Professional Liability Insurance provides coverage against professional negligence
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.
If a mistake in a calculation or wrong advice of one of you co-workers leads to damages to a client, chances are that you will also be held liable. The same goes for damages resulting from mistakes made while offering financial services or products. Professional Liability Insurance offers financial security for the enterprise.
Professional liability insurance, also known as Errors & Omissions insurance, is different from corporate liability insurance. While corporate liability insurance is limited to material damages and injuries, Professional Liability Insurance provides coverage when the client incurs damages without injuries or damaged property. Precisely this pure property damage poses a great risk to financial institutions, about which, with professional Liability Insurance you no longer have to worry.
Custom made coverage
A financial institution is like no other aware of the risks it is exposed to. With Institutions Benelux you will obtain your personal team of specialists who, together with your account manager, will provide insights in your risks. The solution will be precisely customized to the specific wishes of your organization so that you can take risks in a responsible manner.