Business Insurance Cyprus
Complete insurance protection for your business — liability, property, people and fleet
Business Insurance Cyprus
What is business insurance in Cyprus?
Business insurance in Cyprus starts from about €75 a year for employer's liability and about €250 for public liability. Employer's liability is the one cover the law requires, under Law 174(I)/1989, at €160,000 per employee. Commercial property, business interruption, cyber and professional indemnity are chosen to match what the business actually does.
This page covers commercial insurance for companies registered in Cyprus: what the law requires, what each cover type does, and what it costs. It applies to limited companies, partnerships and the self-employed alike, from a two-person consultancy in Nicosia to a hotel in Paphos.
Most business covers are optional. Employer's liability, motor cover for company vehicles and social insurance registration are not.
DigiCare is an independent insurance agency, not an insurer. We compare policies from multiple Cyprus-licensed insurance companies, so the recommendation you get is based on your risk, not on one company's product range. We have arranged cover in Cyprus for 47 years.
Below you will find the legal minimums with official sources, indicative prices, and links to each cover type in detail.
Required by Law
Which business insurance is mandatory in Cyprus?
Three obligations apply to almost every business in Cyprus that employs people or runs vehicles. Everything else, including property and liability packages, is optional and driven by contracts, leases and common sense.
| Cover | Legal basis | Who needs it | Statutory minimum |
|---|---|---|---|
| Employer's liability insurance | Law 174(I)/1989 | Any business with employees | €160,000 per employee |
| Motor third-party liability | Law 96(I)/2000 | Company-owned or operated vehicles | €38.6M bodily injury / €1.3M property damage per event |
| Social insurance registration | Social Insurance Law | Every employer, before the first hire | Employer contribution of 8.8% of insurable earnings |
Employer's liability policies must also carry at least €3,415,000 per event and €5,125,000 per insurance period. Court awards can exceed the statutory minimums, so many businesses insure above the legal floor.
Sources: Department of Labour Inspection · CyLaw — Law 174(I)/1989 · Business in Cyprus (gov.cy)
Optional but usually needed
Which business insurance is optional in Cyprus?
Everything outside the three legal obligations above is a commercial decision. In practice it is your lease, your client contracts and your tender documents that decide, not the law. These are the covers Cyprus businesses buy most often and the limits they buy them at.
| Cover | Who usually buys it | Typical limit | Indicative from |
|---|---|---|---|
| Public liability | Any business clients, customers or the public visit | €500,000 to €2,000,000 | €250/yr, or about €50 added to a package |
| Professional indemnity | Regulated professions and anyone paid for advice | €200,000 to €1,000,000 | Quote-based on fee income |
| Commercial property and stock | Owned or leased premises, fit-out, equipment | Rebuild or replacement value | Quote-based on sums insured |
| Business interruption | Businesses that stop earning if the premises close | 12 to 24 months gross profit | Quote-based on gross profit |
| Cyber | Anyone holding customer data or taking card payments | €100,000 to €1,000,000 | Quote-based on turnover |
| Group medical | Employers competing for staff | Plan-dependent annual limit | €20 per employee per month |
Limits shown are the bands most commonly bought in Cyprus, not statutory minimums. Nothing in this table is compulsory, but a landlord or a tender can make any of it contractual.
Which cover does my business need?
Most owners describe themselves by trade, not by policy name. Pick the closest match and you will see the covers that business actually buys in Cyprus, which of them the law requires, and where to price each one.
Shop or retail business
Retail carries two exposures at once: a customer or passer-by injured on your premises, and the stock and fit-out you would have to replace after a fire, flood or break-in. Employer's liability applies the moment you take on your first shop assistant.
What this business normally insures
- Employer's liability insuranceRequired by law
- Public liability insurance
- Commercial fire and special perils
- Product liability insurance
- Business interruptionOn enquiry
Not an exact match? Tell us what the business does and how many people it employs, and we will map the covers and price them.
Get a Business QuoteRestaurant, cafe or bar
Food businesses add product liability to the usual retail risks. A customer made ill by what you served is a products claim, not a public liability one. Kitchen fire and the trading income lost while you rebuild are the other two that hurt.
What this business normally insures
- Employer's liability insuranceRequired by law
- Public liability insurance
- Product liability insurance
- Commercial fire and special perils
- Business interruptionOn enquiry
Not an exact match? Tell us what the business does and how many people it employs, and we will map the covers and price them.
