Commercial insurance is insurance that protects businesses. It covers businesses against losses, arising from things like damage to property such as fire, theft, etc. Accidents or Disasters can arise at any time and usually without warning. When you think of Cyprus, you think of the island as being sunny all year round, great weather, great place to live and of course we all love the fact that crime is very low here. Its true you dont often hear of high crimes either from a commercial perspective or from a residential perspective but sadly the island does get affected by both of these situations. When the winter comes here, it brings torrential rain continually and can cause great damage to properties everywhere be it commercial or residential. How many walls did you see fall down this winter? How many people had floods at their properties? How many people had mud slides creating havoc in their business areas?
Commercial Companies can take out insurance to mitigate the risk of unforeseen damage.
Here are just a few examples of what problems can arise:-