First-Party Financial Losses

Professional Indemnity Insurance for Digital Professions offers additional insurance for certain damage that you suffer yourself. Our add-on First-Party Financial Loss Insurance (FPI) includes:

Coverage for Project Contracts

Competition Law

You are covered if a client or project intermediary makes a claim against you because you have breached an agreed non-compete clause. This also includes agreed contractual penalties.

Fidelity Loss Caused by Employees

Financial losses caused by employees can also be insured, for example if they result from theft or fraud, incorrect payments, missed discounts, or mistakes in invoices and orders.

Cyber Fraud

Financial losses caused by cyber fraud can be insured if employees are tricked into making payments or delivering goods or services, for example through phishing, social engineering, CEO fraud, fake invoices, or manipulated payment instructions. The insurance can also cover the direct financial loss and reasonable crisis consultancy costs to help prevent or reduce further damage.

Reputational Damage

If there is a risk of reputational damage in connection with an insured damage event, the insurer will pay the costs of a PR consultant in order to prevent losses or keep them as low as possible.

Changing or Blocking of your Own Website

If your website has been changed or blocked by a hacker, the insurer bears the costs necessary to reverse the damage.

Loss of Written Work Documents

The insurance covers the replacement of lost written (including electronic) working documents that you need to complete orders.

Legal Protection for Domains

The insurance covers the costs for loss of your own domain name rights or the power of disposal over your own homepage caused by third parties.

Loss of Employees, Particularly Key IT Specialists (Key Person Coverage)

Costs resulting from the loss of a key employee can be insured if that person plays an important role in the success of the business or a specific IT project. This can include, for example, key representatives or IT specialists.

Optional Add-on

Your first-party claims insurance can also be expanded upon request as part of the following optional add-on.

AI-Related First-Party Losses (ARL)

Protects you against financial losses caused by malfunctions or erroneous decisions made by AI systems

First-Party Cyber and Data Risks Insurance (FPC)

The insurance covers first-party claims related to hacker attacks, DoS attacks, cyber extortion, computer abuse, theft of media or devices, and any other data infringement.