dec 2021 00:00:00 +0000

Since 2014, Pitsas Insurance has been preparing analytical reviews that present the main life insurance products in Cyprus in comparison with the corresponding programs taking place in foreign countries.

This article is available in Greek and Russian.

Pitsas Insurances

Cyprus, Limassol

Interesting facts about life and health insurance

Tue, 14 Dec 2021 00:00:00 +0000

This article is available in Russian at the following link: Интересные факты о страховании жизни и здоровья

Director of Pitsas Insurances,

Antonis Theofanus

December 14, 2021

Limassol, Cyprus

Aetna

Thu, 07 Oct 2021 00:00:00 +0000

Aetna is a healthcare insurance company that was founded in 1853 in Hartford, Connecticut and sells health care insurance and related services.

The company's network includes 22.1 million medical members, 12.7 million dental members, 13.1 million pharmacy benefit management services members, 1,200,000 health-care professionals, over 690,000 primary care doctors and specialists, and over 5,700 hospitals.

For the last 25 years, Pitsas Insurances has been effectively promoting Aetna’s Group Medical Insurance in Cyprus, thus offering its clients access to high-level medical services.

ALC Health

Thu, 07 Oct 2021 00:00:00 +0000

For more than 15 years, ALC Health has been looking after the health of individuals, families and multinational companies across the world with a range of flexible and innovative international health insurance plans.

The company combines a wide range of language skills with an extensive knowledge of regional cultures thus providing local knowledge and global support expertise to its clients in more than 140 countries.

It specializes in international medical insurance, assistance services, expatriates, and travel insurance. ALC Health is a wholly owned subsidiary of International Medical Group.

Bupa

Thu, 07 Oct 2021 00:00:00 +0000

Established in the United Kingdom in 1947, Bupa has since grown to provide healthcare to more than 14 million customers in more than 190 countries all over the world (2019).

Bupa is famous for its high-quality medical insurance plans and its outstanding service.

For the last 10 years, Pitsas Insurances has been effectively promoting Bupa’s Group Medical Insurance in Cyprus, thus offering its clients access to high-level medical services.

Cigna

Thu, 07 Oct 2021 00:00:00 +0000

Cigna was founded in 1792 as Insurance Company of North America. It is a health services organization based in Bloomfield, Connecticut and Philadelphia, Pennsylvania.

The company has more than 165 million customer and patient relationships in more than 30 countries and jurisdictions and a global workforce of more than 74,000 employees.

Cigna ranked 65 on the 2019 Fortune 500 List.

For the last 5 years, Pitsas Insurances has been effectively promoting Cigna’s Group Medical Insurance in Cyprus, thus offering its clients access to high-level medical services.

Metlife

Thu, 07 Oct 2021 00:00:00 +0000

Metlife was founded in 1868. This company is one of the biggest insurance companies in providing life insurance policies.

With 100,000.000 clients in more than 40 countries and with an experience exceeding 150 years, Metlife has achieved a dynamic presence all over the world (2019).

MetLife Europe d.a.c. has been carrying out operations in Cyprus since 1955. For the last 25 years, Pitsas Insurances has been effectively promoting Metlife’s Group Medical Insurance in Cyprus, thus offering its clients access to high-level medical services.

PIMCO

Thu, 07 Oct 2021 00:00:00 +0000

Launched in 1971 in Newport Beach, California, PIMCO (Pacific Investment Management Company) is a leading global investment management firm focused on active fixed income management. PIMCO manages assets of $1.88 trillion entrusted to them by sovereign wealth funds, commercial and investment banks, public and private pension funds, insurance and reinsurance companies, multinational companies and HNWI from all over the world (2019). With 17 offices spanning three continents and more than 2,800 employees, PIMCO aims to deliver innovative solutions with strategies not restricted by asset classes, sectors and geographic borders. For the last 25 years, Pitsas Insurances has been effectively promoting PIMCO’s investment funds in Cyprus, giving access to investors in international markets to one of the most credible investment providers in the world.

Vanguard

Thu, 07 Oct 2021 00:00:00 +0000

The Vanguard Group is an American registered investment advisor based in Malvern, Pennsylvania with offices in Australia, Asia, and Europe.

With over $7.7 trillion in assets in management, The Vanguard Group is the largest provider of mutual funds and the second-largest provider of exchange-traded funds in the world (2022).

In addition, the company offers brokerage services, variable and fixed annuities, educational account services, financial planning, asset management, and trust services.

Our partners

Wed, 06 Oct 2021 00:00:00 +0000

Markel

Markel was founded in 1930 and has its headquarters in Richmond, Virginia. It is one of the largest reinsurer companies in the world with core business the provision of insurance services to IT companies. In 2018 the company’s total operating revenues surpassed $6 billion while its invested assets were $19.2 billion in the same year. It has 80 offices in 18 counties and employs 17, 400 associates. Markel is listed #441 on the 2019 Fortune 500 List. For the last 10 years, Pitsas Insurances has been effectively promoting Markel’s insurance health plans in Cyprus, giving access to investors in international markets to one of the most credible investment providers in the world.

How to become a resident of Cyprus in 2025? Series of articles

Wed, 08 Sep 2021 00:00:00 +0000

Article 1. Introduction. The path from tourist to resident

Being a tourist in any country is always a great experience, even a short visit will provide you not only with positive experiences, but also leave you well rested and allow you to take a break from the daily routines.

But what happens if you decide to stay in the country you came to enjoy so much for a longer period? Is it possible?

How to become a resident of Cyprus in 2025, Part 2

Mon, 06 Sep 2021 00:00:00 +0000

Article 2. Registration of foreign citizens in Cyprus. Residence permit

In this article, we will provide you with some information the process of foreign citizens registering in Cyprus, and how to acquire a residency permit.

This is the second installment of the series “How to Become a Resident”, the full list of articles can be found at the following link: Article 1. Introduction. The path from tourist to resident.

Which organization deals with the registration of foreign citizens in Cyprus?

Registration of foreign citizens in Cyprus is carried out by the Civil Registry and Migration Department, otherwise the Aliens and Immigration Service (hereinafter referred to as the Immigration Service).

Cyprus Pension Programs. Expected changes in the legislation

Sun, 05 Sep 2021 00:00:00 +0000

Cyprus pension programs

Youth and health are not eternal. Each of us must do everything possible to secure a decent future for himself and his loved ones.

Nevertheless, the financial stability and well-being that should accompany you after retirement cannot be achieved overnight.

Existing government pension programs, as good as they are, cannot provide their beneficiaries with pensions that will allow them to live according to their real needs. In particular, according to Eurostat, Cyprus have one of the lowest pension levels in Europe.

The procedure for use and exchange of foreign driving licenses in Cyprus

Sat, 04 Sep 2021 00:00:00 +0000

Foreigners arriving in Cyprus can drive vehicles using a valid international driving license or national driving license, provided that this license is valid for the class of the vehicle they wish to drive.

However, after a certain period of time, the driving license of most foreign countries must be replaced with a Cypriot driving license.

Use of a foreign driving license in Cyprus

In terms of use and exchange, foreign driving licenses can be divided into 3 categories:

What is keyman insurance

Mon, 30 Aug 2021 16:30:00 +0000

A company's greatest asset is undoubtedly its staff. While every person plays an important role in a business though, there are always certain members of staff whose absence could be highly detrimental to the company's success. This is why a Keyman or Key person insurance policy may be the greatest investment you could make.

Keyman insurance is an insurance policy specifically designed to help a business recover in case it loses a key person who is considered invaluable for its running and growth. Generally speaking, this could mean the owner, the founders and directors, as well as any employee who either generates a large amount of profit or has a niche talent or particularly specialised knowledge.

How to Choose Car Insurance

Mon, 30 Aug 2021 15:45:00 +0000

Insuring your car is required by law and while it constitutes a significant expense that many justifiably try to reduce, even a minor accident can soon make us realise how important insurance can be. Despite that, most of us wait until the last few days before it expires to do some research, and that is usually only related to car insurance prices. In most cases, this is hardly enough to help us realise if we've got the right coverage for us.

Renters Insurance – What is it and Who Needs it

Fri, 27 Aug 2021 15:30:00 +0000

Imagine going away on holiday for a week, only to return to the home you are renting and find it has been broken into. Your TV, laptop, and jewellery is gone, and some of your furnishings have been broken. Could you afford to replace it all by yourself? If your answer to that question is no, then you need renter's insurance.

Renter's insurance is a type of property insurance providing coverage to persons renting or subletting a home or apartment. This coverage provides protection for your personal possessions and assets in the event of theft, vandalism, fire or other types of damage, and can also cover liabilities and possibly your living expenses in case of a loss event.

All Risks Insurance

Fri, 27 Aug 2021 14:15:00 +0000

Imagine spending your time and savings renovating your home, only to have it flooded due to an unexpectedly powerful storm during the winter. What do you do? How do you ensure that your insurance will cover your damages? That's when all-risk insurance comes into play on your policy.

