DESCRIPTION

Under the Immovable Property Law a building under Joint ownership is one consisting of at least five units.

Every jointly-owned building is registered as such with the Land Registry. Buildings with fewer than 5 units may also be considered as jointly-owned under certain conditions.

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COVERAGE

A jointly-owned building consists of two parts firstly, there are the individual units (apartments, houses, etc.); secondly there is the rest of the property which generally includes common-areas (corridors, garden, yard, pool), staircases, roof, foundations, electrical installation, plumbing system, engine room and some common and main walls.

For your information, every jointly-owned building must have a Management Committee.

The committee has legal standing and may sue (and may be sued) in relation to any matter concerning the property. For this reason, it is important that the Management Committee is covered for both Public and Personal Liability. For example, if a claim is made against it in a ‘civil wrong’ suit, the owners may face the bill for damages; if a claim is made against an individual member due to lack of care, for instance, the individual member may personally face a claim for damages. The committee has an obligation under the law to insure and always keep insured the entire jointly-owned building (not just the common areas) against fire, lightning and earthquake with a licensed insurance company and to pay the premium.

DESCRIPTION

The Professional Indemnity Insurance policy safe guards the professionals in their trade against a financial loss which could occur as a result of its legal liability to third parties for professional misconduct as a result of negligence, error or omission.

Obliged by Cypriot Law for:

• Lawyers
• Insurance Agents
• Estate Agents

Also available for:

• Architects & Consulting Engineers
• Surveyors
• Certified Auditors & Accountants
• Miscellaneous Directors
• Doctors

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COVERAGE

Obliged by Cypriot Law for:

• Lawyers
• Insurance Agents
• Estate Agents

Also available for:

• Architects & Consulting Engineers
• Surveyors
• Certified Auditors & Accountants
• Miscellaneous Directors
• Doctors

DESCRIPTION

According to the Labour Laws of the Republic of Cyprus, it is stated that all employers who have operations in the Republic of Cyprus are obliged (as at 01/11/1997) to have Insurance cover in place with an authorized and licensed Insurance company against their liability in the event of an accident or occupational sickness encountered by any of their employees that may have been caused from and during their time of employment at their employer.

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COVERAGE

The minimum limits of indemnity that are required under the law are as follows:

• Limit for each and every employee €160.000
• Limit per event or series of events €3.415.000
• Aggregate limit during any one period of insurance €5.125.000

The above limits of indemnity may not be sufficient given the ever increasing demands and compensations that are currently being awarded, hence we offer the facility to increase the limits of indemnity subject to underwriting of the risk and offering such increased limits in order to satisfy the employer.

DESCRIPTION

All foreigners, either non-EU citizens or international, who are employees, visitors or students are obliged by the law to have Health Insurance in order to register with the Immigration Authorities in Cyprus.

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COVERAGE

This insurance policy is aimed to cover housemaids (domestic helpers), visitors, farmers or any other occupation. In addition, all University and College students. Cover includes expenses for medical visits & medication, in-patient and out-patient treatment, daily hospital accommodation & childbirth. It also covers expenses to repatriate the corpse of the insured back to their own country.

DESCRIPTION

Our Personal Accident cover offers protection to each and every one of us in the event of a loss that may arise from an accident that could occur either at the workplace or at home or elsewhere, even whilst abroad.

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COVERAGE

In case of an accident we will pay out compensation as preselected by the insured to suit budget and needs for the following:

• Death
• Permanent Total Disability
• Temporary Total Disability to work up to a period of two years
• Cover medical expenses either at a private clinic or hospital

The following may be insured:

• Persons between the ages of 16-65 who may or may not be working
• Legal residents of the Republic of Cyprus
• Employees who required Personal Accident for their employees or their executives under a group personal accident policy

DESCRIPTION

Lifetime protection for your family. Because the unexpected is part of life, protect your family with a term insurance plan. For a minimal monthly premium you can rest assured that your loved ones will receive a financial benefit in the event of death.

