Professional Indemnity Insurance

The purpose of professional indemnity insurance is to provide insurance coverage for any damage caused by errors and mistakes in the performance of the insured profession to a third party. For many professions, taking out professional indemnity insurance is required by law.

Professional indemnity insurance covers the following:

  • any financial damage caused to the client of the insured by a misconduct in performing the insured profession
  • for selected professions, the coverage is extended to include damage to property or health, provided that this results from a breach of duty.
  • costs of legal defense of the insured in connection with the claim for damages brought against him resulting from the breach of obligations in the exercise of the insured profession
  • damage to documents taken over by the insured from the client for the purpose of performing the insured profession

Insured professions

Professional indemnity insurance can be arranged for the following professions:

  • auditors
  • tax advisors
  • accountants
  • real estate agencies
  • attorneys-at-law
  • bankruptcy trustees
  • notaries
  • auctioneers
  • financial intermediaries, financial advisers
  • experts, interpreters, translators
  • authorized engineers, authorized architects
  • construction managers, construction supervisors
  • companies providing IT services
  • any other professions based on individual request

Documents to download

More information about Professional liability insurance