Professional liability insurance (PI)

We indemnify for financial losses unintentionally caused to third parties in the course of professional activities as a result of unintentional professional errors (omissions, negligence) or other events stipulated by the insurance contract
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Professional liability insurance (PI)

An event is recognized as insured if:

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Action or inaction

The professional act or omission in the provision of the service and the claim by the injured third party occurred during the term of the contract (except for architects)
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Cause and effect relationship

There is a causal link between the error in the provision of the service and the financial loss, established by law in court or recognized by the Insured
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Insurance territory

Financial losses are caused in the territory of the insurance
Protection against risks

Protection against risks

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Financial losses

We indemnify for financial losses caused to third parties as a result of professional activities (professional duties)

What types of activities can be insured?

Activities that require special qualifications and education:

  • Legal/attorney's
  • Notarial
  • Real estate
  • Architectural
  • Auditing
  • Accounting, etc.

Benefits of insurance in INGO

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Reliability

Automatic reinsurance protection from international reinsurers with a reliability rating of at least A- (A.M.Best) / A+ (S&P)
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Experience and compliance

30 years of experience. INGO's insurance terms and conditions comply with general international requirements or the requirements of a specific contract
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Optimal insurance conditions

We offer quality insurance coverage at the best price
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Responsibility
Insured
Amount and payment of insurance indemnity

Amount and payment of insurance indemnity

The amount of the insurance indemnity is determined on the basis of documents from the competent authorities or by a court decision. If, by a court decision, the amount of indemnity exceeds the limit of liability under the insurance contract, the insurance indemnity shall be paid within the limit specified in the contract, and the balance shall be paid by the insured.

If there is no doubt as to the essential circumstances of the insured event (the fact of the event and damage, the existence of a causal relationship, the amount of damage, etc.), the insurance indemnity may be paid out of court.

Within the limits of the insurance contract, reimbursement of expenses incurred to prevent and/or reduce losses may be provided for, even if the measures taken were unsuccessful.

Only financial losses are covered, not material losses. Damage to life, health or property is not covered.

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The level of financial stability of INGO

uaAAifr
outlook - «Evolving»
8.12.2023

Frequently asked questions

In this section, we have collected the most frequently asked questions from our clients. If you do not find the information you are interested in, please use the feedback form.
Frequently asked questions
How is the sum insured set?

The sum insured is determined by agreement of the parties - the insured company and INGO - based on the amount of possible losses that may be caused to third parties (the company's clients) in the course of the insured company's performance of its professional duties and legal requirements.

What is the cost of insurance?

The cost of insurance is calculated individually and depends on the following factors:

  • the amount of coverage
  • type of activity of the insured company
  • total turnover (current and next year)
  • actual and planned revenue from the insured activity
  • number of employees
  • availability of non-resident employees
  • work experience
  • history of claimed losses
What are the exclusions from insurance coverage?

An exhaustive list of exclusions is determined by the insurance contract on the basis of the INGO insurance rules. Exclusions from insurance coverage are:

  • Disclosure of information
  • Intentional, criminal acts
  • Losing a case in court, unless it was a direct result of a lawyer's mistake (missed deadlines, etc.)
  • Actions of contractors
  • Actions of a trainee or other unqualified person (including in case of replacement of an absent employee)
  • Actions of the insured's representative who does not have the right to carry out the insured professional activity
  • Loss of documents
  • Claims based on the termination / termination of the contract between the insured and a third party
  • Consulting services, other than within the framework of the insured activity specified in the contract, in particular: consultations on investments
  • Actions of the Insured that are incompatible with his/her independent status (interest)
  • Providing a deliberately false conclusion drawn up without verification
  • Valuation of property that has cultural or historical value, is an antique
  • Requirements for the return of fees

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