'All risks' refers to a kind of insurance coverage that automatically covers all risks and perils (i.e. property damage/loss arising from accidents or unforeseeable incidents), except for those that are specifically excluded in the contract. For example, if an 'all-risk' homeowner's policy does not explicitly omit burst pipes, then the house will be covered in case there is flooding because a pipe has burst.

Group Insurance

Wed, 25 Aug 2021 15:10:00 +0000

In today's competitive climate, what is it that makes a company stand out from the rest? What can it do to ensure it attracts and retains high-caliber employees? There is perhaps no better way for employers to demonstrate they care for their employees than to offer them group insurance schemes.

Group insurance provides coverage for groups of employees at a company or members of an organisation at a more affordable price than individual medical policies. The main goal of group insurance schemes is to increase employee satisfaction by making them feel secure about their financial well-being should an unexpected health issue arise. Coverage may include a daily hospital benefit, accidental hospitalisation, critical illness cover, etc., and can be expanded to include the insured employee's family as well.

Business Insurance (FAQ)

Sat, 21 Aug 2021 16:00:00 +0000

Whether you're just thinking of starting your own business or you already own one, it can feel exciting and daunting at the same time, since you are investing both your time and money and need your venture to go well. To protect your investment, business insurance can offer you coverage that will protect you when the unexpected occurs.

1.Why do I need insurance for my business?

Starting your own business always entails some degree of risk, and as an entrepreneur you need to make sure your company's assets are protected. From property losses related to theft or fire, to liability issues where someone could threaten to sue, having the right insurance policy in place can help you recover financially when things go wrong.

Public Liability Insurance (FAQ)

Mon, 16 Aug 2021 16:00:00 +0000

In a world where public health and safety are becoming more and more a priority, if your work requires you to work with members of the public, whether that is on site, in other people's homes or your own premises, public liability insurance is essential.

1.What is Public Liability Insurance?

Public Liability is a type of business insurance that covers businesses across industries if a client or member of the public claims to have been injured or had property damaged due to their activities. This policy is designed to protect business owners against claims resulting in legal proceedings.

Criminality in Cyprus

Sat, 14 Aug 2021 15:45:00 +0000

When you're planning to travel to a country, whether that is to visit it as a tourist or to move there permanently, one of your main concerns should be how safe it will be as a destination. You should have no such concerns when coming to Cyprus, since it is consistently ranked as one of the safest countries in the world.

In fact, in early 2020 travel insurance comparator Insurly issued a safety index, allowing you to assess the level of risks you might face when venturing to a country abroad, and Cyprus came in 5th worldwide. Its overall score was calculated taking into consideration data regarding violence, transportation safety, the likelihood of natural disasters, and health. What particularly concerns us in this article, however, is criminality, and luckily Cyprus is in one of the lowest ranks in the EU there too.

Travel Insurance

Fri, 13 Aug 2021 22:30:00 +0000

More and more people travel around the world every year and while traveling can be an exciting adventure for most, it can turn sour quickly if things go wrong. To prevent this from happening, travel insurance can cover a whole range of risk scenarios that could potentially put a damper on your trip.

Travel insurance is a type of insurance plan you purchase before traveling that can cover the costs and losses you may suffer if something occurs during your travels. This could mean something minor, like a delayed suitcase, or more significant, like a last-minute cancellation or a medical emergency while you are overseas. Benefits, however, vary by plan and it is important to choose one that suits your needs, your travel plans and your budget.

Income Protection Insurance

Fri, 13 Aug 2021 15:00:00 +0000

Many of us live payday to payday, with just enough savings to maybe get us through a few months without a steady source of income. Life can be very unpredictable, so how can you make sure you and your family are still financially secure if, for some reason, you cannot work for a period of time?

Income Protection insurance can become your safety net if you get ill or injured in an accident and become unable to work. Providing you with regular payments that replace part of your steady income (typically ranging from 50-65%), this insurance policy can pay out until you are able to get back to work or until you retire, die, or reach the end of your policy term.

What kind of insurance do I need if I rent out my house?

Wed, 11 Aug 2021 14:30:00 +0000

Do I need insurance if my residential property (country house, summer residence) is rented out?

Almost all people dream of owning a second home or a country house. But just like the house in which you live, a country house requires maintenance and care costs, as well as third party liability insurance. The issues that arise out of providing residential real estate for rent and insurance of associated risks do not only concern the citizens of Cyprus as the owners of real estate, but foreign home owners as well. In the eyes of most foreigners, Cyprus is primarily a resort. And when buying real estate in Limassol, Larnaca or Paphos, many of them spend only a few months of the year in it, devoting most of their time to living and working in another country, hence allowing them to put up their houses and apartments for rent.

Life Insurance (FAQ)

Tue, 10 Aug 2021 15:00:00 +0000

Our loved ones are always a priority in our life. If you are worried about what would happen to those surviving you in case of death, getting Life Insurance should be a priority to ensure the ones you leave behind are at least financially secure.

1.What is life insurance?

A life insurance policy is a contract between the policyholder and the insurer, wherein the latter promises to provide your beneficiaries with a sum of money upon your death, or pay off an existing mortgage. In return, you make periodic payments called premiums, which are based on factors such as your age, medical history and the kind of life insurance you purchase.

Public Liability Insurance – What is it and Who Needs it

Mon, 09 Aug 2021 15:20:00 +0000

If you are a business owner who likes to think ahead, you will want to be prepared for any eventuality, especially if your line of business requires you to deal with people on a daily basis. Accidents inevitably happen, and when they do, Public Liability insurance can be the only thing protecting you from the sometimes unbearable costs of legal claims against you.

Public liability is a type of business insurance designed to protect and cover businesses across industries should a client or member of the public claim to have been injured or had their property damaged because of your business activities. While public liability can arise from many circumstances, the main one is negligence. Say, for example, that you have a damaged step on your premises that you were planning on fixing soon and a customer trips on it – they can then sue you for their injury. If an electrician sets up a faulty wiring system in a house that causes damage to the neighbourhood electricity system, that is a public liability issue as well and if the electrician is not insured, there can be costly legal action filed against them.

Money Insurance

Sat, 07 Aug 2021 16:00:00 +0000

From profits to costs, monetary transactions affect every area and are crucial for business operations. If your business regularly handles large amounts of cash, however, you definitely need to consider how it would be affected should that money be lost or stolen. No matter how careful you are, there is always a risk when you transfer funds, whether that is through cheques, postal orders, drafts or cash. A Money Insurance policy can help set your mind at ease.

Crime Insurance

Sat, 07 Aug 2021 15:10:00 +0000

The word 'crime' is one that rings differently for each person, especially when it comes to business. While businesses only used to be in danger of in-person theft and robbery in the past, that was slowly overtaken by white collar crime events and in the more recent years, cyber crime. No matter the size, territory and business sector, however, all organisations are vulnerable to risk of fraud.

Fraud can take many forms – the theft or unauthorised transfer of cash, stocks, or other assets; forgery or alteration of negotiable instruments; receipt of counterfeit currency; computer hacking and related cyber fraud – and can continue for many years before it is discovered, often causing devastating damage to your business and its reputation. In the face of constantly changing fraud exposures, the only thing that can fully protect your company and give you peace of mind is Crime Insurance.

Media Liability Insurance

Fri, 06 Aug 2021 15:00:00 +0000

One way or another, almost all businesses need to produce and broadcast or publish media content. The advent of the Digital Age has opened up new forms of communication and anyone with access to a social media account can now become a content creator. This expanded exposure, however, means that any kind of communication outlet could be at risk from liability claims for things like libel, intellectual property claims or invasion of privacy. This is where media liability insurance can help.

Critical Illness (FAQ)

Thu, 05 Aug 2021 11:00:00 +0000

Nobody likes to think of the worst case scenario, but the truth is that serious illnesses have become a part of reality for many people around the world. Though lesser known than Life or Health Insurance, in the event of a major health emergency, Critical Illness insurance might be the only thing standing between you and financial ruin.

1.What is Critical Illness Insurance?

In short, Critical Illness insurance will provide you with a lump sum of money should you be diagnosed with certain long-term and serious conditions such as a heart attack or stroke, or diseases like cancer, multiple sclerosis or Parkinson's disease. Because these illnesses require extensive medical care and treatment, having a Critical Illness insurance policy in place may alleviate financial worry in the event that you become too sick to have any sort of income.

Watercraft Insurance FAQ

Wed, 04 Aug 2021 16:00:00 +0000

Whether you're a boat, yacht or pleasure craft owner, the importance of having it properly insured cannot be stressed enough.

1.What do Boat Insurance policies usually cover?

