Professional liability insurance (PI)
An event is recognized as insured if:
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
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.
outlook - «Evolving»
8.12.2023
Frequently asked questions
How is the sum insured set?
What is the cost of insurance?
What are the exclusions from insurance coverage?
