Lawyers' Professional Liability Insurance
Lawyers' Professional Liability Insurance is a very important and specialized insurance policy that provides protection to professional Lawyers, in case they shall be legally liable to pay indemnity to their clients as a result of negligence or omission during the performance of their professional activity provided and which resulted to a financial loss of their customers.
Why is Lawyers' Insurance mandatory in Cyprus?
Professional indemnity insurance for Lawyers is mandatory to protect clients and ensure the integrity of the legal profession.
According to The Lawyers’ Law (130 (I) of 2009 – The Lawyers’ Law (Amendment) (No. 2) Law of 2009, as from 1st January 2010, no license to practice law will be either issued or renewed, unless the lawyer has a valid insurance coverage provided by a licensed insurer, against professional liability negligence.
Basic Professional Liability Insurance Covers for Lawyers
| Compulsory Law Limits: |
| Our Insurance Policy provides insurance coverage for the minimum amounts required by the Pancyprian Law Association, as follows: |
| For each claim: € 170,860 |
| For any insurance period: € 341,720 |
| Additional limit: Defense Costs: € 25,630 |
| Additional Covers: |
| The Minimum Limits can be increased above the minimum amounts required by law, according to clients’ needs and can also offer extension of cover with an additional premium for: |
| • Document Loss |
| • Defamation and Libel |
* For more information, exceptions and offer, contact us or our insurance agents
Frequently Asked Questions
Professional Liability Insurance for Lawyers covers financial losses resulting from errors, omissions, or professional negligence committed while providing legal services.
Yes. According to the laws of the Republic of Cyprus, Professional Liability Insurance is compulsory for all practicing lawyers in Cyprus and is reported to the Cyprus Bar Association.
Yes, Professional Liability Insurance for Lawyers covers claims brought by clients alleging financial losses due to errors or omissions in the provision of legal services.
You can obtain an immediate quotation from Minerva Insurance by: Completing the contact form on our website, calling us at 77771414, or visiting our offices for personal assistance.
This website is designed to provide you with data which offers an indication of our product and services. We have made every effort to ensure that those are in accordance with the products and services currently on offer to our customers. Those data may be changed without notice and we do not take any responsibilities or provide any warranties with regard to the availability of the products or services, the price that appears or the content of insurance plan you chose. To receive the latest and conclusive pricing and specification information, please visit one of our offices or contact our insurance agents.