The vessel's value and size, as well as where and how you use your boat will usually determine the kind of coverage you need. The types of loss you want to be insured for can also determine your policy terms. Liability insurance, for example, will cover the boat owner for damage caused to other boats or injuries caused to others. It provides no protection for the boat itself though, so this policy is usually preferred for older boats. Hull insurance is an all-risk, direct damage policy that will pay you an agreed amount of hull coverage. Some boaters also add Protection and Indemnity to their policies, which covers accidental damage, legal fees, pollution damage, wreck removal and towing. You may also be able to add extra coverage options, such as medical payments, personal effects, and uninsured boaters liability. Finally, most policies will also cover permanently attached equipment, as well as anchors, oars, life jackets, and tools.

Life and health insurance: what will not be covered by your insurance policy?

Wed, 04 Aug 2021 00:00:00 +0000

In our work we are often faced with questions from the clients about the exclusions present in their life and health insurance policies. As sane people they are absolutely sure that every rule has at least one exclusion, and no protection in the world (including insurance) can be absolute. Our clients want to know exactly what will happen to their insurance coverage in a given situation, and our duty is to provide them with complete and comprehensive information on this issue.

Group Insurance (FAQ)

Thu, 29 Jul 2021 16:00:00 +0000

When employees need to take time off due to health issues, it may have a major impact on your business. Group Health insurance is designed to help people get back to work as quickly and effectively as possible.

1.What is Group Health Insurance?

Group health insurance provides quality healthcare coverage to the employees in a business or organisation. It is designed specifically around the needs and requirements of employees and covers any hospitalisation expenses they may incur, as well as various other healthcare costs defined in the policy.

Marine Cargo Insurance (FAQ)

Thu, 29 Jul 2021 15:00:00 +0000

While the word 'marine' inevitably conjures up images of the sea, Marine Cargo insurance is not restricted to the movement of cargo across the seas.

1.What is Marine Cargo Insurance?

In simple terms, it is the insurance of property from any loss or damages it may incur as it moves from place to place. While the name of the policy based on the Marine Insurance Act 1906 does specifically refer to 'marine losses' and 'maritime perils', since international travel ofter requires the use of more than one type of transport to ensure the cargo reaches its destination, Marine Cargo insurance also makes provisions for aircraft, road, and rail vehicles.

Personal Accident Insurance (FAQ)

Mon, 26 Jul 2021 17:10:00 +0000

Accidents are a part of life and may happen at any time, but they may also leave you unable to work and provide for your loved ones. A Personal Accident Insurance policy may help you get back on your feet.

1.How is an accident defined?

An accident can be any sudden, unintended external event which might cause an individual bodily harm and lead to a temporary or permanent physical disability or death.

Keyman Insurance (FAQ)

Tue, 20 Jul 2021 18:00:00 +0000

Would your business survive if a key member of staff suddenly passed away? This is probably the worst-case scenario for most, but it is a fact that the sudden death or long-term absence of a vital employee could be destructive for a company's success. This is where Keyman insurance comes in.

1.What is Keyman insurance?

Keyman or key person insurance is purchased by a business in order to insure the life of who they consider their most valuable employees.This policy will protect the business from any possible loss of profits in the event that this key person passes away or becomes disabled unexpectedly.

Employers’ Liability Insurance FAQ

Tue, 20 Jul 2021 13:00:00 +0000

When you have employees, their health and safety while at work should be of the utmost importance. To ensure that, all employers are required by law to obtain an Employers' Liability insurance so as to be covered in case there is a work-related injury or illness.

1.What is Employers' Liability insurance?

Employers’ Liability is a key type of insurance which safeguards businesses and any other type of employers from legal liability and damages if any of their employees sustains bodily harm, illness or fatal injury in the course of their employment.

Professional Indemnity Insurance FAQ

Mon, 19 Jul 2021 19:00:00 +0000

Though the term was previously reserved for more mainstream professions, a 'professional' is now regarded as any person who offers specialist advice or services to another. As the definition has expanded, so has the possibility for making mistakes during work and consequently causing financial loss.This is where Professional Indemnity Insurance comes in to protect you.

1.What is Professional Indemnity (PI) insurance?

Professional Indemnity Insurance is a policy designed to protect business owners, freelancers and the self-employed in case a client claims their services were subpar and decides to sue. PI insurance is designed to safeguard service-based enterprises no matter what.

Directors and officers liability insurance (FAQ)

Mon, 19 Jul 2021 17:00:00 +0000

Directors & Officers Liability insurance (also referred to as D&O insurance) offers essential coverage for companies and non-profit organisations of all sizes against legal claims made by clients, investors, employees and other parties. Here are some of the most common questions about it answered.

1.What exactly is D&O Insurance?

Directors & Officers Insurance covers legal liabilities and assets in case the directors and officers in a company are sued because of alleged or actual wrongful acts committed within their positions. Errors of omission, misstatement or breach of duty may all be covered under D&O policies

A decade of cyber attacks: the biggest hacks of 2011-2021

Mon, 12 Jul 2021 13:00:00 +0000

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With more than half the world population now online and roughly a million more joining the internet each day, it is no wonder that cyber crime is also rapidly on the increase. The digital nature of virtual technologies used by people on a daily basis makes them vulnerable to cyber attacks that can take a multitude of forms – from data breaches and ransomware to the large-scale overtaking of systems with potentially devastating consequences.

Home Insurance, or how to protect your house and property against theft

Mon, 12 Jul 2021 00:00:00 +0000

Home insurance is the most effective way to protect your home.

Unfortunately, burglary and crime in general have significantly increased in Cyprus since joining the EU in 2004. The main reason behind that is that Cyprus has become a particularly attractive destination for foreign nationals looking to have a second home in Cyprus.

Most foreign nationals stay in Cyprus for only a short period of time, making their homes easy targets for thieves. At the same time, the greatest activity of thieves is observed in tourist areas. Both absent and permanent resident/homeowners in Cyprus can become victims of theft.

Traffic Laws – Violations, Penalties and Penalty Points

Mon, 12 Jul 2021 00:00:00 +0000

In this article by Pitsas Insurance, you can find a list of punishable traffic violations, as well as the corresponding penalties and fines which are then applied by the Cyprus Police to offenders.

This list is not an exhaustive one but can serve as a guide for the most common and frequently occurring violations and their consequences.

Before reading further, we would like to emphasize that the frequency in which offenses are taking place on the roads, around the world and particularly in Cyprus, has become quite serious in recent years.

Boat insurance

Fri, 09 Jul 2021 00:00:00 +0000

If you own or operate a boat, yacht or another marine vessel, marine insurance can cover your risks of loss, damage, theft or breakdown of your vessel, harm to its passengers, as well as costs associated with causing harm to the health and property of third parties as a result of an accident.

In this article we would like to tell you about the main parameters and features of marine insurance that you may encounter in the process of choosing the insurance policy you need.

Health insurance: pre-existing conditions

Fri, 09 Jul 2021 00:00:00 +0000

At Pitsas Insurances we strive to provide our clients with extended coverage at the best possible prices. Therefore, we have concluded cooperation agreements not only with Cypriot, but also with the largest international insurance companies. The conditions that make our contracts especially attractive are the coverage of the costs of an ophthalmologist and dentist, as well as coverage of the costs of up to €1,800 for Chinese medicine and up to € 6,000 for physiotherapy. We also provide coverage for pregnant women, and although the costs of the birth are not covered directly, we will cover any costs associated with the complications of childbirth. In addition, we provide insurance coverage for patients with hereditary or genetic diseases, excluding the disease itself or related diseases.

Immigration Insurance in 2025. How to make a claim on your immigration insurance

Fri, 09 Jul 2021 00:00:00 +0000

In this article, we are aiming to help with how to claim compensation for medical expenses, if case you have taken out an immigration health insurance policy as required for your residency permit from the immigration service.

If any health issues arise that require treatment, you can visit any doctor of your choice with your insurance policy island wide, regardless of your city of residence.

In order to make a claim, you need to provide us with the following:

Residential property and content insurance in Cyprus

Tue, 06 Jul 2021 00:00:00 +0000

If you have purchased residential property in Cyprus, Pitsas Insurances recommends insuring it against earthquakes and fire, as well as insuring the property against theft.

Insurance companies offer a fairly large number of types of residential real estate insurance, the insurance coverage of which ranges from minimal to full. Therefore, the insurance policy should be selected individually, depending on your property and needs.

The cost of the insurance depends on the chosen insurance plan, the value of the real estate and the value of the property. Keep in mind that when specifying the value of the real estate, you need to deduct the value of the land on which the said real estate is built, since there is no point in insuring the land itself.

24-hour road assistance to the driver (CNP)

Fri, 28 May 2021 00:00:00 +0000

If you need road assistance or assistance in an accident, call 77778283

The “Road Assistance” service is provided to our customers free of charge, 24 hours a day, 365 days a year, in all territories controlled by the Republic of Cyprus.

The service is provided by a special provider company (Road Service).

The roadside assistance includes towing, wheel replacement, assistance in case of lost keys or lack of fuel, solving battery problems, minor on-site repairs and tow truck services (for more details on the road assistance conditions see the link).

