Business Insurance in 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 is a set of policies that protect a company against legal liability, property damage and staff-related risks. One cover, employer's liability, is required by law for every employer. The rest you choose to match what your 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 broker, 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)
Cover 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.
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.
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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.
Indicative 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.
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 broker we answer to you, not to an insurer, and we arrange cover for businesses across Nicosia, Limassol, Larnaca and Paphos.
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