Professional Indemnity Insurance in Cyprus
Cover for when your advice or your work leaves a client out of pocket. You'll also see it called professional liability or errors and omissions (E&O). It's a licence condition for lawyers, doctors, engineers, accountants, and several other professions in Cyprus.
DigiCare is an independent Cyprus insurance broker. PI insurance is a legal condition of holding or renewing a practising licence for advocates (Advocates Law Cap. 2, Article 6E), doctors (Law 89(I)/2001), ETEK-registered architects and engineers (Law 224/1990), real estate agents (Real Estate Agents Law 71(I)/2004, as amended), insurance intermediaries (EU Insurance Distribution Directive), and CySEC or Central Bank of Cyprus regulated firms. Practising without cover means losing your licence.
What Is PI Insurance
What is professional indemnity insurance?
Professional indemnity insurance covers your legal liability when your advice, work, or design causes a client a financial loss. It pays your legal defence costs, any settlement you reach, and the damages a court awards against you. The cover sits with your business, not your client.
Professional indemnity, professional liability, and errors and omissions (E&O) insurance are three names for the same cover. You will see all three in Cyprus contracts and tenders.
To be clear: "PI insurance" here means Professional Indemnity, not any "PI Care" health brand. DigiCare is the broker that arranges the cover. This page is for professionals practising in Cyprus under Cyprus and EU regulators.
Why DigiCare
Why professionals trust DigiCare
Compare & Save
We're an independent broker. We compare PI rates from several licensed Cyprus insurers so you don't overpay. You're not stuck with one company's price.
Same-Day Certificate
Need proof of cover before a regulator or licence-renewal deadline? Submit your details online and we'll get your PI certificate to your inbox the same day.
Bundle & Save Up to 25%
Put professional indemnity, public liability and employers' liability in one package. Most of the professional clients we set up this way save 15 to 25 percent against buying the three separately.
Multilingual Support
We work in English, Russian, and Greek, and our site runs in five languages. Useful if you're an expat professional or an international firm setting up in Cyprus.
Is professional indemnity insurance mandatory in Cyprus?
Yes. For most regulated professions in Cyprus, PI insurance is a legal condition of holding or renewing a practising licence. That covers lawyers, accountants and auditors, architects and engineers, real estate agents, doctors, and insurance intermediaries. Even when it isn't legally required, client contracts and government tenders often demand it, so consultants and freelancers need it too.
I deal with these renewal deadlines weekly, and a lapse is real: you lose your licence or registration until cover is back in place.
| Profession | Regulator | Minimum limit per claim | Aggregate / per period | Legal basis | Penalty if uninsured |
|---|---|---|---|---|---|
| Lawyers (advocates) | Cyprus Bar Association | €170,860 | €341,720 | Advocates Law (Cap. 2), Article 6E | Cannot practise |
| Accountants & auditors | ICPAC | Set by ICPAC, linked to fee income | Confirm with ICPAC | ICPAC membership rules | Cannot practise |
| Architects & engineers | ETEK | €300,000 (market minimum quoted for ETEK cover) | per period | Scientific & Technical Chamber Law 224/1990 | Cannot submit designs |
| Real estate agents | Real Estate Agents Registration Council | €200,000* | varies | Real Estate Agents Law 71(I)/2004, as amended (consolidated 2010) | Cannot register |
| Doctors & healthcare (GeSY) | Cyprus Medical Council / GeSY | Varies by specialty, confirm with the Medical Council | varies | Law 89(I)/2001 | Cannot practise / contract with GeSY |
| Insurance intermediaries | Superintendent of Insurance (ICCS) | around €1.56m | around €2.32m (EU-indexed) | EU Insurance Distribution Directive (2016/97) | Cannot operate |
| Investment firms, EMIs & payment institutions | CySEC / Central Bank of Cyprus | Set by regulator formula, varies | varies | MiFID II / IFR; PSD2 | Cannot obtain or keep licence |
Limits last verified: 11 June 2026. Regulators publish updated schedules, so confirm the current minimum with your regulator before relying on it.
*The government registration requirement on businessincyprus.gov.cy states €200,000 of cover. Earlier published figures (€85,342 to €100,000 per claim) appear to be outdated. Confirm the current minimum with the Real Estate Agents Registration Council.
Want the full breakdown for your profession? Read our guide to professional indemnity requirements by profession in Cyprus, with verified limits, laws and regulators for all eight regulated groups.
How much professional indemnity cover do you need?
Your regulator sets the minimum (see the table above), but treat that figure as the legal floor rather than the right amount of cover for your work. To decide where to set your limit above it, look at:
The value of your largest single project or engagement.