24-hour road assistance to the driver (AIG)

Thu, 27 May 2021 00:00:00 +0000

If you need road assistance or assistance in an accident, call 22435510

Road assistance is provided to our customers free of charge 24 hours a day, 365 days a year on the public roads of the Republic of Cyprus, and in the territory controlled by the British Armed Forces (British military bases).

Road assistance will be provided by the partner company (Road Service) in cases where the vehicle is immobilized due to mechanical or electrical breakdown, accident, fuel/oil/water leakage, punctured tires and getting locked out.

What is included in the 24/7 road assistance (CNP)

Thu, 27 May 2021 00:00:00 +0000

For road assistance call 77778283

As a part of the of the “Road Assistance” service, the company cooperating with us – the service provider (Road Service) – may perform the following actions:

1.Vehicle towing

If your vehicle has stopped due to mechanical/electrical, our specialists will arrive on site to have it repaired as soon as possible with just one phone call.

2.Tire change

If your vehicle is immobilized due to a flat tire, our technicians will replace the tire on site, or take you to the nearest garage for repair.

Definizioni di assicurazione: tutto ciò che i conducenti devono sapere

Fri, 21 May 2021 00:00:00 +0000

E’ importante comprendere le definizioni di assicurazioni di auto e dei tipi di copertura in modo tale da proteggersi quando occorre.

Molti guidano auto, ma quanto sono davvero a conoscenza della loro assicurazione e della loro copertura?

E’ importante possedere un’assicurazione auto per autotutelarsi durante la guida, oltre a proteggerti inoltre, questa è garante del rimborso in caso di perdita o incidente, stabilito da una legge.

Se, ad esempio, durante la guida si è distratti si investe un pedone, l’assicurazione garantisce il pagamento totale del danno.

Life insurance: main types and key aspects

Thu, 20 May 2021 00:00:00 +0000

Life insurance is a personal insurance that allows to receive a material compensation in case of unforeseen events such as accidents, illness or death of an insured person.

All expenses will be compensated by the insurance company, so in some cases life insurance can be considered as a good way to increase an income.

Life insurance consists of 2 groups: classic life insurance and endowment or mixed life insurance.

1) Classic life insurance (also known as “classic risk insurance”) refers to simple insurance policies against an accident (death or disability) or any other specific event determined by an insurance contract. Classic insurance contract is concluded for a year.

The МОТ test: governmental vehicle inspection

Tue, 06 Apr 2021 00:00:00 +0000

Each vehicle must be regularly inspected (usually once a year or every two years) to get a confirmation from an authorized institution that all its components are kept in good condition. Depending on the vehicle category, this inspection must be held by the Center of Technical Inspection of Common Use Vehicles (KEMO), or by the Center of Technical Inspection of Private Vehicles (I.K.T.E.O.).

The technical inspection that was mentioned above, as well as the I.K.T.E.O institution, its activities, and all related issues are subject to The Law on Road Transport (including technical inspection and centers of technical inspection), which was adopted in 2007 and includes all revisions to date.

Employers’ liability insurance in Cyprus

Sat, 08 Feb 2020 20:20:00 +0000

With this article, Pitsas Insurances aims to provide its readers with the most essential information about the purpose and features of employers' liability insurance in Cyprus.

In accordance with the Legislation of the Republic of Cyprus, starting from 01.01.1997, all the employers operating in Cyprus are required to conclude an Employer’s Liability Insurance Contract with an authorized licensed insurance agency. It is the employer's responsibility to check whether the insurance agency with which the Insurance Contract is concluded is authorized.

General Healthcare System and Private Insurance

Mon, 20 Jan 2020 00:00:00 +0000

What is GHS and how does it affect private insurance?

The General Healthcare System (GHS or GESY) is an independent insurance fund through which clinics, private doctors, pharmacists, laboratories, microbiological laboratories, and physiotherapists are paid so that they can offer medical care to permanent residents of Cyprus who are paying contributions to this fund.

On 1st of June 2019, the first phase of the project had been implemented with the provision of coverage for out-patient care expenses [medicines, laboratory tests, imaging tests (Scans, x-rays, CTs, MRIs)].

Life of British Expats after Brexit

Mon, 20 Jan 2020 00:00:00 +0000

1. How many UK citizens live in Cyprus?

According to a 2018 census, the total number of foreign nationals living in Cyprus was 155,600 (meaning approximately 18% of the total population living in the areas under the control of the Republic of Cyprus), of which approximately 16% (25,000) were UK nationals.

These figures are definitely underestimated. That is mainly due to the fact that a large number of European citizens, including Britons, who own a house in Cyprus, had not applied for a certificate of permanent residence.

Professional Indemnity Insurance at a glance

Sat, 11 Jan 2020 00:00:00 +0000

Why become insured:

Coverage for actions or neglect arising from civil law and other existing divergences contingent on each profession.
Provisions for the protection of natural or legal persons’ reputations.
Exposure to potential clients.

Insurance coverage provided:

Compensation for third-party claims arising from the job’s negligent practice.
Third-party claims due to defamation or slander.
Breach of copyright/breach of duty/breach of confidentiality.
Defense expenses regardless of the validity of the accusation.
Potential out-of-court settlement amount.

Additional provisions:

Loss of documents
Third-Party claims due to employees’ malignant actions.
Court expenses
Extensive claims period for professional indemnity
Extensive experience in insurance underwriting
Specialized claims management, with particular sensitivity and discretion toward your business relations
Desire to build a long-term relationship of mutual trust with our clients
Leading position on a global level in the General Insurance market

The usual exclusions of our contracts relate to any losses in connection with any claims related to the following:

Infringement of patents
Infringement of trade secrets
Pollution of the environment
Bodily injury and property damage
Computer virus, malicious code or failure to prevent unauthorized access to your company's systems
Contractual liability or other obligation assumed that goes beyond the duty to use such skill and care as is ordinarily applied to your usual professional services
Employment harassment or discrimination
Government and regulatory actions
Mechanical, electrical or telecommunications failure
Insolvency
Work carried out by joint venture of which the insurance forms part
Misdeeds (criminal, dishonest or fraudulent acts)
Infringement or misappropriation of patterns or trade secrets
Claims made prior to or pending at the inception of this policy excluding all cases to which we provide retroactive coverage
War and terrorism

Who can be insured:

The legal entity through which the profession is practiced
The natural person as a freelancer
Partners
Employees
Heirs of all the above

Which professions:

Lawyers – Legal companies
Accountants – Accounting firms – Audit firms
Technology companies (IT)
Telecommunications companies
Consulting services companies (Management Consultants)
Administrative services providers
Architects – Engineers – Surveyors
Advertising companies
TV and Radio stations
Newspapers and magazines
Publishing Houses
Printing companies
Graphic Arts companies
Market Research companies
Marketing & PR companies
Personnel recruitment companies
Loss Adjuster companies
Real Estate firms
Educational Organisations
Translation Companies
Outsourcing companies
Photographers

You can learn more about Professional Indemnity insurance by contacting the specialists of our company by phone 26 600 620 and e-mail info@pitsasinsurances.com.

To calculate the cost of Professional Indemnity insurance, follow the link: [Professional Indemnity Insurance](https://www.pitsasinsurances.com/en/products/professional-indemnity/)

How Does Immigration Insurance work in 2025?

Tue, 07 Jan 2020 21:05:00 +0000

What is immigration health insurance for?

Medical insurance for the Immigration Service is the minimum medical insurance required for all foreigners residing in Cyprus.

Foreign nationals who intend to reside in Cyprus, either temporarily or permanently, must apply for the corresponding residence permit through the Immigration Service.

The most popular types of permits issued by the Immigration Office are:

Permit for temporary residence in Cyprus, which must be renewed annually (Residence Permit).
Category F visa (Yellow Slip or Residence Permit for an Unlimited Period of Time) – a permanent residence permit that does not need to be renewed, but for which you must meet more stringent immigration requirements.

One of the documents required for obtaining a residence permit is a special medical insurance (Plan A). This insurance must be issued for each family member residing in Cyprus.

Insurance for foreign nationals: claims procedure in case of medical expenses in 2022

Mon, 06 Jan 2020 00:00:00 +0000

If you are facing any health issues that require medical attention whilst in Cyprus, you may visit the doctor of your choice in any Cypriot private clinic. You will then need to provide our office with the original pertaining documents (invoices, payment receipts, test results, X-ray exam results, doctor’s report etc.)

Our office will provide you with a form your doctor will need to fill in (the form can be sent to you via email if you are unable to collect it from us). This form is for the doctor to write down all the results from his tests in detail. It is also very important that you are able to describe in English precisely what the health issue you faced was and when it originally appeared.

