Professional Indemnity Insurance in Cyprus
Protect your practice from negligence claims. Mandatory for lawyers, doctors, engineers, and more. Get covered in minutes.
PI insurance is legally required for lawyers (Advocates Law Cap. 2), doctors (GESY Law), ETEK engineers, real estate agents (Law 71(I)/2010), insurance intermediaries (Law 38(I)/2016), and CySEC fund administrators (Law 101(I)/2025). Practising without cover means losing your licence.
Why DigiCare
Why professionals trust DigiCare
Compare & Save
We're an independent broker. We compare PI rates from multiple licensed Cyprus insurers so you don't overpay. You're not stuck with one company's price.
Same-Day Certificate
Need proof of cover for a regulator or client? Submit your details online and we'll get your PI certificate to your inbox the same day.
Bundle & Save Up to 25%
Combine professional indemnity with public liability and employers' liability into one package. Most of our professional clients save 15-25% this way.
3-Language Support
We speak English, Russian, and Greek. Every document, every call, in your language. Useful if you're an expat professional setting up in Cyprus.
How much does professional indemnity insurance cost?
I get asked this weekly by consultants, lawyers, and engineers moving to Cyprus. Here's the honest answer: it varies a lot by profession. A solo consultant with low-risk advisory work can pay as little as €180 per year. A medical practice or engineering firm will pay more because the exposure is higher. Here's what I typically see across our client base.
| Your Practice | Estimated Annual Premium |
|---|---|
| Freelance consultant | €180-350 |
| Small law firm (1-3 lawyers) | €400-800 |
| Medical practice | €600-1,200 |
| Architecture / engineering firm | €700-1,500 |
| Financial services company | Quote required |
Premiums shown are indicative figures based on publicly available broker market data (Pitsas Insurances, SST Insurance). Actual rates depend on your insurer, profession, turnover, claims history, and limit of indemnity.
Is professional indemnity insurance mandatory in Cyprus?
For six regulated professions, yes. Your regulator won't let you practise without it. I deal with renewal deadlines for clients in all these categories, and the consequences of a lapse are real: you lose your licence or registration until cover is back in place.
| Profession | Governing Law | Minimum Limit | Enforced By | Penalty |
|---|---|---|---|---|
| Lawyers | Advocates Law Cap. 2, s.6A(7) | €170,860/claim | Cyprus Bar Association | Cannot practise |
| Doctors (GESY) | GESY Law Art. 56 | Set by HIO | Health Insurance Organisation | Cannot contract with GESY |
| Engineers (ETEK) | ETEK Regulations | Varies by project | ETEK | Cannot submit designs |
| Real estate agents | Law 71(I)/2010 | €85,342/claim | Ministry of Interior | Cannot register |
| Insurance intermediaries | Law 38(I)/2016, s.361 | €1,564,610/claim | ICCS | Cannot operate |
| Fund administrators | Law 101(I)/2025 | 0.5% of AUM | CySEC | Cannot obtain licence |
Even if your profession isn't on this list, PI cover may still be a contractual requirement. Many clients and contracts in Cyprus won't engage a professional who can't show proof of indemnity insurance. If you're unsure, ask us.
Which professionals need indemnity insurance in Cyprus?
Beyond the legal mandate, plenty of professionals carry PI cover because one bad project or one unhappy client can wipe out a year's revenue. Here's who I work with most often.
Lawyers & legal consultants
The Cyprus Bar Association requires every practising advocate to hold PI cover with a minimum of €170,860 per claim. Most firms opt for higher limits because a single malpractice allegation can run into six figures. Expect premiums from €400 per year for a solo practitioner.
Doctors & healthcare professionals
If you contract with GESY, you must carry PI insurance. Private practitioners increasingly carry it too, especially specialists. Medical claims are among the highest in value, and premiums reflect that: €600-1,200 per year for a typical practice.
Engineers & architects
ETEK won't accept design submissions without proof of cover. Even for non-ETEK projects, developers and construction firms often require PI insurance from their consultants. Engineering and architecture firms typically pay €700-1,500 per year.
Real estate agents
Registration with the Ministry of Interior requires PI cover of at least €85,342 per claim under Law 71(I)/2010. This applies to every licensed agent. For the premium range on this, get in touch for a quick quote.
Financial services & fintech
Insurance intermediaries need at least €1,564,610 per claim under Law 38(I)/2016. Fund administrators licensed by CySEC need cover equal to 0.5% of assets under management. These are high-limit policies and premiums are quoted individually.
IT consultants & software developers
Not legally required, but increasingly expected. A coding error, a data breach, or a missed deadline can lead to a client claim for financial loss. This is often called errors and omissions (E&O) insurance. If you work with international clients, they'll almost certainly ask for it.
What does professional indemnity insurance cover?
Professional indemnity insurance, also called professional liability insurance, pays out when a client alleges that your professional work, advice, or service caused them a financial loss. It covers both the compensation and the legal costs to defend you.
What's covered
Negligent advice or professional errors
Breach of professional duty
Unintentional breach of confidentiality
Loss or damage to client documents in your care
Defamation arising from your professional work
Intellectual property infringement (unintentional)
Legal defence costs, including for unfounded claims
What's typically not covered
Intentional wrongdoing or fraud
Bodily injury to third parties (that's public liability)
Employee injuries (that's employers' liability)
Fines and regulatory penalties
Claims known before the policy start date
Trading losses or insolvency
Claims-made basis
PI policies in Cyprus operate on a claims-made basis. This means the policy that responds is the one in force when the claim is reported, not when the alleged error happened. Two things matter here: your retroactive date (the earliest date from which past work is covered) and run-off cover (extended reporting period after you close your practice or retire). If you're switching insurers, make sure the retroactive date carries over. Winding down your practice? Buy run-off cover. The Cyprus Bar Association provides for up to 2 years for advocates; other professions can arrange longer periods depending on the insurer. We handle both.
Professional indemnity vs public liability vs employers' liability
These three types of business insurance protect against different risks. I explain this distinction to clients almost every day, so here it is in plain terms.
| Professional Indemnity | Public Liability | Employers' Liability | |
|---|---|---|---|
| Covers claims from | Your clients | Customers, visitors, public | Your employees |
| What it covers | Financial loss from professional errors | Bodily injury and property damage | Workplace injury and illness |
| Legally required? | Yes, for 6 regulated professions | No (except holiday rentals) | Yes (Law 174/1989) |
| Typical cost | From €180/yr | From €250/yr (or €50 as add-on) | From €75/yr |
| Example claim | Lawyer misses a filing deadline, client loses case | Visitor trips in your office | Employee develops RSI from workstation |
At DigiCare, we bundle all three for up to 25% less than buying them separately. Most professional firms we work with carry at least two of these.
Get a Combined QuoteHow It Works
How to get professional indemnity insurance
Tell us about your practice
Share your profession, annual turnover or fee income, number of partners or employees, and the cover limit you need through our online form.
We find your best rate
We compare quotes from our panel of licensed Cyprus insurers and send you the best options side by side.
Get your certificate
Pick your policy and receive your PI certificate by email the same day. Ready for your regulator, your clients, or your next contract.
FAQ
Frequently asked questions
Protect your practice. Get covered today.
One negligence claim can exceed your entire annual revenue. Legal defence alone costs thousands, even when you've done nothing wrong. Don't wait for a claim to find out you're uninsured.