Faulty or non-functioning medical equipment, devices and instruments can cause a lot of suffering. Hospitals, practicioners, suppliers and manufacturers can be held liable for this.

Blue Risk's specialists look at what specific risks you face from your specific profession or business, and put together a tailor-made insurance policy to best protect you against these types of claims.

What is insured?

Losses suffered by third parties arising from breach of contract, incorrect or negligent service provision.
Depending on the insurer: cyber risks. Liability for damages suffered by third parties as a result of a cyber attack
Depending on the insurer: third-party costs for reporting personal data loss or cyber extorsion.
Usually, Corporate Liability Insurance (employer's liability, property damage and third-party injury can be co-insured. This is usually cheaper than insuring it seperately.
Coverage is worldwide, excluding US and Canada. US and Canada can be co-insured for certain companies.

What is not insured?

Already know circumstances of loss before policy commencement
Environmental Pollution and Directors’ Liability
Fraud and intent
Penalty clause, indemnity clause, guarantee clause, warranty clause or similar clause, except where the liability would have existed even without such clause
Infringement of intellectual and industrial property rights, such as copyright and patent rights as well as unfair competition (Blue Risk does have specific policies for intellectual and industrial property rights!)

For whom?

Manufacturers, suppliers and users of medical instruments such as hospitals or clinics, who may be held liable for the consequences of non-functioning or defective functioning of medical instruments and devices.

Premium Indication

Premiums starting at €750, not including 21% insurance Tax. We can send you a quote within 1 business day, comparing 6 insurers who are specialised in your industry.

FAQ's

Is professional liability insurance required?

Professional Liability Insurance is not mandatory for ICT companies. Nevertheless, many situations are conceivable for which it is useful or necessary to take out such insurance. After all, anyone can make mistakes and the damage can be tremendous. A customer, client or industry organisation may also require or demand it of you.

What is the difference between Corporate and Professional Liability

With the Corporate Liability Insurance, only damage to persons or property is insured, but not pure capital loss. Capital loss is financial damage caused by professional errors such as incorrect advice. With a Professional Liability Insurance, you are insured for this risk.

Can i deviate from my Terms and Conditions?

You are not obligated to adhere to specific contract terms. Deviating from these or accepting clients' terms is not a problem. You do not have to submit this to us for approval. However, we do advise you to declare general terms and conditions wherever possible, as it limits your liability towards third parties.

What does "insured capacity" mean?

The insured capacity indicates what kind of activities you perform. The insurer estimtes the risk based on this capacity and could exclude activities in the event of a claim if they were not aware of this. It is very important taht the insured capacity is defined in such a way that it covers all activites. Make the description as broad as possible and check this capacity yearly.

Does the insurance provide cover in the US and Canada?

No. Claims filed in the United States and/or Canada (or based on the law of these countries) are excluded. Insurers do not provide this coverage as standard because the damge amounts and legal assistance where are much higher than here. In some cases, we have coverage for this exclusion and can provide coverage for this jurisdiction as well.

What does Prior Act Coverage and Extende Reporting Period mean?

Prior Acts Coverage

This is damage whose cause predates the commencement of the insurance, but is discovered during the policy period. This is so-called inherent risk is not covered by default, but can sometimes be purchased for an additional period. This allows you to insure yourself against damages that are not yet know, but could potentially arise.

Extended Reporting Period (ERP)

The opposite of Prior Acts Coverage. Damage that manifests after the insured period has expired, but whose cause falls withing that period. Again, you can insure against this ERP cover for a number of years. This is oftend offered by insurers after termination.

My company is being liable. What now?

As soon as you are found liable, you should report it to us. We advise you not to admit liability immediately, but to submit it to the insurer first.

Does Blue Risk advise on other insurances?

Absolutely. We are specialists in complex risks, but are happy to help you protect against some of the more mundane business risks. Think of corporate insurance for buildings, inventory, transport, business damage, accidents, corporate travel and employee insurance.

We don't advise on pension and other life insurances.

Does the policy also cover liability for third-party products and services, such as suppliers?

There are insurers who cover this, but certainly not all of them. Make sure you look at the differences carefully.

Does the policy cover breach of warranties?

There are insurers who cover this, but certainly not all of them. Make sure you look at the differences carefully.

Is loss of customer data and software covered?

There are insurers who cover this, but certainlu not all of them/ Make sure you look at the differences carefully.

Is liability damage covered as well as the damage suffered by your company itself?

Yes, this is covered.

Are you covered if your risk increases due to the change in business activities?

There are insurers who cover this, but certainly not all of them. Make sure you look at the difference carefully.

Are third-party cyber extortions and its costs covered?

There are insurers who cover this, but certainly not all of them. Make sure you look at the differences carefully.