Medical Insurance: the procedure required for claims in case of medical expenses

Mon, 06 Jan 2020 00:00:00 +0000

This brief article is meant to describe the correct procedure you need to go through in order to properly claim your medical expenses when you have medical insurance. It must be noted that the procedure differs depending on the kind of expenses (inpatient, outpatient), as well as the kind of insurance company you have a contract with (Cypriot or international). In either case, you are free to select the doctor and clinic of your liking in Cyprus or abroad. Make sure you pay attention to your contract, since it may specify a particular geographical region where expenses are allowed, while for countries like the USA there may be different coverage limits.

The main types of motor insurance in Cyprus

Thu, 02 Jan 2020 00:00:00 +0000

What are the three main motor insurance contracts in Cyprus and what they cover in brief:

Third Party Liability

This insurance is obligatory by law. In case you get involved in an accident with another driver, it exclusively covers the other driver’s expenses. It also allows you to drive other vehicles of the same type, as well as offer road assistance and autohelp when needed. Other drivers of the vehicle and the passengers are covered too in the event of an accident. You can additionally use your vehicle for business services or to draw a trailer, and if there is an accident the loading is protected from any claims. Third party liability also covers up to an amount for windscreen damages.

Claims procedure in case of a car accident

Wed, 01 Jan 2020 00:00:00 +0000

If you are involved in an accident with or without the participation of other drivers, you need to follow these steps:

Don’t leave the scene of the accident.
Immediately call the Road Service (Road Assistance Service) and the insurance company (you can find its phone number on your insurance policy or the information leaflet from your insurance company or agent).
Wait for your insurance company representative to arrive. The company representative will come to photograph the scene of the accident and record the information about the accident based on your testimony.
Provide the inspector of the insurance company with all the information you know about the accident (contact details of the participants, witnesses, police officers who arrived at the scene of the accident, your actions at the time of the accident, photographs of the scene of the accident and damage to the car).
Specify what damage your insurance contract covers (availability of a deductible in the case of CASCO, coverage limits, exclusions from the insurance coverage, the ability to cover the transportation costs).
Check with your insurance agent for the timeframe for filing an insurance claim, as the timeframe for filing a claim for compensation for the vehicle damage may differ from the timeframe for filing a claim for compensation for medical treatment.
Work with an insurance appraiser and get the repair quote so you know how much the insurance company is willing to pay to repair your vehicle.
Choose a workshop and repair your vehicle, however, keep in mind that the original parts used by the workshop may be new or used depending on the terms of your insurance contract, and you may have to pay the difference in price.
If the insurance company decided that your car is completely destroyed (Total Loss), you will be paid the insurance compensation based on the market value of a similar vehicle. Consider the fact that if you have a full insurance contract (CASCO), and you are responsible for the accident, the compensation will be paid to you minus the deductible set out in the terms of the contract.

What to do if you leave the scene of the accident

In case you left the scene of the accident, you will need to come to our office and fill out the claim form. You will need to explain the circumstances under which the accident occurred. The explanation must be in English or Greek.

Documents required for motor insurance

Wed, 01 Jan 2020 00:00:00 +0000

Phone number (Cypriot and international) (Note 1)
Email address (Note 1)
Utility Bill (electricity, water or telephone)
Copy of national driver's license, Cypriot or international. Both the photo page and the page with the type of vehicles the driver is allowed to drive need to be photographed. (Note 2)
Passport copy
Title deed copy (Note 3)
Certificate from previous insurance companies for the last 5 years (Note 4)
In case of additional drivers, the following documents need to be submitted:

Professional indemnity insurance

Mon, 30 Dec 2019 00:00:00 +0000

Pitsas Insurances, with more than 35 years of experience, is one of the leading providers of professional indemnity insurance services in Cyprus.

Our standard professional insurance contracts provide cover for the legal costs and expenses arising from claims related to errors and omissions. The most common areas of risk are:

Breach of Duty (Professional liability)
Intellectual property infringement, i.e. unintentional infringement of any intellectual property right
Defamation and libel
Loss of goods or money
Loss of documents or data for which the insured is legally responsible. In particular, the policy covers any documents destroyed, damaged, lost, distorted or erased in the performance or non-performance of professional services
Fraud and dishonesty of any employee.

The usual exclusions of our contracts relate with any losses in connection with any claims related to the following:

Directors and Officers Liability Insurance in Private Companies

Tue, 17 Dec 2019 00:00:00 +0000

The Directors and Officers Liability Insurance does not only apply to state-owned companies. The owners of family businesses are sometimes under the false impression that they do not need coverage by this insurance. Of course, once they are forced to deal with a claim and bear the defense expenses; or even worse, when they have to pay compensations or a settlement amount, they quickly change their mind.

The directors of private companies may be sued by a number of claimants for various reasons. In fact, when the assets of a family are bound to a private company, the uninsured loss can be catastrophic. When the directors are sued, the first line of protecting their personal assets is coverage by the company. When the company belongs to the directors themselves, however, the coverage is actually provided out of their own pockets. Depending on the size of the claim and the depth of their pockets, their omission to insure the company could even lead to bankruptcy. Besides, when something goes wrong with the company, the directors are often sued alongside the company as co-defendants and then they have to assign the case to a lawyer who will handle their defense, and they will have to assume any personal liability attributed to them. If the company does not have the resources to cover the director or is not entitled to cover him, then insurance becomes even more imperative.

Directors and Officers Liability Insurance in State-Owned Companies

Tue, 17 Dec 2019 00:00:00 +0000

The rapid expansion of the Directors and Officers Liability insurance, known as D&O, in the political world is due to various factors including:

The unlimited liability of the company’s officers
The influence of the European Union Directives
The formal and strict environment of corporate governance
The modern views attributing liability to the companies’ officers and seeking more transparency in the accounts of companies
The globalization and the wide publicity of failures and company scandals.

Moreover, directors understand the limitations of companies to provide coverage through the Articles of Association. Even if the company has a contractual obligation to provide coverage, the director might have to go through a traumatic experience when he discovers how fast his colleagues can abandon the company.

LIFE INSURANCE WITH ADDITIONAL BENEFITS

Tue, 17 Dec 2019 00:00:00 +0000

Pitsas Insurances provides life Insurance policies with the following additional benefits:

Waiver of Premium
Supplementary Premium Protection
Additional Term Insurance
Permanent Total Disability
Monthly compensation due to Permanent Total Disability
Maximum Critical Illness Benefit
Accidental Death

Waiver of Premium

People aged between 20 and 55 are insured and coverage is provided until the insured reaches the age of 65. Benefits are paid until the policy expires or until the disability ceases or until the anniversary following the insured’s 65th birthday. It is activated in case of permanent and total disability that lasts more than 6 months.

Cyber Hacks Cost Billions- Is Your Business Insured?

Wed, 03 Jul 2019 00:00:00 +0000

Cyber attacks cost companies 400 billion dollars each year and even the biggest companies in the world have fallen victim. Do we know that your IT department takes every security precaution possible to protect your business, clients, and employees but are you financially covered if the worst happens?

What Hackers Can Steal From You Right Now

Confidential client records
Client credit card & bank details
Employee social security/passport details
Passwords & website access details
Confidential emails, documents & contracts

With today’s technology and social media accessibility, a hacker can expose your confidential information at light-speed leaving you vulnerable to further hacks or in many cases lawsuits resulting from broken nondisclosure and data protection agreements.

Cyber Insurance – What does cyber insurance covers?

Wed, 03 Jul 2019 00:00:00 +0000

1. Introduction

As Robert Mueller (FBI Director 2012) put it: “There are only two types of companies: those that have been hacked and those that will be”

Virtually every business relies on data and computer systems. When these systems experience a virus or other computer attack (cyber attack), a business is at real risk of losing critical information that is essential to daily operations and potentially exposing itself to third-party liability. Since data can be sold at extremely high prices in the black market, hackers have strong motivation to hunt after these data.

Seven new bills for stiffer traffic penalties

Tue, 16 Apr 2019 00:00:00 +0000

Thousands of euros are spent by Cypriots according to the latest police statistics on fines for road traffic offenses each year. A package of 8 laws passed by the Council of Ministers significantly increases fines for road traffic offenses.

The 7 amending bills and the draft Regulations approved by the Cabinet provide an increase in the extra-judicial fine from € 85 to € 300 in case of using a mobile phone while driving, but also for driving without a safety belt or helmet, and the same applies to the violation light signal. Pedestrian parking is subject to a fine of € 85 to € 150, while for parking in disabilities, the exodus is up to € 200.

Property Search in Cyprus

Tue, 12 Feb 2019 00:00:00 +0000

Do you have an exciting investment project in Cyprus or an innovative business idea and you want to reach potential investors worldwide? Register your project in the Database of Amazon Consulting and boost its visibility to a large network of international investors! Get funding from investment funds, venture capitals, European subsidies, banking institutions, strategical partners! Our portfolio includes hotels, business centres, shopping malls, student dormitories, theme parks, businesses, start ups, universities, rental businesses.

