The number of claims against companies has drastically increased over the past few years. A so-called claim culture is increasingly prevalent. Also, the amounts of the damage claims are clearly mounting.
This development is supported by legislation offering wider possibilities to individuals and companies to demand financial indemnification.
A custom made liability insurance is not an unnecessary luxury and offers you protection against the possible infringement on the continuity of your enterprise.
General Liability Insurance
The general liability insurance covers property and/or bodily damage suffered by third parties, including the consequential damages that are the result thereof (lost profits, loss of income, etc.) The claims submitted by employees against their employers are also included in the coverage (employer liability). These cover for instance claims related to occupational diseases, like RSI.
Giving advice concerning complex financial questions or offering financial products is not without risk. You as a financial institution can be held liable if clients incur damages as a result of your advice with respect to a financial product, as a result of miscalculations, but also if the institution has been negligent. Without proper insurance professional negligence can jeopardize the continuity of your enterprise. Professional Liability Insurance provides you with financial security so that you can offer your services without concerns.
As a manager of an enterprise you are exposed to considerable risks. This exposure does not only extend to the company’s capital, but also to your personal assets. You can be held personally liable for improper management, even if mistakes were not made by you personally, but by your co-managers. The D&O Insurance will assist you if this were to happen.
Excess liability insurance is not an independent form of insurance. The insurance only comes into play in case the insured amounts of a primary liability insurance (as discussed supra) are insufficient. The insured amounts of excess liability insurance are also higher than those of primary insurances.
Corporate activities abroad
If you have corporate activities abroad, we can help you. We use a vast international office network of experienced specialists who are familiar with local laws and the local insurance market. As a result, you are guaranteed the best possible advice in your search for the correct insurance..