Employer’s liability insurance Cyprus

In Cyprus, the employer’s liability insurance is compulsory for all companies. It covers the employer against lawsuits by employees for fault or negligence. The minimum requirement limits of liability are: (a) for each accident or disease in relation to each employee, the minimum coverage limit amounts to €160,000 (b) for each incident or series of incidents arising from the same cause, the minimum coverage limit amounts to €3,415,000 (c) for each insurance period, the minimum coverage limit amounts to €5,125,000

No! In case the director is also the company’s sole employee, then there is no obligation to have this insurance.

You are obliged to have employer's liability insurance only in the case of employees who are registered with the Social Insurance Authorities of Cyprus. Freelancers cooperating with you will have to have this insurance if they have individuals working for them.

At the renewal of their contact, many insurance companies request the number of the previous year’s employees so as to ask for retroactive premiums in case of an increase. According to our company’s policy, at the renewal of the contract we request the number of current employees, thus only adjusting your future premium.

The main three factors determining the cost is the number of individuals employed by the company, the nature of their work (manual, clerical) and their salary.

The company’s registration number at Social Insurance. A list with the total number of your employees, their salaries and the nature of their work (manual, clerical). Additionally, we need a copy of all documents pertaining to your company’s registration including the company’s registration number, the shareholders and its address. Finally, we need a utility bill (e.g. electricity, telecommunication) with the company’s name and address clearly stated on it.