+49 (0) 821 / 80 99 46 - 0
+49 (0) 821 / 80 99 46 - 0
Request call-back
Contact us
Report a claim
exali.com My business. My insurance.
My exali login
exali.com
  • Insurance

    Professional Indemnity

    Professional Indemnity Insurance for Digital Professions

    General

    Professional Indemnity Insurance
    General Liability Insurance
    Financial Losses Insurance

    More Information

    Selected Professions
    Glossary
  • News & Stories
  • Blog
  • Product finder
    Product finder
  • My exali login
  • Report a claim
"Policies that offer the best possible protection in case the unthinkable happens"
Tino Wiedemann
Head of Sales
Tino Wiedemann,Head of Sales
My business. My insurance.
Tino Wiedemann
Head of Sales
Tino Wiedemann,Head of Sales

Already in?

With our Newsflash, you benefit from the latest news and topics relating to your business every month:

  • Tips, information and expert interviews
  • Real damage events
  • Legal matters and dangers of warnings
The perfect support for your success.

Home / News&Stories /
A Real-Life exali Damage Event: Forgotten Confirmation Causes 4.000 Euros Damage
Insufficient Care When Applying For Funding?

A Real-Life exali Damage Event: Forgotten Confirmation Causes 4.000 Euros Damage

Post by exaliPost by exaliAuthor
Post by exaliPost by exaliAuthor
Friday, 3 December 2021
Friday, 3 December 2021
Back to the overview

Many people use the funding from the Kreditanstalt für Wiederaufbau (KfW) to renovate their homes in an energy-efficient way and to do something good for the environment - sometimes with professional support from an energy consultant. But even professional competence may not protect against neglect. Such issues - no matter how small - can also cause horrific financial damage, as this real exali claim proves.

Window Replacement With Professional Support

In order to make their semi-detached house more energy-efficient, a couple wanted to replace the windows of their home and finance the project through a funding from KfW in addition to their own funds. In order to meet all requirements, the two secured professional support in the form of an energy consultant for private households at the end of 2020. The consultant was supposed to apply for funding for window replacement using his professional expertise.

No Funding Without Proof

Specifically, the couples project concerned the individual measure KFW430 with a grant of 20 percent of the costs - provided that the applicants adhere to all the required parameters. In fact, the hired energy consultant also ensured, as agreed, that all measures were carried out properly. Unfortunately, however, he forgot to upload an important document at the end - the so-called “Confirmation of Application” (BzA) as proof to the Federal Office of Economics and Export Control (BAFA).

The problem: The funding programme for window replacement expired at KfW at the end of the year. After the failure was noticed, the energy consultant submitted the application including the BzA with the request for goodwill at the beginning of the following year. However, the agency was strict and denied this request a few weeks later. Good advice was literally expensive this time - the couple was of course anything but enthusiastic and demanded the money for the lost subsidy directly from the energy consultant.

Lost funding: A Real Financial Loss:

But how is such a damage due to the lost funding to be classified in terms of insurance and is such damage insurable at all? The present case is an instance of a real financial loss, because the failure of the energy consultant resulted in a purely financial damage for the homeowners. Fortunately, the energy consultant had taken out Professional Indemnitiy for Digital Professions through exali. This Professional Indemnitiy for Digital Professions already includes financial loss indemnity insurance for damages from inadequate advice in its basic coverage.

After the energy consultant reported the damage to us, we passed the case on to the insurer. They reimbursed the amount of damage after a detailed examination. The new windows cost a total of over 20.000 euros, but the actual damage caused by the lost funding amounted to 4.000 euros. After deducting the deductible stipulated in the insurance conditions, the insurer finally reimbursed the entire remaining amount of the claim.

On The Safe Side With The Professional Indemnitiy for Digital Professions

Standing between two fronts in advisory activities requires not only tact, but also a great deal of professional expertise. If, despite the best of intentions and with all due care, something goes wrong - be it a missed deadline, an analytical error or a mixed-up number - good protection is worth its weight in gold. With an Professional Indemnitiy for Digital Professions/ through exali, the insurer not only checks claims for compensation and defends against unjustified claims, but also bears the costs in the event of a justified request.

Our customer service experts will be happy to answer any questions you may have - Monday to Friday from 9:00 a.m. to 6:00 p.m. on +49 (0) 821 / 80 99 46 - 0 or via our contact form.