What your client contracts and tender documents require.
Your annual fee income or turnover.
Larger clients and public tenders often ask for higher limits than the legal minimum. We'll recommend a limit that fits your work when we prepare your quote.
How much does professional indemnity insurance cost in Cyprus?
Professional indemnity insurance in Cyprus starts from around €180 per year for a low-risk sole practitioner. The price rises with your profession, your turnover, and the cover limit you need. Financial-services firms pay substantially more because their required limits are higher. Here's what I typically see across our client base.
What drives the price
Profession risk: a financial adviser carries more exposure than a graphic designer.
Annual turnover or fee income.
The limit of indemnity you choose.
Your claims history and retroactive period.
| Your Practice | Indicative 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 |
These are indicative starting premiums based on DigiCare's broker experience placing PI cover for Cyprus professionals. Your final premium depends on your profession, turnover, chosen limit, claims history, and retroactive period. Financial services firms are always quoted individually because their limits follow regulator-set formulas.
Pricing reviewed by Paul Bendzik, licensed Cyprus insurance brokerWhich professionals need indemnity insurance in Cyprus?
Plenty of professionals carry PI cover even where the law doesn't force them to, because a single bad project or one unhappy client can swallow a year's revenue. Here's who I arrange it for most often.
Lawyers & legal consultants
A missed limitation deadline, a flawed contract clause, or the wrong corporate structure can cost a client six figures, and they will look to you for it. The Cyprus Bar Association makes PI cover a licence condition, and most firms buy above the minimum because one malpractice allegation can dwarf it.
Accountants & auditors
A VAT filing error, a missed deadline with the Tax Department, or a wrong audit opinion all turn into client claims fast. ICPAC makes PI cover a condition of practice, with the minimum linked to your fee income. We arrange cover at or above it for sole practitioners and firms alike.
Doctors & healthcare professionals
A misdiagnosis or a treatment complication can produce the highest-value claims of any profession, and defence costs run high even when you did nothing wrong. Cover is required for Medical Council registration and GeSY contracting, with limits that vary by specialty.
Architects & engineers
A design defect that surfaces two years after handover can mean a structural remediation claim from the developer. ETEK won't accept design submissions without proof of cover, and construction firms ask for it on private work too.
Real estate agents
An overlooked planning restriction or a wrong representation about a property can cost a buyer real money, and agents get sued for it. PI cover is a condition of registration with the Registration Council, so check yours before you renew.
Financial services & fintech
Investment advice that goes wrong, a payment sent to the wrong place, a compliance slip that regulators pick up on. Claims in this sector are large and they're frequent. CySEC and Central Bank of Cyprus licensing both demand PI cover, and the required limits are the highest in the market. We quote these individually.
Not on the list? IT consultants, designers, freelancers, and expat professionals working from Cyprus increasingly need PI cover, often called E&O, because client contracts demand it, especially with international clients. We arrange cover for non-regulated professions too.
What does professional indemnity insurance cover?
Professional indemnity insurance, also called professional liability or E&O 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
Work done before your retroactive date
How a claim looks in practice
An architect's design defect leads to a structural remediation claim from the developer.
An accountant's filing error triggers a tax penalty, and the client claims the cost back.
A lawyer misses a limitation deadline, the client loses the case, and sues for the loss.
Claims-made basis
PI policies in Cyprus work on a claims-made basis. The policy that responds is the one in force when the claim is reported, not the one you held when the alleged error actually happened. Two dates matter here. Your retroactive date is the earliest point from which past work is covered, and run-off cover is an extended reporting period that keeps you protected after you close the practice or retire. If you switch insurers, the retroactive date has to carry over or you'll open a gap. If you're winding down, you'll want run-off cover. We sort out both.
Professional indemnity vs public liability vs employers' liability
People mix these up constantly, so let's be clear: PI is not public liability. PI covers financial loss from your advice or work. Public liability covers physical injury or property damage to third parties. Employers' liability covers your staff. Here it is side by side.
| 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 most 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 |
Directors should also consider D&O insurance, which covers a director's personal liability for management decisions and is distinct from PI. CySEC-regulated firms often need PI, D&O, and cyber insurance together. Ask us how to structure the three. Learn more about cyber insurance →
At DigiCare, we bundle these covers for up to 25 percent less than buying them separately. Most professional firms we work with carry at least two.
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 compare licensed Cyprus insurers
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.
This process works for self-employed consultants and expat professionals as well as regulated practices.
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Frequently asked questions
Protect your practice. Get covered today.
A single negligence claim can run past your whole year's revenue, and the legal defence alone costs thousands even when you've done nothing wrong. Sort the cover out before a claim arrives, not after.