Financial Institutions Corporate Guard Directors and Officers Liability

Wed, 28 Nov 2018 00:00:00 +0000

The Insurance Covers under this policy are afforded for Claims first made against an Insured during the Policy Period and reported to the Insurer as required by this policy.

In consideration of the payment of the premium the Policyholder and the Insurer agree as follows:

1.1 Management Liability

The Insurer will:

pay to or on behalf of each Insured Person any Loss except to the extent that the Insured Person has been indemnified by the Company for the Loss
reimburse the Company for any Loss for which it has indemnified an Insured Person.

1.2 Special Excess Protection for Non-Executive Directors

Limits and Retentions on Directors and Officers Liability

Wed, 28 Nov 2018 00:00:00 +0000

Limit of Liability

The total amount payable by the Insurer under this policy shall not exceed the Limit of Liability where the Insurer’s liability is excess of the Limit of Liability. The Insurer shall have no liability in excess of all such limits, irrespective of the number of Insureds or amount of any Loss. Each Sublimit of Liability specified in the Schedule is the maximum the Insurer shall pay for the cover to which it applies and is part of the Limit of Liability.

The Investment Program of Malta for receiving EU Citizenship

Tue, 06 Nov 2018 00:00:00 +0000

The Maltese Investment Citizenship Program offers a second citizenship to third country residents wishing to move their personal or business affairs to an EU country. Citizenship granted through this investment scheme is valid for life and it is passed on to future generations by descent.

Malta has been a full member of the EU since 2004 and is a member of the Schengen zone since 2007. Maltese citizenship grants access to all investment and business opportunities in Malta, including other EU and EEA countries.

Cyprus citizenship through investments

Mon, 05 Nov 2018 00:00:00 +0000

The Cyprus economy in the past few decades has been an ideal environment model for foreign investments. In order to encourage foreign direct investments in recent years, the Cyprus government has launched a special program allowing non-Europeans to be able to apply for a Cypriot Passport through investment or business ventures. As a citizen of a European state, the holder of a Cyprus passport will be able to enjoy the benefits of European interior market, such as free movement of goods, services and capital along with the ease of living permanently in any EU country, as well as the visa-free access to 147 different countries worldwide.

How to fill out a claim form for home insurance

Wed, 31 Oct 2018 01:00:00 +0000

Should you wish to make a claim under your policy, you should initially read the relevant section of the Policy Wording together with the Policy Schedule to check whether you consider the claim is covered by this policy.

Please contact us as soon as possible on +35 26600620 during office hours.

Remember the following points:

You must at all times provide without expense to us, any information or help that we reasonably ask for.
You must not admit, deny, negotiate any claim without written consent from us.
You must tell the police within seven (7) days of discovery of any loss or damage caused by theft or attempted theft, accidental loss, malicious acts or vandalism, and keep a note of any crime reference number or loss reference number.

How to do a complaint

Expatriates Home Insurances Terms

Wed, 31 Oct 2018 00:00:00 +0000

Buildings insurance

If you selected Buildings insurance, and chose the ‘Standard cover’ option the following coverage will apply: For a full list of exclusions please refer to the Policy Wording.

Significant features and benefits

Your home is covered against damage caused by the following perils:

Fire, smoke, lightning, explosion or earthquake, storm, flood, freezing of water in any part of the plumbing installation, fixed water or fixed heating systems, subsidence, escape of water/oil (including the costs you incur in locating the source of the damage up to €5000 and replacing damaged waterpipes up to €1000), theft, impact, malicious damage, vandalism and other similar causes. In addition we will cover your home and garden for the cost of emergency entry.

Home Insurance for expatriates

Mon, 29 Oct 2018 00:00:00 +0000

Period of insurance

Expats Home Insurance is an annual insurance contract which may be renewed each year subject to the terms and conditions applicable at the point of renewal invitation.

Purpose of insurance

This product is suitable for expatriates who work or have retired in Cyprus and covers the sections that you have selected and the sums insured shown on your policy schedule as detailed below:

If you have chosen Buildings Insurance, we will provide cover for the structure of your home including garage and outbuildings, its fixtures and fittings, boundary and garden walls, carport, gates, hedges, fences, footpaths, patios, terraces, drives, tennis courts, swimming pools, hot tubs, garden ponds, statues and fountains that are permanently fixed into the ground, greenhouses, solar panels, septic tanks, gas or oil central heating tanks all forming part of the home which are used for domestic purposes only, against loss or damage from specific perils summarized over the page and detailed in your policy wording.

Chinese Investments in Cyprus

Wed, 24 Oct 2018 00:00:00 +0000

We are glad and proud to inform you that after considerable effort and assistance from the China Desk which is based in Paphos and is part of the Cyprus-China Business Association, we expect in April/May 2019 a targeted delegation (8-10 companies) from the venerable China Investment Association, accompanied by Chinese Government officials. The areas of interest for actual investment are:

Renewable Energy, such as: Solar energy, Wind power, Garbage disposal, Waste treatment etc.

Satellite Insurance

Thu, 17 May 2018 06:00:00 +0000

Satellite insurance is a specialized aircraft safety industry with a total of 30 insurance companies providing services.

The insurance mainly covers the costs that may arise as a result of the following risks:

1) restart of the satellite in case of failure of the first launch;

2) replacement of the satellite in case of damage;

3) deviation of the satellite from the given trajectory;

4) failure of the satellite into orbit;

Do you insure people with diabetes?

Thu, 10 May 2018 00:00:00 +0000

We come across this question extremely often and in this article, we will try to give an insight into the way we assess this type of cases.

The main answer we have is that we do not adjust our regular premiums for new clients in order to include cover for pre-existing medical conditions. When a client discloses some medical conditions on the Full Medical Underwriting Application Form, our underwriters will assess the information and make a decision. Nevertheless, the decision will be simply whether to exclude the particular conditions or to offer standard terms, i.e. with no personal exclusions. We do not have the facility to offer terms for new clients where the premium is higher than our standard rates. In the majority of cases the underwriter would wish to exclude the conditions listed.

CYPRUS BANKING CRISIS

Tue, 17 Apr 2018 00:00:00 +0000

Since 2008, has launched a first-class crisis on the Cypriot economy and society with the bankruptcy of a Cypriot bank Laiki in March 2013. This was the priming for the deterioration of the country's living standards with chain influences such as rising unemployment and deduction of the national income of the country as a result the corrosion of the social structure.

The European Union and the International Monetary Fund, looking at the unprecedented expansion of the Cyprus banking system, the heavy fiscal deficit and the increase in the country's public debt, decided that the public sector and the banking system should be upgraded.

An investment of billions from a Cypriot businessman to the Zimbabwe

Thu, 12 Apr 2018 00:00:00 +0000

The Pitsas Insurances team is particularly proud of the new international business venture of our great friend and client, Mr. Loucas Pourouli. The Cypriot company Karo Resources, managed by the Pourouli family, is going to invest $4.2 billion for the development of an ambitious platinum extraction investment in the post-Mugabe era of Zimbabwe.

The investment that transforms Zimbabwe

Since assuming his duties, the new Zimbabwe president has committed to promote institutional reform in order to attract the interest of foreign investors. As Reuters mentions, the agreement signed with Karo Resources illustrates the willingness of the country to create a favourable climate for investment. The agreement constitutes the largest foreign investment in Zimbabwe since the removal of Robert Mugabe and the greatest investment ever made into the country’s mining industry, as the country’s minister of Mines and Mining Development Winston Chitando has mentioned. The new investment is expected to start in 2020 and will produce 1.4 million metal ounces of the white gold group, a fact that will turn the Cypriot company into the biggest producer in Zimbabwe by 2023. It is worth mentioning that Zimbabwe has the third largest platinum reserve after South Africa and Russia. The Karo Resources investment will also include a 600MW power plant and a coal extraction station to provide power for it. The extraction of precious metals will take place at an area rich in reserves which is called Mhondoro-Ngezi, at the west of the country’s capital Harare, and is expected to employ approximately 15,000 people. Talks on the investment had already begun back in 2012 but state corruption and conflict of interests stopped it from materializing. President Mnangagwa seems determined to promote any attempt to revive the country’s neglected mining sector, and in Mr. Pouroullis he has found a reliable ally to kick-start that effort.

Limitations for expatriates insurance

Mon, 09 Apr 2018 00:00:00 +0000

In Pitsas Insurances our commitment is to be able provide medical insurance services to locals and expatriates in Cyprus. Nevertheless, as many customers have noticed our international medical insurance plans have some limitations regarding the expatriates with permanent residence outside Cyprus. This has to do with the insurance regulations in the countries of the expatriates.

Firstly, there are certain countries with insurance regulations which require all residents to have medical insurance, but where there are very specific features the medical insurance must have. In practice, residents of these countries must purchase a specially designed and locally licensed plan, if they are to meet the regulations. They will typically not meet the regulations if they instead purchase an international medical plan such as ours, even if our plan provides a superb overall level of cover. For these reasons we do not cover people who have their main residential address in countries of this kind, good examples being the USA, Canada or the UAE.