You can also calculate your premium directly online:

cancel
Yes, delete
Your annual net turnover (last 12 months)
<span class='visible--desktop'>First-Party Cyber and Data Risks Insurance (FPC)</span> <span class='visible--tablet'>First-Party Cyber and Data Risks Insurance (FPC)</span> <span class='visible--mobile'>FIrst-Party Cyber and Data Risks Insurance (FPC)</span>
<span class='visible--desktop'><p><strong>This add-on protects your business from the risk of hacking, DDoS attacks or other internet crime.</strong></p> <p>Reimbursed/covered:<strong> </strong>for example costs for the <strong>restoration of your IT systems</strong>, the commissioning of professional <strong>computer forensics analysts</strong> or specialised <strong>lawyers</strong> (including criminal defence) as well as for <strong>crisis management &amp; PR</strong>. Additional costs for the quick elimination or avoidance of an interruption to your business are also insured.</p> <h5>Further Examples of Damages We Insure</h5> <ul class="liste"> <li>Damage to your own IT systems (from hacking)</li> <li>First-party data rights claim (in particular spying on personal data)</li> <li>Expenses for an (imminent) interruption of business (additional cost coverage)</li> <li>Breach of trust damage (intentional damage to own IT by employees)</li> <li>Costs for criminal defence (internet criminal legal protection)</li> </ul> <h5>Insurer Services</h5> <p>The special benefit about this add-on is the assumption of your own <strong>costs</strong>, e.g. for the commissioning of:</p> <ul class="liste"> <li>Computer forensics specialists</li> <li>Specialised lawyers</li> <li>Consultants to provide information to data owners</li> <li>Professionals for PR &amp; crisis management</li> <li>Credit protection and monitoring services</li> </ul> <p>as well as the assumption of <strong>additional costs, e.g. for the use of third-party IT and computer systems.</strong></p> </span> <span class='visible--tablet'><p><strong>This add-on protects your business from the risk of hacking, DDoS attacks or other internet crime.</strong></p> <p>Reimbursed/covered:<strong> </strong>for example costs for the <strong>restoration of your IT systems</strong>, the commissioning of professional <strong>computer forensics analysts</strong> or specialised <strong>lawyers</strong> (including criminal defence) as well as for <strong>crisis management &amp; PR</strong>. Additional costs for the quick elimination or avoidance of an interruption to your business are also insured.</p> <h5>Further Examples of Damages We Insure</h5> <ul class="liste"> <li>Damage to your own IT systems (from hacking)</li> <li>First-party data rights claim (in particular spying on personal data)</li> <li>Expenses for an (imminent) interruption of business (additional cost coverage)</li> <li>Breach of trust damage (intentional damage to own IT by employees)</li> <li>Costs for criminal defence (internet criminal legal protection)</li> </ul> <h5>Insurer Services</h5> <p>The special benefit about this add-on is the assumption of your own <strong>costs</strong>, e.g. for the commissioning of:</p> <ul class="liste"> <li>Computer forensics specialists</li> <li>Specialised lawyers</li> <li>Consultants to provide information to data owners</li> <li>Professionals for PR &amp; crisis management</li> <li>Credit protection and monitoring services</li> </ul> <p>as well as the assumption of <strong>additional costs, e.g. for the use of third-party IT and computer systems.</strong></p> </span> <span class='visible--mobile'><p>Protection against hacking damage to your own IT systems, DDoS attacks, computer misuse, theft of data carriers and other data rights violations and the majority of the resulting expenses and costs.</p> </span> <div class="spaceTop-20"> <div>If you have any further questions, our customer service is happy to help.</div> <div id="rechnerKontaktForm" class="spaceTop-10"> <div class="col-grid col-grid--flush"> <div class="visible--mobile"> <div id="rkfPhone" class="service-item service-item--phone col col--10 text--center no-margin"> <a href="tel:+498218099460" class="rkfPhone--nr" data-eventpush="eventPush_phone_info"> +49 (0) 821 / 80 99 46 - 0 </a> </div> <div class="col col--2 no-margin no-padding position-relative"> <button type="button" class="close modal-info__close" data-dismiss="modal" aria-hidden="true"></button> </div> </div> <div class="hidden--mobile"> <div class="rechnerKontaktForm--no-mobile"> <div id="rkfCallback" class="service-item service-item--callback col col--tablet--4 no-margin"> <span data-eventpush="eventPush_callback_info"> Request call-back </span> </div> <div id="rkfMail" class="service-item service-item--mail col col--tablet--4 text--center no-margin"> <span data-eventpush="eventPush_mail_info"> Contact us </span> </div> <div id="rkfPhone" class="service-item service-item--phone col col--tablet--4 text--right no-margin"> <a href="tel:+498218099460" data-eventpush="eventPush_phone_info"> +49 (0) 821 / 80 99 46 - 0 </a> </div> </div> </div> </div> </div> <div class="hidden--mobile"> <div class="infoKontaktForm"></div> <div class="text--right cursor-pointer spaceTop-10"> <a data-dismiss="modal" aria-hidden="true">Close</a> </div> </div> </div>
<span class='visible--desktop'>Engineering Activities (ENG)</span> <span class='visible--tablet'>Engineering Activities (ENG)</span> <span class='visible--mobile'>Engineering Activities (ENG)</span>