On the other hand an investment plan can be tailored to your budget and help save for the future.

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COVERAGE

Term Insurance offers you:

• High Insurance cover for loss of life from any cause, at low cost
• Tax exemption on your premiums
• The opportunity to add more benefits in order to cover all your insurance needs

Extra benefits:

• Dread diseases
• Accidental death
• Permanent total disablement
• Accidental death or permanent total disability from accident
• Disability income
• Waiver of premium

DESCRIPTION

We offer Yacht Insurance cover providing assurance to yacht owners according to the London Institute Yacht Clauses (1.11.85) from the following perils:

• Damage of loss caused from natural hazards to the vessel, the deck, engine and equipment, as a consequence from an insured peril whilst being in commission at sea or inland waters within the limits of navigation or whilst being laid up out of commissioning including lifting or hauling the boat.
• A summary of the risks covered are fire, piracy, collision, explosion, malicious acts, theft, earthquake, lightning.

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COVERAGE

Furthermore, we offer cover for the legal liability of the yacht owner for compensation to third parties that may have experienced material damage or injury in relation to their yacht including:

• Cost of rescue
• Legal costs
• Hauling, removal or destruction of the wreck

DESCRIPTION

In our company we have prepared an innovative solution catering for the needs of your home.

You can count on protection for your home whether as a home owner or as a tenant.

We can arrange alternative accommodation in times of need until all repairs are completed to your home.

Our Home Shield home Insurance policy features a competitive advantage in that you have the option to tailor the insurance solution to suit your budget and needs.

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COVERAGE

Home Shield has the following features:

• Fire
• Bush fire
• Lightning
• Explosion
• Smoke
• Earthquake
• Storm
• Tempest
• Flooding
• Impact
• Bursting of pipes
• Aircraft
• Strike
• Riot or Civil commotion
• Malicious damage
• Overflowing of water or oil tank
• Falling of trees
• Burglary through intrusion

Without any additional premium, as long as the buildings are included under the policy, the following expenses are covered arising out of:

• Accidental damage to underground services
• Accidental damage to glass
• Architects and engineer fees
• Removal of debris
• Relocation expenses
• Loss of rent
• Detections and access
• Homeowners Public Liability

When contents Insurance is also included under the policy, damage caused to the following is also covered:

• Equipment and machinery situated outdoors
• Outbuildings contents
• Items belonging to visitors
• In temporary transit
• Loss of water or fuels
• Replacement of locks
• Gardens and pathways
• Freezer contents
• Accidental death inside the home
• Public Liability (owner’s) towards third parties

DESCRIPTION

The motor vehicle is now a part of every one’s life and is in fact both a necessary and important asset.

With the ever increasing risks around us, it is important to have in place assurance for the driver, his family and any other passenger.

Every responsible driver needs a trustworthy insurance company that will stand by his side in whatever situation might arise.

Every vehicle which is insured by our company enjoys 24/7 Accident Recovery helpline as well as 24/7 Road Assistance.

Options to choose from:

• Third Party Standard (by law)
• Fully comprehensive

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Coverage Third Party

• Third party liability
• Road & accident assistance
• Driving beyond the road
• Personal accident €5.000
• Driving other vehicles of the same type & characteristics
• Any driver 23-70 with 2 years normal driving license
• Passengers liability
• Windscreen cover up to €500
• Towing a trailer

Coverage Fully Comprehensive

• Third party liability
• Road & accident assistance
• Driving beyond the road
• Driving other vehicles of the same type & characteristics
• Any driver 23-70 with 2 years normal driving license
• Passengers liability
• Towing a trailer
• Strikes, riots, civil commotion
• Natural hazards
• Personal effects up to €150
• Replacement of vehicle (valid for vehicles up to 1 year old)
• Personal accident €10.000
• Claim protection
• Windscreen up to €850