Professional Liability Insurance
The right choice for every modern professional.
Because no one can claim to be infallible or immune from any random event, Liability unfortunately always exists and weighs on every professional who provides services.
A wrong moment, a wrong decision, or an omission on your part as a professional can harm third parties and leave you facing large damages and years of litigation. Special professionals such as doctors, accountants, lawyers, advertisers, etc. have an increased chance of facing such claims.
All freelancers, and even more so all businesses, in the context of their operation, have important obligations and assume specific responsibilities towards employees, customers, suppliers, shareholders, and even the environment. They must (whether by Law or not) cover these responsibilities with appropriate insurance policies, such as professional liability insurance.
At AIC Insurances we offer Professional Indemnity Insurance Policies, which provide a net of protection to the insured professional for liability arising from acts or omissions related to the nature of their work.
What does Professional Liability Insurance Protect us from?
Professional Liability Insurance protects the insured against Breach of Duty – any actual or alleged negligent breach of duty, negligent act, negligent error, negligent omission, misrepresentation, misrepresentation, breach of warranty or authorization made in good faith, or breach of confidentiality that occurs against the performance or failure to perform Professional Services.
Indicative examples:
Doctors
Causing bodily harm or loss of life to patients in the course of their professional activity
Engineers
Claims for material damage, harm, or financial losses to third parties arising from the study of a project or supervision, etc.
Accountants
Omissions or errors in the provision of accounting-tax services
Lawyers
Omissions in legal procedures, mistakes, statutes of limitations, commercial law, etc.
Frequently Asked Questions (FAQ)
Ans. Professional Liability Insurance is mandatory for the following professions:
⦁ Lawyers
⦁ Doctors
⦁ Accountants
⦁ Architects and Civil Engineers
⦁ Insurance Intermediaries
⦁ Real estate agents
⦁ Health Service Providers (HSPs)
Yes, provided the event giving rise to the claim occurred after the retroactive date. A retrospective date is the date from which you held continuous Professional Liability insurance cover (even if you changed insurers during that period) or a date in the past from which your insurer has agreed to cover you. Any claims arising from events before this date are not covered by your insurance.
Yes, the insurance policies we offer meet the minimum legal requirements. Higher coverage limits can be offered on request.
Yes, the insurance policies offered by us meet the requirements of ETEK. Higher coverage limits can be offered on request.
Yes, the insurance policies we offer meet the minimum legal requirements. Higher coverage limits can be offered on request.
