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Protection for the self-employed and freelancersProfessional liability insurance

Self-employed persons and freelancers bear a high risk of being held liable towards third parties in the event of damage caused professionally. Even small mistakes can lead to considerable claims for compensation – with potentially existential consequences. Professional indemnity insurance protects against the financial consequences of such claims and provides reliable cover for professional activities.

For certain professional groups – such as doctors, architects and engineers – professional indemnity insurance is required by law. However, it is also strongly recommended for other freelance professions in order to protect personal and company assets.

Professional liability or public liability?

The difference simply explained:

While public liability insurance is aimed at companies and their employees, professional liability insurance specifically protects freelancers, the self-employed and their employees within the scope of their professional activities.

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Insured risks & hazards

Depending on the activity, professional liability insurance covers personal injury, property damage and financial losses that may arise as a result of professional errors. This includes in particular:

  1. Treatment errors
    Damage caused by errors or negligence in the exercise of the profession, for example in the medical or therapeutic field.
  2. Planning and monitoring errors
    Liability for damages as a result of defective or faulty planning, monitoring or testing services – for example in the case of architects, engineers or experts.
  3. Consultancy errors
    Claims arising from incomplete, incorrect or misleading advice – e.g. from lawyers, tax advisors or coaches.
Possible scope of cover & extensions

The scope of cover can be extended individually and can include the following services:

  1. Errors or negligence in the exercise of the profession
    Protection in the event of professional misconduct with financial consequences for third parties.
  2. Consultancy errors
    Protection against liability claims in the event of a lack of or
  3. a breach of confidentiality
    Cover for damage caused by unauthorised disclosure or publication of confidential information.
  4. Unauthorised acts
    Insurance cover for claims arising from unlawful or unauthorised acts during the exercise of the profession.
  5. Liability for employees
    Co-insurance of damage caused by the professional actions of your employees.
  6. Personal injury
    Cover for costs resulting from personal injury – e.g. medical treatment costs, compensation for pain and suffering or rehabilitation measures.
  7. Material damage
    Assumption of costs of repair or replacement of damaged third-party property.
  8. Consequential financial losses
    Cover for financial losses incurred as a result of personal injury or property damage – such as loss of earnings or loss of use.
Insured persons

The insured persons are the policyholder and all employees in the course of their professional activities.

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