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Property Insurance

ATLANTIC’s Supreme Business Plan is one of the most comprehensive options available today in the Cypriot market. It is a flexible policy with broad coverage that can be tailored to your needs and is offered at affordable prices. It ensures continuity of your business, compensating you for property damages as a result of an insured peril or for loss of income in case your business operations are interrupted.

For those clients seeking a basic cover at lower prices, our standard Fire & Special Perils policy is the ideal solution, covering you against a multitude of perils.

Who is this for:

  • Factories
  • Hotels
  • Restaurants
  • Offices
  • Shops
  • Retail and wholesale stores
  • Other businesses / organizations

Get a Quote

Proposal Form

Claim Form

Supreme Leaflet


What we cover

Insurance Scheme 1:

  • A. Supreme Business1.   Fire and Smoke
    2.   Lightning
    3.   Earthquake
    4.   Storm/Tempest
    5.   Flood
    6.   Impact
    7.   Explosion
    8.   Falling of or impact by aircraft or other aerial devices
    9.   Strikes, Riots, Civil Commotions, Political or Labour Disturbances
    10. Malicious Acts
    11. Leakage or escape of water or oil
    12. Theft
    13. Falling trees

    Β. Additional covers included:

    14. Irregular water meter charges - up to €1.000
    15. Underground services - up to €5.000
    16. Temporary guarding services - up to €2.000
    17. Replacement of firefighting equipment - up to €5.000
    18. Substitution of keys and locks - up to €1.000
    19. Professional fees and Debris removal - up to 10% of the Total Sum Insured with maximum €50.000
    20. Claims by Public Authorities - up to 10% of the insured value of the building with maximum €50.000
    21. Your liability as a tenant - up to €5.000
    22. Dishonesty of your employees - up to €5.000 for each employee with maximum €20.000 for each period of insurance
    23. Payment or loss of rent - for a period up to 3 months with maximum amount €15.000
    24. Public and Products liability - Up to the limit specified
  • B. Optional Covers Upon payment of an additional premium you may add any or all of the following covers:

    1.  Glass breakage
    2.  Goods in transit
    3.  Deterioration of stock
    4.  Money
    5.  All risks
    6.  Short circuit
    7.  Business interruption

Insurance Scheme 2:

  • A. Fire and Special Perils1.   Fire or Lightning (Basic cover)

    You may select any or all of the following perils according to your needs:

    2.   Explosion
    3.   Aircraft
    4.   Riots, Strikes, Lock-outs 
    5.   Malicious damage
    6.   Earthquake or Volcanic Eruption
    7.   Hurricane, Typhoon, Tornado, Cyclone, Storm or Tempest and Flood
    8.   Escape of water from any watertank, apparatus or pipes caused by bursting or overflowing
          of such installations
    9.   Impact by any road vehicle or animal
    10. Burglary


Important Note: The above constitutes a summary of the product features. Full details as to policy covers, conditions and exclusions are contained in Atlantic’s relevant Insurance Policy document.

Competitive Benefits

  • Prompt and fair claims settlement
  • Comprehensive cover 
  • Competitive prices
  • Unlimited unoccupancy period (optional)
  • Minimum cover required for loan purposes offered at lower prices
  • Compensation at reinstatement value (New for Old - optional)
  • Highly personalised service from our experienced personnel in all towns

Atlantic is reinsured with Swiss Re and other A rated reinsurers!

Frequently Asked Questions

  • Q1. How is insurance coverage affected if the business premises remain unoccupied? A1. If the building in which you operate your business is not in active use or remains shut without the presence of any persons for more than 30 consecutive days, no coverage will be provided for the risks Storm/Tempest, Flood, Malicious acts, Leakage or escape of water or oil and Theft. Of course, this issue is resolved by opting for extended unoccupancy period. 
  • Q2. What is the meaning of reinstatement and actual value? A2. 
    Reinstatement Value:
    -For the building or its improvements, it shall mean the cost of reconstructing them in the same way, size, specifications and appearance as if they were new.
    -For the machinery and tools or furniture and equipment, it shall mean the cost of replacing them with new items of the same or similar kind or specifications.
    Actual Value:
    -For the building or its improvements, it shall mean the cost of reconstructing them in the same way, size, specifications and appearance after deducting depreciation due to obsolescence, wear and tear or use.
    -For the stocks and raw materials, furniture and equipment or machinery and tools, it shall mean the value of replacing them with new of the same or similar kind or specifications after deducting depreciation due to obsolescence, wear and tear or use or technological or commercial or any other obsolescence.
  • Q3. What is the impact on my claim if I underinsure my property? A3. The sum insured for each category (building, machinery, stock, etc) is subject to the condition of average. For example, if the value of stock is €200.000 and the sum insured is €120.000, you will be compensated with only 60% of the loss.
  • Q4. What shall I do in case of loss or damage to my property? A4. In case of loss or damage to your property, you should take all reasonable steps to minimize the damage/loss. The soonest possible you should contact our claims department for the processing of your claim. You must not proceed with the repair of any damage without notifying us. In case of theft, robbery, malicious acts, fraud, dishonesty of employees or serious injury you should call the Police immediately.
  • Q5. Under my Supreme policy, can I insure my financial loss in case of business interruption? A5. Yes, you can insure your financial loss in case the insured property suffers damage by any of the insured perils 1-12. Indemnity is provided in relation to gross profit, payroll expenses and profesional accountant fees and shall be for a maximum period of 12 months unless you choose a lesser period.

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