What is Professional Indemnity Insurance for Digital Professions?

exali generally uses a broad description of the insured professional activities rather than a closed list. This means that all activities and services normally offered within an insured sector are automatically covered, subject to the policy terms and exclusions.

This broad approach can include professional activities in IT, software development, telecommunications, media, marketing, consulting and other professional or digital services. In our experience, many customers work on projects that combine different areas of expertise, and these areas cannot always be clearly separated. Taking this into account is important in order to provide customers with comprehensive cover.

Claims listed as exclusions in Section E of our Terms and Conditions are not covered.

Tip: Before taking out insurance, check the exclusions carefully. This can save you time and effort after the policy has been purchased.

exali's Professional Indemnity Insurance covers pure financial loss as well as personal injury and property damage. Examples include programming errors, incorrect professional advice, missed deadlines, unusable media or marketing content, online shop downtime caused by hosting problems, and legal notices concerning infringements. Personal injury or property damage in your own office or during an on-site client meeting may also be covered. Optional add-ons allow you to adapt the cover to your individual needs.

Yes. exali's Professional Indemnity Insurance for Digital Professions fully covers losses suffered by clients as a result of using AI tools in the insured professional activities. This can be relevant in IT, media, consulting and many other digital services. There is also an optional AI-Related First-Party Losses add-on. It covers additional costs that you incur because an AI system malfunctions or performs an incorrect action. This includes, in particular, necessary additional costs for analysing the problem, correcting the error and restoring systems.

exali's First- Party Financial Loss Insurance (FPI) for Digital Professions includes cover for several useful first-party losses, including:

• Costs resulting from unauthorised third-party modification or blocking of your own website
• Loss of work documents, including electronic documents
• Losses caused by dishonest acts of your own employees
• Losses caused by CEO fraud, also known as fake president fraud, phishing emails and similar scams

Every exali customer can also contact us directly and personally with questions before taking out the policy, during the policy term and in the event of a claim. We do not use a call centre or waiting queue. Our customers speak directly to specialists, supported by more than twelve years of experience and over 25,000 active customers.

The policyholder is, of course, insured, whether the policyholder is a natural person or a legal entity. In addition, the persons listed in Section C of the Terms and Conditions are co-insured:

Co-insured persons are

• the policyholder’s statutory representatives,
• the policyholder’s managing and other salaried employees, casual workers, volunteers, apprentices, unpaid trainees, interns and working students,
• employees of temporary labour companies integrated into the policyholder’s operations,
• freelancers (natural persons) integrated into the policyholder’s operation, insofar as they are active in the name of and on behalf of the policyholder,
• shareholders, limited partners, members of Supervisory Boards and Advisory Boards (natural persons), if they perform an activity insured under this contract in the name and on behalf of the policyholder.

Insured companies are

• the policyholders,
• subsidiaries, branch offices and offices of the policyholder in domestic countries and the countries of the European Economic Area (EEA) or the United Kingdom (UK),
• subsidiaries of the policyholder outside of the EEA and the UK, if they are explicitly named in the insurance policy.

The premium is calculated individually for each customer's situation and professional sector. The calculation takes into account annual turnover, the selected sums insured, optional add-ons and possible discounts, such as a start-up discount or a multi-year term discount. exali's Professional Indemnity Insurance starts at EUR 133.10 net per year. The average premium is EUR 506 net per year.

Calculate your premium here

Report the claim to exali Customer Service as soon as possible so that the next steps can be discussed with you. If you have suffered or become involved in a loss, try to stay calm. You can reach us by telephone on +49 (0) 821 80 99 46-0 or by email at info@exali.com. Together, we will prepare the required information and forward it to the insurer.

The notice period is one month before the end of the insurance year. exali offers a minimum policy term of either one year or three years, with a 10% discount for the three-year term. If notice is not given at least one month before the policy expires, the policy automatically renews for another insurance year.

A special right to cancel applies in the following cases:

• The premium is increased without a corresponding change in cover. This does not include adjustments caused by an increase in turnover or the end of a start-up discount.
• The insured professional activity ends, for example because a freelancer takes up permanent employment.
• After a claim has been settled.
• Any premium paid in excess will be refunded on a pro rata basis.

If you temporarily pause your business activities, your insurance cover continues as usual. This is important because clients may still make claims against you after a project has ended. If you stop your business activities completely, you have a special right to cancel the policy from the date on which you notify us that the business has closed. Any premium paid in excess will be refunded.