Who needs malpractice insurance?

Professional liability insurance is designed to compensate damages caused mainly by negligence in the practice of a profession, especially by those who provide consulting or specialized services.

Targeted professionals include:

• Doctors, pharmacists, lawyers, notaries, accountants

• Builders, architects

• Teachers

• Brokers, interpreters, translators

• Operators and agents authorized to register notices in the Electronic Archive of Security Interests in Movable Property

Mistakes, omissions, or professional negligence may cause damages to clients or third parties.

✅ Covered risks:

• Payments owed to third parties for bodily injury or property damage caused by the insured

• Moral damages claimed by the injured party

• Legal expenses of the insured in case of compensation

• Legal costs of third parties if the insured is required by law to pay

• Damages from loss, destruction, or theft of documents

• Losses from accounting errors, mistakes, or negligence by employees or partners

❌ Exclusions:

• Activities performed outside of a contract with a client

• Intentional damages caused by the insured

• Claims related to war, confiscation, government orders

• Liability caused by radiation, pollution, nuclear contamination

• Claims arising from actions before the insurance took effect

📄 Conditions for compensation:

• Based on the insurance contract and within the insured amount

• The damage must be direct, personal, and verifiable

• It must result from professional negligence or error

📌 Insured’s obligations:

• Timely payment of the insurance premium

• Immediate notification of the insured event

• No settlements without the insurer’s consent

• Not to practice the profession if the license is suspended