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Professional Indemnity Insurance protects individuals and companies against negligence claims made by their client.
Underwriters of professional Indemnity also bear the legal costs of defending the policyholder in a lawsuit and ultimately any damages awarded by the courts.
It is compulsory by law for certain professions in Romania and Bulgaria to carry Professional
Indemnity insurance and in certain cases with minimum limits of indemnity. Such professions include: doctors, surgeons, notaries, lawyers, financial auditors, IT auditors, insurance agents and brokers.
CertAsig currently insures companies with a diverse range of business activities.
Professional Indemnity protects your company from claims if your client holds you responsible for errors or the failure of your work to perform as promised in your contract.
Coverage includes legal defence costs – no matter how strong the allegations might be.
Professional Liability insurance will pay for any advance payment for legal expenses ( lawyer’s fees) resulting judgments against you, including court costs, up to the coverage limits on your policy.