Limitations of Area of Cover

Mon, 09 Apr 2018 00:00:00 +0000

Our clients can purchase our plans with a geographical Area of Cover which is not fully ‘Worldwide’, e.g. ‘Europe’ or ‘Worldwide excluding USA’. Those clients have chosen to restrict their core medical benefits to a specified Area. However, they enjoy a special ‘bonus’ benefit which is ‘Out of Area’ cover. This will cover them for emergency in-patient medical treatment during any trips outside their chosen Area (for example to the USA), up to a maximum annual value of €60,000 and for up to 42 nights per year. As it is obvious, we do not intend to provide full cover outside of the chosen core Area, but we provide a useful ’safety net’. In January 2018 we had a recent claim under this benefit from a member who had been in a car crash during a short trip to the USA.

Why we choose ALC Health?

Mon, 09 Apr 2018 00:00:00 +0000

Many of our clients ask about the insurance industry rankings and why we chose to cooperate with specific international medical insurance providers, such as ALC Health. Unfortunately, there are not any official published statistics from any of the international medical insurers, for this reason the task of our team and its advisers was extremely difficult. Nevertheless, we are keen to provide a short insight about our choices.

The reason why we chose to cooperate with ALC Health are:

Enter the Chinese Market

Mon, 12 Mar 2018 00:00:00 +0000

Take part in the first International Trade Exhibition of China which will be held from 5 until 10 of November 2018 in Shanghai and promote effectively your company’s services and products in the most dynamic economy of the world. It is expected the participation of more than 150,000 businessmen from all over China.

In order to open the Chinese market to the world actively, Chinese President Xi Jinping announced that China will hold the first International import Expo of China (CIIE) starting from 2018. The relevant contents of the first Expo will now be released as follows to facilitate Cyprus-based companies to participate in the first fair.

Is 2018 the year of the next global financial crisis?

Sun, 11 Mar 2018 00:00:00 +0000

For Bill Gates, founder of Microsoft, the next financial crisis is just inevitable. During an interview on February 2018 hosted by the on-line social platform Reddit, Mr. Gates claimed that a global financial crisis similar to that triggered by the bankruptcy of Lehman Brother in September 2007 should be expected in the following two years. But which are the reasons behind Mr. Gates pessimism?

The Dow Jones Industrial average, the main stock index of the USA stock market, has increased by more than 65% in the last five years (2018), indicating a strong investor’s trust in the economic prospects of the global economy. The unemployment rate of the US economy decreased from 16% in 2010 to 4% in 2017, indicating a consolidation of both producers and consumers’ confident. The Non-performing loans in countries like USA and UK are less than 1,5% of the total credits, while countries like Russia try to keep this rate at less than 10%. The inflation rate in USA in 2017 was about 2% and in the main economies of Eurozone less than 1.5%. The regulatory framework introduced after 2007 for the support of the financial and banking system in the developed countries of OECD, such as the Dodd–Frank Wall Street Reform and Consumer Protection Act, seems to contribute to the creation of a more stable environment for financing. Nevertheless, the global economy is a giant with feet of clay.

THE TERMS THAT MAKE OUR HOUSE INSURANCE THE BEST!

Thu, 16 Nov 2017 00:00:00 +0000

Pitsas Insurances is one of the most experience providers of house insurance in Cyprus.

We tirelessly analyze the insurance products, provided by the most prestigious international insurance companies, and we hand-pick the contracts with the best terms.

Our comprehensive insurance policy beyond the standard covers is extended to cover:

Theft and attempted theft (Our policy covers theft not accompanied by actual forcible and violent breaking into or out of a Building or any attempt thereat).
Subsidence or heave of the site on which your buildings stand or land belonging to your buildings, or landslip.
Damage due to water escape, We will also compensate you for the costs you incur in locating the source of the damage up to €5,000 and the costs you incur in repairing, replacing or cleaning of any damaged pipes, tanks or installations up to €1,000, and the loss of metered water or petroleum up to €500.
Accidental damage to television, audio or video equipment, DVD players, digital boxes, games consoles, or to desktops personal computers and computer equipment along with any aerials, satellite dishes and their masts and fittings fixed to your buildings.
Money up to €500 and Credit Cards up to €1000.
Contents in the open up to €1,000.
Plants in the garden up to €500.
Power surge up €1,500.
Your public liability as owner and as occupier of your property up to €1,000,000.
Your liability to domestic employees up to the statutory limits.
Possibility to extend your coverage to include cover for personal possessions (watches, mobiles, i-pads, laptops, jewellery, etc) worldwide with high limits.
Possibility to extend your coverage to include cover for personal liability up to €400,000 worldwide for you and your family.

Benefits of our Group Insurance Policies

Tue, 10 Oct 2017 00:00:00 +0000

In Pitsas Insurances we offer an excellent range of options for corporate groups. For small groups especially, we offer discounted prices, flexibility about their choice of benefits, and preferential underwriting terms.

We are often asked ‘what is your minimum size for an employee group?’. We can actually set up a group scheme with just a single employee.

Why would this be of interest to a company? Firstly, the premium will be at a small discount to the price which would be paid by an individual (non-group) applicant. But the main advantage is that it makes it very easy for the company to add more employees at a later date. This is great for start-ups.

Paphos Real Estate Market

Tue, 12 Sep 2017 00:00:00 +0000

Paphos, a coastal city rich in history in culture located in the western part of Cyprus, is the capital of Paphos District. The area of the district is 1,393 km², which constitutes 15.1% of the total area of the island. According to the 2011 Census, it has a population of 90,295, out of which approximately 36% are overseas nationals compared to the average 24% for Cyprus. The local economy is mainly based on agriculture and tourism, with the district receiving about a third of tourist arrivals and having the highest number of four and five-star hotels on the island. The district is served by Paphos International Airport, the second-largest airport in Cyprus which is situated north of the city of Paphos and connects the island with a multitude of international destinations. Paphos has an A6 highway connection with the other major cities.

Directors & Officers Insurance

Sun, 27 Aug 2017 00:00:00 +0000

Surge of Lawsuits

According to the advisory company Towers Watson & Co during the decade 2001 – 2011 in USA the 69% of the public traded companies and the 21% of the private companies have faced a shareholder’s case suit.

In Cyprus, the financial crisis of 2013 created inevitably favorable conditions for the upsurge of lawsuits. Pointedly, the most renowned of these conditions are:

The commitment for social justice instigates government prosecutors to the intensification of investigations for the disclosure of scandals and wrongful acts.
Surge of competition. Companies are extremely suspicious against their competitors and they continuously try through complaints to incriminate them for unfair competition practices.
The tax system reformation will exercise pressure to the accounting offices and mistakes will be unavoidable
The insolvency and bankruptcy of companies due to financial problems will lead shareholders and creditors to fill a lawsuit.
The liquidity shortage will lead many companies to the breach of payment deals.
The expansion of cooperation between Cypriot companies with foreign will lead to the export of liability to foreign jurisdictions.
Legal firms are exposed to extreme risk due to their practice to become part as non-executive (nominee) directors to international companies whose activities not totally apprehend.

Definition of the D&O Insurance

Cyber Attack Coverage

Mon, 31 Jul 2017 00:00:00 +0000

The CAI helps clients prevent and safeguard against sensitive data breaches, computer hacking, employee error and more.

The coverage includes the following categories of expenses:

Cost for the assessment of the problem (forensics)
Cost of a Crisis Management Expert
Cost of informing affected clients.
Fines and sanctions against the company
Legal Advice.
Cost of the negotiator in the cases the hacker requires ransoms
Payment of ransoms. Our company cooperates with the global negotiations expert company NYA International which consists of former army officers and special agents.
Cost associated with computer restoration
Data recollection, recovery from electronic resources
Data recreation from nonelectronic sources
Public Relationship (PR) company will help you to rebuild your reputation.
Third party liability

Get a Quote: https://www.pitsasinsurances.com/en/quotes/cyber/

10 Reasons to insure Your Life

Mon, 05 Jun 2017 00:00:00 +0000

We all try hard to materialize our dreams, accomplish our aims, create a safe environment for those we love, and achieve a high standard of living. The path to the future and economic success is full of challenges, opportunities, and dangers.

Life insurance is the optimum solution for the protection of your family

Life insurance is the most important insurance program as it ensures sufficient monetary capital to the legitimate heirs in the case of a loss of life. Life insurance is based on the simple idea that with a relatively low amount of money you can ensure there will be substantial capital for your family when you are no longer with them. Additionally, you have the option, at any time, to enhance your family’s security with any financial program you already have (e.g. Pension, Health programs).

