Professional Indemnitiy for Digital Professions

What Professional Indemnity Insurance for Digital Professions offers

Professional Indemnity Insurance for Digital Professions covers you in general against claims for compensation by “third parties” (e.g. clients or customers) if you are held responsible for personal, property or financial loss from your work due to statutory liability provisions.

Contractual Liability is Also Insured

Since two thirds of all damage events reported by companies can be traced back to the breach of contractual obligations, indemnity insurance through also covers claims arising from “contractual liability”.

By safeguarding legal and contractual liability, Professional Indemnity Insurance for Digital Professions protects your private assets and the client in the event of higher claims for compensation through the available sums insured for financial loss, personal injury and property damage.

The Four Central Service Areas of Professional Indemnity Insurance for Digital Professions

  1. Review of Claims
    Examination of whether and to what extent the freelancer is obliged to pay compensation.

  2. Compensation Payment
    In the event of a justified claim for compensation, payment of the compensation (up to the agreed sum insured minus any agreed deductible).

  3. Legal Protection (Defence Against Compensation Claims at the Expense of the Insurer)
    So-called “ passive legal expenses insurance”: If necessary, the insurer also fends off unjustified or excessive claims for compensation as well as warnings or omissions through out-of-court or court proceedings. Professional Indemnity Insurance for Digital Professions conducts a necessary liability-related legal dispute for the self-employed person and pays all procedural costs incurred (lawyer, court, expert, expert and witness costs).

    This also relates to possible criminal proceedings (legal protection for criminal proceedings) or to an unjustified offsetting of compensation against your remuneration (legal protection of remuneration).

  4. Minimise the Entrepreneurial Risk of First-party Claims
    With the included First-party Claims Insurance and the optional First-Party Cyber and Data Risks Insurance (FPC) add-on, professional indemnity insurance significantly reduces the entrepreneurial risk for digital occupations. The following first-party claims are an integral part of the Professional Indemnity Insurance coverage for Digital Professions:

    • Costs of criminal defence in the event of a damage event (legal protection for criminal proceedings)
    • Legal costs for the judicial enforcement of undisputed remuneration claims (legal protection of remuneration)
    • Costs of loss of your own domain caused by a third party (legal protection of domains)
    • Changing or blocking your own website (e.g. hacking damage)
    • Replacement of lost, own, written documents for order processing,
    • Costs of an external PR consultant in the event of imminent or already occurred reputational damage due to a damage event.