Professional Indemnity Insurance
-
1. Product Overview
It is an insurance policy that compensates for legal damages to a 3rd party caused by a breach of the obligation of the insured in connection with the professional work.
What is a breach of duty?
Negligence, carelessness, mistakes, omissions, etc. that occurred during the professional work, etc.
Professional work examples - Design/presiding, IT specialists, real estate management, media, various outsourcing, educational institutions, Asset Management, etc.
-
2. Company Who needs this policyPast, present and future employees of the insured company, and the insured company itself.
-
3. The main covered Risk
Liability for damages to 3rd parties of the insured company arising from the violation of the duties of the employees of the insured company during the professional work described in the securities
Liability for damages to 3rd parties of the insured company arising from the violation of the duties of the professional work described in the securities by the subcontractor of the insured company
Liability for damages caused by defamation and infringement of intellectual property rights incurred during the professional work described in the insurance policy (when additional of Special Clause)
-
4. Major compensated damages
Compensation for damages, arbitration, conciliation or conciliation under the law
Legal Expenses: Litigation fees, attorneys' fees, consultation fees, etc.
-
5. Main Exclusion
Cheating, fraud, malicious, and criminal activity
violates an employee's obligations to the employee from or in the course of the employee's employment;
Contractually weighted liability
Natural disasters
Contamination, radioactivity, asbestos-related damages
War and Terrorism