Car Accidents in Cyprus

Mon, 05 Jun 2017 00:00:00 +0000

According to the World Health Organization, more than 1.2 million people around the world die because of road accidents. This makes them a leading cause of preventable death globally, especially among young people. In the European Union alone, more than 26,000 people died on the roads in 2015, while Cyprus in particular topped the charts for the biggest increase in the number of fatal accidents that year. While the European Commission has adopted an ambitious Road Safety Programme that aims to drastically cut the number of road deaths by 2020, are those measures enough?

Why Medical Insurance is essential in Cyprus?

Mon, 05 Jun 2017 00:00:00 +0000

Nobody really plans on getting sick or hurt; people tend to forget there is a possibility of things like that happening until they actually happen. Unfortunately, getting quality healthcare can be very costly, which means it could become a massive financial burden for both the patient and his/her family. This is why medical insurance is absolutely essential if you want to be at ease about any possible issue that should arise.

What you should do in case of a car accident

Sun, 04 Jun 2017 00:00:00 +0000

In case of an accident, you need to take a number of steps that will insure the safety of those around you, keep your actions within the law and start the process of reviewing the insurance claim.

Step 1. Help the victims

Examine yourself and others for injuries.

If someone is injured as a result of an accident CALL EMERGENCY SERVICES AT 112 or ask somebody else to do it.

Road tax Cyprus 2025. How to renew your road tax

Sat, 03 Jun 2017 00:00:00 +0000

ROAD TAX CYPRUS 2022

Road (transport) tax is calculated depending on the volume (CC) of the engine, the weight of the vehicle, the type of fuel it uses, it's age and the volume of emissions of harmful substances into the environment. The proof of payment of tax is a road license, which indicates the date of its issue and the month of expiry (see the photo below).

Aviation Insurance (FAQ)

Thu, 01 Jun 2017 00:00:00 +0000

For the moment there are not any additional questions. Send your questions to the email: info@pitsasinsurances.com

Building And Contents Insurance (FAQ)

Thu, 01 Jun 2017 00:00:00 +0000

What is building and contents insurance?

Building and contents insurance, or house and contents insurance, works to protect your home and the contents inside your home from damages and loss.

House contents insurance is sometimes called personal property insurance. It goes into effect during covered losses and damages to help pay for the replacement or repair of belongings.

Building insurance, sometimes known as property or dwelling insurance, goes into effect during covered losses and damages to help pay for repair or rebuilding costs connected to the property’s structure.

C.A.R. Insurance (FAQ)

Thu, 01 Jun 2017 00:00:00 +0000

For the moment there are not any additional questions. Send your questions to the email: info@pitsasinsurances.com

Cyber Insurance (FAQ)

Thu, 01 Jun 2017 00:00:00 +0000

What is cyber insurance?

Cyber insurance, or cyber security insurance and cyber liability insurance, is designed to help reduce the financial risks of doing business online.

Cyber insurance is indispensable for companies that handle their customers’ or clients’ personal data online, such as credit cards.

It’s also crucial insurance for companies providing technology products or services to third parties.

What does cyber insurance cover?

Acquiring cyber insurance in Cyprus is usually a prerequisite when signing a business contract with a sizable international company.

Electronic Equipment Insurance (FAQ)

Thu, 01 Jun 2017 00:00:00 +0000

For the moment there are not any additional questions. Send your questions to the email: info@pitsasinsurances.com

Frequently asked questions: Motor Insurance

Thu, 01 Jun 2017 00:00:00 +0000

1. In which cases do you offer full (comprehensive) vehicle insurance (CASCO)?

Our company accepts clients' applications for full insurance for any type of vehicle and then, after careful consideration of each case, decides whether to accept or not accept that particular risk.

The main information that we take into account in such cases is: confirmed driving experience and driving experience in Cyprus or in countries with the same traffic rules (right-hand vehicles and left-hand navigation); the degree of vehicle use (frequent trips, increased mileage); history of accidents and insurance claims, the brand and model of the vehicle (to assess the availability of spare parts), and the engine power to determine the final performance of the vehicle.

House Insurance (FAQ)

Thu, 01 Jun 2017 00:00:00 +0000

1. I rent the house I live in, do I need the insurance?

Of course you do. We will be happy to offer you insurance for your property, even if it is not yours strictly speaking. Our only criteria are that the objects that you intend to insure must belong to you and, therefore, you have an economic interest that creates the need to protect them. To determine the values and objects to be insured, imagine that in some sort of unrealistic scenario, your house turns upside down. Anything that would fall down as a result of that is the content that you should insure.

Immigration Insurance (FAQ)

Thu, 01 Jun 2017 00:00:00 +0000

Do I need immigration insurance?

If you are applying for any type of residence permit, you are required to hold an immigration insurance policy, otherwise your application will not be valid and subsequently rejected.

Does a private medical insurance work instead of the immigration insurance?

Although a medical insurance policy has a more comprehensive coverage than the immigration insurance, it is not accepted for residence permit applications.

How long is the immigration insurance valid for?

Income Protection (FAQ)

Thu, 01 Jun 2017 00:00:00 +0000

Do I need income protection insurance?

The answer to this question depends on whether you want to protect yourself from income loss.

For many people, income protection insurance is an indispensable product, and it’s especially beneficial for self-employed people and people in business.

Income protection insurance can provide a regular source of money as an income replacement if you are temporarily or permanently incapacitated to work.

How does income protection insurance work?

Investment Insurance (FAQ)

Thu, 01 Jun 2017 00:00:00 +0000

What is investment insurance?

Investment insurance policies are two-for-one investment plans. Under an investment insurance plan, when you pay your premium, a part of it gets invested after a specific timeframe.

As the value of your premium increases, your investment also increases.

Investment insurance provides financial security and economic growth opportunities for the insured. It comprises two main parts: the insurance plan and investment.

Specifically, investment insurance is categorised within a broad category of unit-linked funds like savings insurances (e.g. saving and investment units).

Jointly Owned Building Insurance (FAQ)

Thu, 01 Jun 2017 00:00:00 +0000

For the moment there are not any additional questions. Send your questions to the email: info@pitsasinsurances.com

Life And Critical Illness (FAQ)

Thu, 01 Jun 2017 00:00:00 +0000

For the moment there are not any additional questions. Send your questions to the email: info@pitsasinsurances.com

Life and Riders Insurance (FAQ)

Thu, 01 Jun 2017 00:00:00 +0000

For the moment there are not any additional questions. Send your questions to the email: info@pitsasinsurances.com

Medical Insurance (FAQ)

Thu, 01 Jun 2017 00:00:00 +0000

How does medical insurance work?

Medical insurance typically covers an insured’s medical expenses in cases of illness, disease or accidental bodily injury.

In some cases, the insurance company will pay for medical expenses upfront, but the insured may have to pay upfront in other cases.

In that case, once the insured has provided the insurance company with the medical invoices and receipts, they will be compensated.

What does medical insurance cover?

Professional Indemnity insurance worldwide and in Cyprus

Thu, 01 Jun 2017 00:00:00 +0000

Professional liability insurance (PLI), also called professional indemnity insurance (PII) and commonly known as Errors and Omissions Insurance (E&O), is a form of insurance that helps protect sole proprietors and companies providing professional consulting and/or other services from the full legal and defense costs arising from the clients’ negligence (error, omission) claims and damages awarded in such civil claims. Over the past decades, this type of insurance has become widespread throughout the world and in Cyprus in particular. The lever of progress in this case, oddly enough, was the direct consumers of the services of professional specialists, who from year to year take an increasingly active position in protecting their rights and interests.

The object of professional liability insurance is the civil liability of the insured for the harm/ damage caused to the life, health and/or property of third parties in the course of their conscientious exercise of professional activity. Errors and omissions, as well as negligence committed on the part of the policyholder in the performance of his professional duties, if the harm is caused unintentionally, may serve as the basis for making claims. Professional liability insurance can take different forms and names depending on the profession.

Quite often professional liability insurance coverage includes the costs of attorneys, including if the litigation turns out to be unfounded. Insurance coverage does not include criminal prosecution or all forms of legal liability under civil Law, but only those specifically listed on the insurance policy. Forms of civil liability that are not listed in the insurance policy may be covered by other types of insurance. For certain types of professional activities, professional liability insurance is compulsory by Law.

In this article Pitsas Insurances will try to answer the most important questions on topics related to professional liability insurance, namely:

1. What are the reasons for professional liability insurance?

Surgical & Hospital Cash Benefit (FAQ)

Thu, 01 Jun 2017 00:00:00 +0000

For the moment there are not any additional questions. Send your questions to the email: info@pitsasinsurances.com

Travel Insurance (FAQ)

Thu, 01 Jun 2017 00:00:00 +0000

What is travel insurance?

Travel insurance is a high-cover product solely made to cover the risks and potential financial losses that can occur when travelling.

The risks included in travel insurance range from minor issues to major ones, like missed plane connections to critical illness.

What does travel insurance cover?

There are many types of travel insurance, and each has significant differences. However, there are some similarities between standard plans.

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