Professional Indemnity for Digital Professions

The biggest advantage of professional indemnity insurance from exali.com? In keeping with the times, it was designed according to the principle of ‘blanket (inclusive) coverage of your profession’. This means that all liability risks from your professional activity are insured unless they fall under a defined exclusion. For you this means: The insurance adapts to your business model so that you can work without worries.

The following components are included in exali.com’s Professional Indemnity Insurance for Digital Professions:

• Financial loss liability
• General and personal liability insurance
• Insurance for first party claims and breach of trust

In order to protect yourself against first-party claims caused by hackers, you can add the add-on module ‘First-Party Cyber and Data Risks Insurance’ (FPC) to your professional indemnity:

• First-Party Cyber and Data Risks Insurance (FPC)

In the smallest plan, the annual net premium (without insurance tax) for an entrepreneur founding a company or a startup company starts at € 133,10 per year (specifications: sum insured for financial losses = € 100,000, no general and personal liability, deductible = € 250 per insured event, contract term = 3 years). The costs are to be calculated individually for each freelancer, service provider and company. The premium calculator for professional indemnity lets you easily receive a personal offer with just a few clicks. The following entries mainly determine the price:

• Annual net sales over the last 12 months
• Whether you are a founder or a startup company
• Selected sum insured for financial loss liability
• Selected sum insured for general and personal liability insurance
• Selection of the optional add-on module
• Contract term one year or three years

Note: The legal company name and form (freelancer, self-employed, company, partnership or corporation) does not play a role in relation to the insurance premium.

In principle, professional indemnity covers start-ups, freelancers, self-employed professionals and companies in Estonia in the following areas:

• Information technology and telecommunications
• Media and creative industries
• Consulting and business consulting
• Various other service providers such as fitness trainers, office service companies or detective agencies

Overlapping activities in these industries can also be insured with Professional Indemnity for Digital Professions.

The contract term in Estonia is at least one year. When you fill out the online questionnaire, you will be shown the insurance expiration right away. The insurance premium is then due annually on this date.

Special case from Estonia:

Would you like the premium payments for the professional indemnity insurance in Tallinn to be debited directly in January in the following years? You can ensure this by setting the insurance expiration date to 01.01. when concluding the contract from Tartu. In order to comply with the minimum contract period, the contract period is extended accordingly by one year up to 01.01. of the following year. Example: You take out the insurance on 01 September 2018. You want the amount to always be collected in January in the future. In this special case, the expiry date cannot be set on 01.01.2019 (three months after the start of insurance), but only on 01.01.2020 (15 months after the start of insurance) in order to comply with the minimum contract period of 12 months in Tartu.

3-year contract:

Alternatively, you can also conclude a 3-year contract from Tallinn with an additional term discount of 10 per cent in the questionnaire. The Estonian minimum contract period is extended accordingly.

Offer (basic protection and options)
With the premium calculator you can put together your personal offer from the basic plan with different insurance sums and the freely selectable FPC add-on module.

Application questions
You answer the application questions about your professional activity and the associated risks with YES or NO.

Your data
You complete your personal information and assign a password to access the ‘My exali’ customer area.

Applying
In the last application step, you will receive a summary of all entries and all relevant application documents (e.g. the insurance conditions as a PDF) to verify your details. After reviewing, you can submit the binding application/ questionnaire with a simple click.

Activate contract and download the policy
After you have sent the questionnaire, you will receive a confirmation email with an activation link. After activating the contract, you can view and download the insurance policy, the signed premium invoice and all other relevant documents in the ‘My exali’ customer area.

Insurance certificate (= policy)
The insurance policy is created electronically by exali.com and made available to download in your EV SSL-protected customer area ‘My exali’. In the customer area, the premium invoice, your questionnaire, an insurance confirmation, the insurance conditions and all mandatory consumer information are also stored in PDF format.

Start of insurance
Insurance coverage begins on the date you selected in the questionnaire (00:00 CET). The prerequisite for this is that you have answered all questions in the questionnaire with NO.

Note: If you answer one of the questions with YES, we will generally clarify this open matter with you within 48 hours. Only then does the online issue of the policy take place.

If you have selected the current date as the starting point, the contract begins on the current day (including Saturday or Sunday!). You can also choose a different start date in the online questionnaire.

Currently, only the annual payment method is possible. The premium is paid by credit card. This allows us to ensure an online issue of the policy and the immediate start of your insurance. Otherwise the so-called ‘material’ insurance coverage would only begin when the insurer receives the first premium.

Depending on whether you choose the insurance expiration set in the questionnaire or, if you prefer to deviate and select 01.01. as the insurance expiration and extension date, the initial premium is either a full annual premium (for 12 months) or is divided into a first premium for the current calendar year and a second premium for the following year.

Two examples with an insurance start on 03 August 2021:

1. Insurance expiration date (01.09.) selected as was pre-set in the questionnaire
   The first pro-rata month is free of charge → first premium for 01.09.2021 until 01.09.2022
   Yet the insurance coverage starts from 03 August 2021!
2. Deviating insurance expiration selected at 01.01. of the following year
   First premium for 03.08.2021 bis 01.01.2022

1. Minimum contract term
The contract period is at least one year. If, in the online questionnaire, you change the insurance expiration date to 01.01. of the following year, the remaining term until the end of the year is less than 12 months. Therefore, the first term of the newly concluded contract is extended to January 1st of the next year. In the first year, the premium is only calculated proportionally. In the following year, the entire annual fee is charged at the beginning of January.
You determine the exact start of insurance and the options for the insurance expiry yourself in the online questionnaire.
Note: Please note the info buttons in this context!

Alternatively, you can also conclude a 3-year contract with an additional term discount of 10% in the questionnaire. The minimum contract period is extended accordingly.

2. Contract extension and termination
The contract is extended by a further year if it is not terminated by one of the parties (policyholder or insurer) with one month's notice to the end of the insurance year.

3. Special right of termination
In addition to the ordinary right of termination at the end of the contract described under point 2, it is also possible to terminate the contract extraordinarily after a damage event has occurred. You also have the right to extraordinarily terminate the insurance if you cease to work (for a freelancer, for example, when you switch to permanent employment). In this case, any overpaid premiums will be reimbursed proportionally.