Insurance is the method whereby the unforeseen and accidental loss to an individual, person or corporate entity, is transferred, in exchange of a monetary contribution – the premium - to a Common Fund, administered by insurance providers, which out of the contribution of the many, can absorb such losses.
One can say that there is an appropriate insurance scheme for every single human activity. Broadly speaking Insurance schemes could be classified into the following categories

Insurances of the Person, such as
  • Life Insurance (or Assurance)
  • Health and Medical Insurances
  • Personal Accident, Sickness and Travel Insurances

Insurances of Property, such as
  • Fire and Theft Insurances
  • Motor Insurance
  • Money Insurance
  • Marine Insurance
  • Aviation Insurance
  • Machinery Insurances
  • Construction Insurances

Insurances of Legal Liabilities, such as
  • Legal Liabilities to Third Parties
  • Professional Liabilities to Third Parties
  • Products Liabilities to Third Parties

Insurances of financial losses, such as
  • Business Interruption Insurances
  • Credit Protection Insurances
  • Legal Costs Protection Insurances
  • Surety and Bond Insurances

The above-mentioned classification is only indicative.
Yes.The Insurance Industry offers financial protection to the public in general. It follows that Governments in every Country as well as the European Union as an entity, issue detailed Regulations and Legislation for the control and supervision of the Insurance Industry. 
In Cyprus it is legally obligatory to take out appropriate insurance with a licensed Insurer for
  • The Users of Motor Vehicles on a Road, against their legal liability to compensate   for personal injuries, death or damage to property of Third Parties
  • The Employers against their legal liability to compensate their employees for personal injuries, death or Industrial Diseases.
  • Estate Agents and
  • Lawyers against their legal liabilities because of Professional Negligence
  • The Administrators of building Blocks with a minimum of 5 Units, for loss or damage by Fire and Earthquake to the commonly owned parts of the structure
  • The Department of Immigration require that any Foreign Worker should have Medical and Hospitalisation Insurance, before issuance of work permits.
The Group, through specialised subsidiary Companies is a licensed Insurance Intermediary, as required by our Insurance Legislation.  These subsidiaries are acting as Insurance Representatives – Coverholders – for Lloyd’s Syndicates and Catlin Insurance Company (U.K.) Ltd.  Our Principals are all ‘A’ Rated – by international rating agencies (such as S&P, Moody’s, A.M. Best).
As Lloyd’s Coverholders we are authorised to issue policies and handle claims in respect of
  • Marine Cargo Insurances
  • Foreign Worker’s Medical Insurances

As Catlin Coverholders we are authorised to issue policies and handle claims in respect of
  • Fire and Perils Insurances for Properties and Business Interruption
  • Personal Accident and Travellers Insurances
  • Motor Insurances, both for Compulsory Third Party and Comprehensive covers
  • Theft Insurances
  • Money Insurances
  • Breakage of Glass Insurances
  • Public / Products Third Party Liability Insurances
  • Employer’s Liability to employees Insurances
  • Fidelity Insurances
  • Engineering and Contractor’s All Risks Insurances
  • Goods in Transit Insurances

Furthermore, the Group’s specialised Subsidiaries place insurance coverages with International Insurance providers whenever a specific requirement is raised
It would be necessary, for the interested person to complete fully a Questionnaire/Proposal form, for the type of insurance required.  This form is available to interested parties by our specialised Subsidiaries.
Both parties to an Insurance Contract, the Policyholder on the one hand and the Insurance provider on the other, have duties and obligations towards each other.

The policyholder is required to
  • Disclose to the Insurer all facts that would influence his judgement as to whether to accept the proposal and as to the premiums and terms of the contract
  • Read the policy contract carefully and to note the terms of cover, the exceptions and policy conditions.  In case of any doubt to seek clarifications from the Insurer
  • Comply fully with all Terms and Conditions of the Insurance contract
  • Payment of premium is a precondition to the inception of cover
  • Notify any changes to the risk insured during the currency of the insurance policy contract
  • Notify promptly the insurer in case of any event that may lead to a claim under the policy of insurance

The Insurer is required to
  • Inform the Proposer/Client fully, of the insurance terms and the premium required to issue the Insurance contract
  • Advise the Policyholder of any special terms or conditions included in the Insurance contract
  • Handle any loss advices fairly and without delay
  • Give to the Policyholder the reasoning for any decision following  a loss


  20 Strovolos Ave. 2011, 
  Nicosia, Cyprus


   +357 22710000

   +357 22514081

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