Professional Liability Insurance
Informatiedocument over het verzekeringsproduct
- Onderneming:
- Allianz Nederland Schadeverzekering, schadeverzekeraar, vergunning: 12042158 (NL)
- Product:
- ING Professional Liability Insurance
This insurance card only provides a summary of the insurance. The insurance Terms & Conditions specify in full the scope of cover and exclusions on cover.
This insurance protects your company against claims for damages in the case that your company is held legally liable for financial loss suffered by third parties (including your contractees) that is caused by a professional error of your company, your employees or you.
Legal liability for damage of a client that arises if the insured commits a professional error.
Covered are the costs of legal assistance, criminal and/or disciplinary proceedings, but only if we have an interest in conducting the defence in those proceedings.
These costs are only paid if the damage is covered and if we have given our consent to incur the costs.
Your company and other (legal) persons stated on the policy schedule as insured, and the employees (also temporary workers, trainees or volunteers) and partnership members of the insured.
Does someone hold the insured liable after the effective date of the insurance for a professional error made before the effective date? Then this can be insured separately under this insurance.
The insurance can upon request be extended with a cover for general liability. With this insurance you are covered if someone holds you liable for damage to property and personal injury.
Under the professional liability insurance personal injury and property damage is standard not covered.
Damage due to exceeding of costs as a result of erroneous budgets, planning and/or estimates is not covered.
Damage caused intentionally by the insured or that is a result of a by the insured (suspected) committed property offence and/or fraudulent act.
The legal liability of directors and officers is not covered. You can insure this under a separate directors and officers liability insurance.
Damage and costs that are incurred to re-perform the work are not covered.
This insurance is not valid in the United States of America and/or Canada.
Not covered are claims related to promising or guaranteeing results, profitability, production capacity, return or yield expectations or the giving of investment advice.
Under the professional liability insurance only financial loss is covered. This in contrast to a general liability insurance, under which primarily personal injury and property damage is covered.
Every time you incur a claim, you must pay part of the damage yourself. You pay the amount that is stated on the policy certificate under ‘excess’.
If someone holds the insured legally liable after the termination of this insurance for an act or omission before the termination of the insurance, then that is not covered. You can extend the reporting period if we terminate your insurance or if your company is discontinued.
In the case of discontinuation of your company or in the case that termination of the insurance by us, you can – in specific cases – separately take out runoff cover. (only for attorneys and accountants runoff cover is standard included)
These are the major cases in which we do not pay. Do you want to know more? Please then read the insurance terms and conditions.
This insurance in general is valid in the European Union, EER, the United Kingdom and Switzerland, but this can be different in specific cases. You can find this on the policy certificate.
If you apply for the insurance or in the case of a claim, you must honestly respond to our questions. You must do your utmost to avoid and limit the damage. Notify a claim as soon as possible and notify changes in your situation as soon as possible.
You can choose to either pay the premium in instalments or once per year. You can pay by direct debit. Or you transfer the amount yourself.
The insurance starts on the effective date stated on the policy schedule. Do you not pay the premium in time? Then we can stop the cover and insurance.
You can terminate the insurance as per the end date stated on the policy schedule. You must give us notice of termination at least 2 months before the end date. Have we already extended the insurance once? Then you can terminate the insurance at any time without notice period. You can terminate the insurance in the ING Bankieren App or please call to 010 899 8088 and we will fix it.