<span class='visible--desktop'><p><strong>If you provide engineering services exclusively or in addition to IT/telecommunications, you can insure the liability risks with the &bdquo;Engineering Activities&ldquo; endorsement.</strong></p> <p>The Engineering Activities extension provides&nbsp;<strong>blanket coverage</strong>. This means that all engineering activities are covered without the need for listing each and every activity. Those listed in the engineering endorsement are therefore merely illustrative examples:</p> <ul class="liste"> <li>Hardware and software development for machinery and plant, embedded software</li> <li>Machinery and plant testing, commissioning support</li> <li>Quality management and assurance</li> <li>Technical drawing, CAD, CAM</li> <li>Technical management consultancy, in particular purchasing, strategy, process design, activities as expert</li> </ul> <h5>Requirements for Engineering Insurance</h5> <ul class="liste"> <li>You <strong>do not provide engineering services</strong>, plants, machinery or associated parts and/or <strong>planning</strong>.</li> <li>You provide engineering products <strong>in a supporting and/or advisory capacity</strong> and are not responsible fort he final engineering product.</li> <li>No machines, systems, engineering products or other parts shall be put &nbsp;into series production directly / &nbsp;<strong>without approval and acceptance</strong> by the principal (keyword: final sign-off).</li> </ul> <h5>Deductible</h5> <p>The deductible for financial loss and property damage is the same as the deductible selected for the financial loss insurance (FLI).</p> <p>For more information, please refer to <strong>Section A.7 &quot;Engineering Activities (ENG)&quot;</strong> of the Insurance Conditions.</p> </span> <span class='visible--tablet'><p><strong>If you provide engineering services exclusively or in addition to IT/telecommunications, you can insure the liability risks with the &bdquo;Engineering Activities&ldquo; endorsement.</strong></p> <p>The Engineering Activities extension provides&nbsp;<strong>blanket coverage</strong>. This means that all engineering activities are covered without the need for listing each and every activity. Those listed in the engineering endorsement are therefore merely illustrative examples:</p> <ul class="liste"> <li>Hardware and software development for machinery and plant, embedded software</li> <li>Machinery and plant testing, commissioning support</li> <li>Quality management and assurance</li> <li>Technical drawing, CAD, CAM</li> <li>Technical management consultancy, in particular purchasing, strategy, process design, activities as expert</li> </ul> <h5>Requirements for Engineering Insurance</h5> <ul class="liste"> <li>You <strong>do not provide engineering services</strong>, plants, machinery or associated parts and/or <strong>planning</strong>.</li> <li>You provide engineering products <strong>in a supporting and/or advisory capacity</strong> and are not responsible fort he final engineering product.</li> <li>No machines, systems, engineering products or other parts shall be put &nbsp;into series production directly / &nbsp;<strong>without approval and acceptance</strong> by the principal (keyword: final sign-off).</li> </ul> <h5>Deductible</h5> <p>The deductible for financial loss and property damage is the same as the deductible selected for the financial loss insurance (FLI).</p> <p>For more information, please refer to <strong>Section A.7 &quot;Engineering Activities (ENG)&quot;</strong> of the Insurance Conditions.</p> </span> <span class='visible--mobile'><p>The Engineering Activities extension provides&nbsp;<strong>blanket coverage</strong>.</p> <h5>Requirements for Engineering Insurance</h5> <ul class="liste"> <li>You <strong>do not provide engineering services</strong>, plants, machinery or associated parts.</li> <li>You provide engineering products <strong>in a supporting and/or advisory capacity</strong>.</li> <li>No machines, systems, engineering products or other parts shall be put &nbsp;into series production directly/<strong>without the client&#39;s approval</strong> (final sign-off).</li> </ul> <h5>Deductible</h5> <p>Same as the deductible selected for the financial loss insurance (FLI).</p> </span> <div class="spaceTop-20"> <div>If you have any further questions, our customer service is happy to help.</div> <div id="rechnerKontaktForm" class="spaceTop-10"> <div class="col-grid col-grid--flush"> <div class="visible--mobile"> <div id="rkfPhone" class="service-item service-item--phone col col--10 text--center no-margin"> <a href="tel:+498218099460" class="rkfPhone--nr" data-eventpush="eventPush_phone_info"> +49 (0) 821 / 80 99 46 - 0 </a> </div> <div class="col col--2 no-margin no-padding position-relative"> <button type="button" class="close modal-info__close" data-dismiss="modal" aria-hidden="true"></button> </div> </div> <div class="hidden--mobile"> <div class="rechnerKontaktForm--no-mobile"> <div id="rkfCallback" class="service-item service-item--callback col col--tablet--4 no-margin"> <span data-eventpush="eventPush_callback_info"> Request call-back </span> </div> <div id="rkfMail" class="service-item service-item--mail col col--tablet--4 text--center no-margin"> <span data-eventpush="eventPush_mail_info"> Contact us </span> </div> <div id="rkfPhone" class="service-item service-item--phone col col--tablet--4 text--right no-margin"> <a href="tel:+498218099460" data-eventpush="eventPush_phone_info"> +49 (0) 821 / 80 99 46 - 0 </a> </div> </div> </div> </div> </div> <div class="hidden--mobile"> <div class="infoKontaktForm"></div> <div class="text--right cursor-pointer spaceTop-10"> <a data-dismiss="modal" aria-hidden="true">Close</a> </div> </div> </div>
Yes, switch to {{targetDomain}}
You indicated that your headquarter is in {{targetCountry}}. So we will redirect you to the corresponding version of exali, {{targetDomain}}. Settings that have been made may not be transferred. The premium and scope of the insurance policies offered may vary slightly depending on the country.
Would you like to switch to {{targetDomain}}?
No, stay on {{currentDomain}}
You indicated that your headquarter is in {{targetCountry}}. So we will redirect you to the corresponding version of exali, {{targetDomain}}. Settings that have been made may not be transferred. The premium and scope of the insurance policies offered may vary slightly depending on the country.
Would you like to switch to {{targetDomain}}?
Yes, switch to {{targetDomain}}
No, stay on {{currentDomain}}
please wait ...

