What does business insurance cover?
Our business insurance contracts include commercial property insurance (building and content), employer’s liability insurance, general public liability insurance, business interruption insurance and product liability. We can also provide professional indemnity, directors and officers insurance and cyber insurance as a separate business contract. For more information, click on the corresponding links on our website’s main menu.
Am I obligated by law to have business insurance for my company?
A main part of business insurance is employer’s liability insurance, which is obligatory for all Cypriot companies. In case you have no employees, you do not need to have employer's liability insurance. You can just insure your content and premises.
Can I have a separate employer’s liability contract?
Yes, we provide the option of signing a separate employer’s liability contract in case you do not wish to insure your equipment or premises. For more information, click on the relevant link on our website’s main menu.
What happens if my employees increase during the year?
Most insurance companies ask you to report your employee number during the previous year so they can retroactively ask for more insurance premiums in case there was an increase. Our company’s policy is to ask for your current employee number during your contract renewal and exclusively adjust future premiums.
I work at home, can I insure my electric equipment?
Yes, we offer the option of insuring your electric equipment if you work at home. In selected cases we can also provide you public liability insurance if clients and suppliers visit your house.
Which documents are needed for business insurance in Cyprus?
A list of the value of objects comprising the content of your premises; your company’s registration number with social insurance; a list detailing your total employee number, their salary and the nature of their work. We additionally need a copy of your company’s registration documents with your company’s registration number, investors and address. Finally, we need a utility bill clearly stating the company’s name and address.
What do I need to do in case of a work accident?
You will need to immediately contact the social insurance services and report what has happened. Your insurance will provide compensation depending on what has been stated in the report of social insurances. During the examination of your report from the insurance company, you will be asked to provide a list of all the workers currently employed by you.