The most significant asset of an company is its people. With Outrisk Insurance, you can get the best possible insurance policy coverage for your work family and yourself!
What is Employer Liability Insurance?
What is Employer Liability Insurance?
Employer liability insurance covers the costs an employer has to pay if a team member claims reimbursement for illness or injury that has been caused because of the job’s nature or while in the workplace.
For instance, an office worker might be injured when they stumble over a cord running across the floor. Or an ex-employee is diagnosed with an illness due to asbestos exposure during their time of employment. Or a builder is electrocuted by a part of faulty energy equipment supplied by their employer.
Read moreEmployer liability insurance covers the costs an employer has to pay if a team member claims reimbursement for illness or injury that has been caused because of the job’s nature or while in the workplace.
For instance, an office worker might be injured when they stumble over a cord running across the floor. Or an ex-employee is diagnosed with an illness due to asbestos exposure during their time of employment. Or a builder is electrocuted by a part of faulty energy equipment supplied by their employer.
In each of these cases, the person affected can file a compensation lawsuit against the employer. Then, the court will decide if the employer has to provide compensation for injury, expenses or other damages. The compensation amount may also involve medical treatment and lost income.
Employer liability insurance can take care of all compensation settlements and the legal costs as much as the policy’s limit.
According to the Cyprus legislation, the limits are:
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Why get Employer Liability Coverage with Outrisk Insurance?
Why get Employer Liability
Coverage with Outrisk Insurance?
At Outrisk, you can tailor an insurance coverage to accommodate your unique needs.
Maximized liability limits and international coverage are just a few of the benefits you can have with Outrisk Insurance!
Our Employer Liability Insurance plans are created to protect employers against any employee claims relevant to injuries, fatality or disease.
Defend yourself, your business and those around you with Outrisk’s first-class liability insurance plans!
At Outrisk, you can tailor an insurance coverage to accommodate your unique needs.
Maximized liability limits and international coverage are just a few of the benefits you can have with Outrisk Insurance!
Our Employer Liability Insurance plans are created to protect employers against any employee claims relevant to injuries, fatality or disease.
Defend yourself, your business and those around you with Outrisk’s first-class liability insurance plans!
All in One
An all-inclusive coverage for your business. It protects your establishment and resources against all risks and threats.
Reliable Insurance Provider
We have been serving Cyprus since 1989. We hold a track record of successful employer liability insurance deals & 100% satisfied customers.
ound-the-Clock Customer Support
Our staff is available 24 hours, 7 days weekly for unfortunate incidents and unexpected events.
Competitive Premiums
You get in-depth coverage with complimentary rewards at the most reasonable prices in Cyprus' insurance market.
Quick claims settlement
We are dedicated to offering the most excellent services for our customers, which means the immediate settlement of claims so you can return back to business.
A highly-experienced team
We offer tips on extra policies that you can add to your coverage plan to level up your employer liability insurance.
Who is this for?
Aimed at professionals and businesses that hire workers. According to the Employer Liability Insurance Act, it is an official requirement for every employer in Cyprus to get Employer Liability Insurance
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Email us info@outrisk.com
Why do I need Employer Liability Insurance?
Why do I need Employer Liability Insurance?
In Cyprus, the Employer Liability Insurance is necessary for all types of companies. It insures the employer against lawsuits by employees for accidents or negligence.
Whether you’re an amateur or a seasoned veteran in your corporate field, you should ensure that your business and you, as an employer, are fully covered no matter what happens. So whether it’s negligent acts or omissions resulting from your professional duties and responsibilities, we’ve got you covered.
Read moreIn Cyprus, the Employer Liability Insurance is necessary for all types of companies. It insures the employer against lawsuits by employees for accidents or negligence.
Whether you’re an amateur or a seasoned veteran in your corporate field, you should ensure that your business and you, as an employer, are fully covered no matter what happens. So whether it’s negligent acts or omissions resulting from your professional duties and responsibilities, we’ve got you covered.
Employer Liability Insurance is forced by law for almost all companies. If any of the below cases applies to your business in Cyprus, you’ll need to get an Employer Liability Insurance:
- You deduct National Insurance payments and Income Tax from the salaries you pay your employees.
- You produce most of the tools and components.
- You manage when, where and how your employees can work.
- You have the right to claim any profit made by your workers.
- You require them to conduct the job you employ them for, and if the team member is incapable of working, they can’t get a substitute.
- You have temporary or part-time staff.
What does Employer Liability Insurance cover?
What does Employer Liability
Insurance cover?
- Coverage of Legal Representatives
- Unsatisfied Judgements
- Payment for Appearance in Court
- Business Transfer
- Employee Protection
- Health & Safety in the Workplace
- Lawyer Defence Fees
- Personal Data Protection
- Coverage of Legal Representatives
- Unsatisfied Judgements
- Payment for Appearance in Court
- Business Transfer
- Employee Protection
- Health & Safety in the Workplace
- Lawyer Defence Fees
- Personal Data Protection
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Frequently asked questions
The exact policy information can range between different insurance providers. Generally speaking, Employer Liability Insurance covers compensation fees if an employee becomes ill or injured due to their job. This might include medical expenses, legal fees, loss of income and more.
Employer Liability Insurance would also cover the following situations:
- Cleaning or maintenance workers get impaired while doing their job, e.g., falling over equipment.
- Clerical staff suffer an injury or disease due to overuse of computers.
- Building workers get hurt by scaffolding.
- A staff member slips on a wet floor and cannot work for a particular amount of time.
You can visit our office in Aglantzia, Nicosia, give us a call at +22 352223, or email us at info@outriskinsurance.cy to get a quote from one of our expert brokers. Then, we’ll go over your insurance policy together.
To make sure you have the precise coverage you need, we will run you through each of the points in your plan. Then, we will ensure that the terms satisfy your insurance needs, budget and business operations.
With Outrisk Insurance, you’ll stay protected against the stress and high costs of any claims made against you!
The three key factors determining the cost are:
- The number of staff employed by the organisation
- The nature of their work (manual, clerical, etc.)
- The employee’s compensation.
Yes. The Employer Liability Insurance Policy is mandatory by Law, The Employer’s Liability Law. This law covers any Health and Safety issues in the Working Place.
More specifically, it makes the employer responsible to protect and guarantee all employees’ safety, health, and well-being. It also covers the employer against third-party claims by people or customers who got injured while in the business.
The big difference between worker compensation and employer liability insurance is that employer Liability offers a much greater compensation and protects against a wider range of claims. Talk to Outrisk Insurance expert team to find out more.