Previous article
 
Back
 
Next article
These articles might also interest you
Professional Indemnity Checklist: This Is the Info You Need to Get a Policy in 5 Minutes
Professional Indemnity Checklist: This Is the Info You Need to Get a Policy in 5 Minutes
Consulting on Street Lighting: Consulting Firm to Pay 20.000 Euros in Compensation
Consulting on Street Lighting: Consulting Firm to Pay 20.000 Euros in Compensation
Consultants: The Biggest Risks and How to Protect Yourself Properly
Consultants: The Biggest Risks and How to Protect Yourself Properly
Professional Indemnity Insurance - Demystified!
Professional Indemnity Insurance - Demystified!
These articles might also interest you
Professional Indemnity Checklist: This Is the Info You Need to Get a Policy in 5 Minutes
Professional Indemnity Checklist: This Is the Info You Need to Get a Policy in 5 Minutes
Consulting on Street Lighting: Consulting Firm to Pay 20.000 Euros in Compensation
Consulting on Street Lighting: Consulting Firm to Pay 20.000 Euros in Compensation
Consultants: The Biggest Risks and How to Protect Yourself Properly
Consultants: The Biggest Risks and How to Protect Yourself Properly
Professional Indemnity Insurance - Demystified!
Professional Indemnity Insurance - Demystified!
0 Comments
Write a comment
Please fill in all areas marked as * required fields.

By clicking the ‘Send’ button, the data entered in the above form will be collected and processed for the purpose of processing your request. All data is transmitted in encrypted form and only processed within the scope of the information in the data protection information. You have a right of objection with effect for the future.

Insurance

  • Professional Indemnity for Digital Professions
  • Selected Professions
  • Report damage event

News & Stories

  • Articles
  • Videos
  • Glossary
  • Subscribe to Newsletter

About us

  • About exali
  • Jobs
  • Contact us
  • Imprint
  • Data Protection Declaration
  • Right of withdrawal
© exali AG, all rights reserved
Unfortunately, your web browser is out of date! Please update your browser in order to be able to use all functions in the premium calculator.
Choose the location of your headquarter
Depending on your country, the insurance offered by exali may vary slightly. Please select the country where you have your headquarter to get the offer that suits you best.