Get a Business QuoteClinic or medical practice
Clinical negligence is the exposure that matters, and professional indemnity is what answers it. Patient records also make a clinic a cyber target, and any practice with staff owes employer's liability from the first hire.
What this business normally insures
- Professional indemnity for doctors
- Employer's liability insuranceRequired by law
- Public liability insurance
- Cyber insurance
- Commercial fire and special perils
Not an exact match? Tell us what the business does and how many people it employs, and we will map the covers and price them.
Get a Business QuoteConstruction or contracting
Sites need cover on three fronts: the works themselves, the people on them, and the public around them. Contracts and tenders in Cyprus routinely specify a minimum public liability limit before you can sign.
What this business normally insures
- Contractors' all risks
- Employer's liability insuranceRequired by law
- Public liability insurance
- Plant and machineryOn enquiry
- Professional indemnity for architects and engineers
Not an exact match? Tell us what the business does and how many people it employs, and we will map the covers and price them.
Get a Business QuoteProfessional services or consultancy
When you are paid for advice, the claim that hurts is a client saying your work cost them money. Professional indemnity answers that, and for several regulated professions in Cyprus it is a condition of the licence. Public liability only comes into it if clients actually visit you.
What this business normally insures
- Professional indemnity insurance
- Professional indemnity for consultants
- Cyber insurance
- Employer's liability insuranceRequired by law
- Directors and officers (D&O)On enquiry
Not an exact match? Tell us what the business does and how many people it employs, and we will map the covers and price them.
Get a Business QuoteIT, software or online business
For software and online businesses the loss is almost always financial rather than physical: a failed delivery, a breach, a client's data. Professional indemnity and cyber do the work a property policy cannot.
What this business normally insures
- Cyber insurance
- Professional indemnity for consultants
- Employer's liability insuranceRequired by law
- Technology errors and omissionsOn enquiry
- Directors and officers (D&O)On enquiry
Not an exact match? Tell us what the business does and how many people it employs, and we will map the covers and price them.
Get a Business QuoteRegulated or financial firm
Regulated firms in Cyprus face professional indemnity requirements set by their own regulator, so the limit is rarely a free choice. Directors also carry personal exposure under Companies Law Cap. 113, and handling client money makes crime cover a live question.
What this business normally insures
- Professional indemnity for financial firms
- Cyber insurance
- Directors and officers (D&O)On enquiry
- Fidelity and commercial crimeOn enquiry
- Employer's liability insuranceRequired by law
Not an exact match? Tell us what the business does and how many people it employs, and we will map the covers and price them.
Get a Business QuoteImport, export or distribution
Goods you make, import or move create liability that travels with them. Product liability follows the item to the end user, cargo cover follows the shipment, and fleet cover follows the van.
What this business normally insures
- Product liability insurance
- Marine cargo and goods in transitOn enquiry
- Public liability insurance
- Commercial fleet insurance
- Employer's liability insuranceRequired by law
Not an exact match? Tell us what the business does and how many people it employs, and we will map the covers and price them.
Get a Business QuoteCover Types
Types of business insurance, and which your company needs
Liability cover
Pays when someone holds your business responsible for injury, damage or bad advice. Employer's liability, public liability, professional indemnity, products liability, directors and officers.
Professional indemnity for doctors · Professional indemnity for lawyers · Professional indemnity for accountants and auditors · Professional indemnity for architects and engineers · Professional indemnity for financial firms · Professional indemnity for consultants
Property and continuity
Covers premises, contents and stock against fire, theft and weather, and replaces lost income while you rebuild. For most SMEs this is bundled into one package policy.
People cover
Group medical insurance and personal accident cover help you hire and keep good staff. Employer premiums for group medical plans are tax-deductible.
Specialist cover
Cyber insurance for data breaches and ransomware, fleet policies for commercial vehicles, goods in transit for anything you move or deliver.
Not sure which of these apply to you? Tell us what your business does and how many people you employ, and we will map the covers you need, with prices.
Get a Free QuoteGet a Free QuoteIndicative Prices
How much does business insurance cost in Cyprus?
Entry prices are lower than most owners expect. Employer's liability for a small business starts from about €75 per year, and public liability for a small consultancy from about €250 per year. Group medical plans start from €20 per employee per month.
Premiums rise with turnover, headcount, profession, cover limits and claims history. Package policies and professional indemnity are always quoted individually, so treat every figure here as a starting point rather than a promise.
Indicative figures from DigiCare's published guides. Exact premiums are always quote-based.
Business insurance cost calculator
Price the two liability covers almost every Cyprus business buys first. Enter turnover or payroll and you get a real annual premium, not a brochure range. Property, cyber and group medical are quoted individually because they depend on sums insured.
