Employer’s Liability Insurance

Royal Crown Insurance, a company with an established presence and long-term experience in the insurance world, and with a main goal to protect and cover its clients with its progressive insurance policies, presents the Employer’s Liability Insurance Policy. The Employer’s Liability Insurance Policy is of interest to all employers and concerns any person employing labour or domestic servants. 

It is generally acceptable that the human capital of any company is the reflection of the company’s image outwards. A smiling, helpful staff reflects a picture of health and safety in the working environment and expresses the good relationship between the employee and the employer. Royal Crown Insurance’s Employer’s Liability Policy is indispensable, because, by taking all preventive measures, you can create a safe and healthy environment for your employees, which will lead to increase in your business!!

Look into our Employer’s Liability Insurance Policy before recruiting

Royal Crown Insurance’s Employer’s Liability Policy can be adapted and adjust to the financial priorities and needs of every employer who desires absolute safety for his staff.

The Employer’s Liability Insurance Policy is compulsory by Law – The Employer’s Liability Law, which caters for Health and Safety in the Working Place. This Law creates an obligation to the employer – to protect and ensure all employees’ health, safety and well-being, and also the safety of any third party that may be affected by the employer’s activities. All employers are legally obliged to take out and maintain in force an insurance policy covering their legal liability for any injury, accident or occupational disease, which employees may suffer during their employment. Accident means bodily injury or death, and for his legal liability to arise, the employer should be considered guilty of negligence or in breach of statutory duty. As provided for by the law, this cover extends to Cypriot employees abroad, assuming they are permanently resident in Cyprus.

The minimum sums insured for the employer’s liability towards his employees are:

For any one employee
Euro 160.000
For any one event or series of events
Euro 3.415.000
Aggregate Sum Insured for any period of insurance
Euro 5.125.000

The employer may insure for more than the compulsory sums, by remitting the proportional extra rate of premium.

According to the provisions of the statute, employers should keep records of the exact number of their employees, their exact duties and annual income of each employee. Annual income includes salaries as well as other benefits employees have. Within a month from the end of each insurance period, the employer should provide to the insurance company a statement of each employee’s real income for the period, so that the proper adjustment is made to the premium, if applicable.

Note also that according to the law the insurance policy is not valid, unless the Certificate of Insurance is issued and delivered to the insured employer. Whoever does not have the certificate in their possession is considered uninsured and liable to criminal prosecution.

Make sure you have the proper insurance cover and adapt it to your needs!