People can make mistakes in their work that have financial consequences for others. Rightly or wrongly, every claim needs attention. Because there is often more at stake than just money. Your reputation and commercial interest, for example.

Blue Risk's professionals provide quick insight into your biggest risks and how to insure them. In doing so, we look in detail at all the options available from top insurers. Policy coverage includes pure property damage, legal assistance and litigation costs, plus personal and property damage from third parties.

Beroepsaansprakelijkheid intro small (1)

What is insured?

Damage caused by third parties arising from non-compliance with a contract, incorrect or negligent service provision.
Depending on the insurance company: cyber risks. Liability for damage 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 extortion.
Legal assistance.
Usually, business liability insurance (employer's liability, material damage, and injury to third parties) can be included. This is often more cost-effective than insuring separately.
Coverage is worldwide, excluding the US and Canada. For certain companies, the US and Canada can be included in the coverage.

What is not insured?

Already known circumstances of damage before policy commencement
Environmental pollution
Directors’ liability
Fraud and wilful misconduct- penalty clause, indemnity clause, guarantee clause, warrenty clause or similar clause, except if the liability would have existed even without this 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?

Consulting professions such as consultants and advisors. Lawyers, accountants, notaries, engineers, as well as consulting professionals in tax, legal administration, communication, marketing, organisation, HRM, coaching, mediation, etcetera

Premium indication

Premiums from € 750.00 excluding 21% insurance Tax. We can send a quote within 1 day, comparing 6 specialised insurers.

FAQ

Is a Professional Liability Insurance mandatory?

Professional liability insurance is not legally required for ICT companies. However, there are many situations where it is useful or necessary to take out such insurance. After all, everyone can make mistakes and the damage can be significant. A customer, client, or industry organisation may also require or demand it from you.

What is the difference between Professional Liability and Corporate 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' delivery terms is not a problem. You do not have to submit this to us for approval. However, we do advise you to declare the general terms and conditions wherever possible, as it limits your liability towards third parties.

What does the "insured capacity" mean?

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

Does this 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 damage amounts and legal assistance there 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 Acts Coverage and Extended Reporting Period mean?

Prior Acts Coverage

This is damage whose cause predates the start of the insurance, but is discovered during the policy period. This so-called retroactive cover 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 known, 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 within that period. Again, you can insure against this ERP cover for a number of years. This is often offered by insurers after termination.

My company is being held 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 corporate 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?