General Information
Please answer all questions honestly and to the best of your knowledge. Failure to do so could affect your level of cover or any claims you make.
Insured Details
Questions
Please answer all questions honestly and to the best of your knowledge. Failure to do so could affect your level of cover or any claims you make. In the case an employer employs only one person, the employers liability cover will be limited to that specific person.
Indicative premiums from a Cyprus-licensed insurer, shown before tax and fees. The final figure depends on trade, claims history and the limit you choose.
Choosing an insurer
How to choose the best business insurance in Cyprus
There is no single best business insurance in Cyprus, because the covers that matter change completely between a restaurant and a fund administrator. What does transfer between them is how you compare two quotes. Five checks, in the order they cost you money.
- 1
Check the limit against your contracts, not your gut
Commercial leases and public tenders in Cyprus name a minimum public liability limit. A cheaper policy written below that figure cannot be used to satisfy the contract, so the saving is worth nothing.
- 2
Read the exclusions before the premium
Two quotes at the same limit can differ enormously underneath. Heat-work exclusions on contractors, subsidence on property, and social-engineering sub-limits on cyber are where Cyprus policies usually diverge.
- 3
Match the indemnity period to your real rebuild time
Business interruption pays for a fixed period. Twelve months is standard and is often too short for a commercial rebuild in Cyprus once permits are counted, which is why twenty-four is common for owned premises.
- 4
Count the policies, not just the premiums
A single package with one renewal date and one claims contact is materially easier to run than five standalone policies renewing in five different months, and it usually prices better than the parts.
- 5
Confirm the insurer is licensed in Cyprus
Insurers writing Cyprus business are supervised by the Superintendent of Insurance. A locally licensed insurer means the claim is handled and paid locally, which matters far more than a familiar international brand name.
The best business insurance in Cyprus is the cheapest policy that still meets every limit your contracts specify and excludes nothing you actually do. Price is the last check, not the first.
Employee Health Benefits
Group Medical Insurance for Your Team
Group medical insurance is the most requested employee benefit in Cyprus. Plans start from just €20 per employee per month, and employer premiums are 100% tax-deductible since 2024 under Circular 3/2024.
We compare plans from Atlantic, MetLife, Universal Life, Trust, and more. You get a side-by-side comparison within one business day.
Whether you have 3 employees or 300, we find the right balance of coverage, cost, and tax efficiency for your business.
Per employee. Actual rates depend on group size and demographics.
- 3 to 500+ vehicles
- €38.6M / €1.3M minimum limits
- 3 cover tiers (TPO / TPF&T / Comprehensive)
- Quotes within 2 hours on business days
- 24/7 road and accident assistance
Featured: Fleet Insurance
Fleet Insurance for Cyprus Businesses
Cover 3 to 500+ commercial vehicles under one policy with one renewal date and one claims contact. Mini-fleet rating starts from 3 vehicles and scales smoothly as your fleet grows.
Mandatory under the Motor Vehicles (Third Party Insurance) Law 96(I)/2000, with statutory minimum limits of €38.6M bodily injury and €1.3M property damage per event. Penalties for an uninsured commercial vehicle reach €3,000 per first offence.
Mid-term vehicle additions and driver changes handled the same business day. EU Green Card cover, 24/7 road and accident assistance for vehicles up to 3.5 tonnes, and cover in the occupied territories of Cyprus all included.
SME Packages
One package or separate policies?
An SME package policy bundles property, public liability, money and fidelity cover into a single contract with one renewal date and one claims contact. For a shop, café, office or small workshop it is usually the cheapest way to get broad cover.
Standalone policies still earn their place as you grow. Regulated professions need their own professional indemnity, companies with outside investors add directors and officers cover, and any business holding customer data should price cyber insurance. A broker's job is to right-size this split rather than sell you one of everything.
Get a quote
Get a business insurance quote
Tell us what the business does, how many people it employs, and which covers you already hold. We compare Cyprus-licensed insurers and come back with named policies and prices, usually within one business day.
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FAQ
Business insurance in Cyprus: your questions answered
How to get business insurance in Cyprus
Three steps. Tell us what your business does, how many people you employ and what you own. We compare policies from Cyprus-licensed insurers. You receive the options, the prices and the product information document (IPID) before you commit to anything.
As an independent insurance agency we answer to you, not to an insurer, and we arrange cover for businesses across Nicosia, Limassol, Larnaca and Paphos.
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