Professional civil liability
Key characteristics
- Insurance of specialised services
- Complex product with multiple options
- Expert consultancy
This professional civil liability insurance aims at compensating the damages caused mainly by the negligence in the exercise of the profession, by the practitioners of some professions that offer consultancy or provide a specialized service.
Who needs malpractice insurance?
Among them we list: builders, architects, notaries, lawyers, doctors, pharmacists, accountants, teachers, brokers, interpreters and translators, operators and agents authorized to register warranty notices in the Electronic Archive of Real Movable Guarantees.
They may, through error, negligence, omission, or any fault of their own cause harm, either to customers or to third parties.
The following risks are covered by this professional liability insurance:
- amounts that the insured is obliged to pay to third parties as a result of personal injury or damage caused to property
- moral damages of the damaged person
- the costs of the insured if he was obliged to pay compensation
- court costs of the injured third party, if the Insured was obliged by law to pay damages
- damage caused by loss, destruction or damage to documents, burglary.
- any loss caused by error, mistake, negligence or omission of a partner or employee of the insured in direct connection with the activity of accounting expertise
The following risks are covered by this professional liability insurance:
- amounts that the insured is obliged to pay to third parties as a result of personal injury or damage caused to property
- moral damages of the damaged person
- the costs of the insured if he was obliged to pay compensation
- court costs of the injured third party, if the Insured was obliged by law to pay damages
- damage caused by loss, destruction or damage to documents, burglary.
- any loss caused by error, mistake, negligence or omission of a partner or employee of the insured in direct connection with the activity of accounting expertise
Exceptions and cases for which the insurer is not responsible
- the activities of the insured outside a contract concluded with his client
- damages intentionally caused by the insured
- claims for war damage in any form, rebellion, confiscation, seizure, destruction or damage by order of a government or public authority
- direct or indirect legal civil liability caused by radiation, nuclear contamination, pollution and others as the case may be
- the consequences of some circumstances that lead to a claim as a result of an activity carried out before the beginning of the validity of the current insurance
Under what conditions is the compensation granted?
The indemnity is made on the basis of the insurance contract and within the limit of the insured amount. In order for the insured to be compensated, it is necessary the existence of a prejudice caused to a third person, through negligence, recklessness or professional incompetence. Also, the damage must be personal, direct and certain.
For a better understanding of this type of insurance or to take out professional civil liability insurance, we invite you to schedule an appointment with a Destine Broker consultant, here.
Under what conditions is the compensation granted?
The indemnity is made on the basis of the insurance contract and within the limit of the insured amount. In order for the insured to be compensated, it is necessary the existence of a prejudice caused to a third person, through negligence, recklessness or professional incompetence. Also, the damage must be personal, direct and certain.
What are the obligations of the insured?
- The insured undertakes to pay the professional civil liability insurance premium in time
- The insurer must be notified on the date of the insured event
- The insured not to make payment or settlement decisions with the injured person without the consent of the insurance company
- Not to practice the professional activity during the suspension of the free practice authorization.
