Financial loss liability insurance

Financial loss liability insurance offers optimum protection in the event of wrong decisions or omissions.

Protection against financial risks!

Financial loss liability insurance - what is it?

In many professions, wrong decisions or omissions can cause considerable financial damage to your customers. Financial loss liability insurance offers optimum protection against the financial consequences of such errors and protects companies against claims for damages.

Facts & Figures

0 % proportion of losses caused by consulting errors

0 % proportion of losses caused by breaches of contract

0 % proportion of companies affected by financial losses each year

Your advantages at a glance

Protect your company, organization or institution from unexpected financial burdens: Financial loss liability insurance protects you from the consequences of errors and omissions.

Financial relief

Assumption of compensation claims for personal injury and property damage

Legal support

Assumption of costs for lawyer and court proceedings

Safety in everyday life

Protection against everyday risks and mishaps

Operational safety

Ensures stability despite financial mistakes

FAQ on pecuniary loss liability insurance

We have summarized the most frequently asked questions on the topic of pecuniary loss liability insurance (VSH insurance) for you in our FAQ. Our experts will also be happy to provide you with individual advice.

When is VSH insurance important?

This insurance is particularly important for professional fields in which wrong decisions or consulting errors can result in high financial losses, such as for law firms, tax consultants, auditors, management consultants and IT service providers.

What damage is covered?

The insurance covers pure financial losses caused by errors, omissions or breaches of duty by the policyholder. This includes, for example

Advice errors
Incorrect expert opinions
Failure to meet deadlines
Incorrect drafting of contracts
IT misconfigurations

What is not covered?

As a rule, the following are not covered

Damage caused intentionally
Personal injury and property damage (there is public liability insurance for this)
Damage caused by legal or official requirements
Contractual penalties and fines

Which professional groups need VSH insurance?

Lawyers
Notaries
tax consultants
chartered accountants
Management consultants
IT service providers
Insurance brokers
Real estate agents

Are there special VSH insurances for certain professional groups?

Yes, many insurers offer pecuniary loss liability insurance policies tailored to the needs of specific professional groups, taking into account the typical risks and requirements of these professions.

Is there a subsequent liability insurance?

Yes, subsequent liability insurance provides cover for claims that occur after the financial loss liability insurance has ended but were caused during the term of the policy. This is particularly important when a company is closed or sold.

What is the difference to professional indemnity insurance?

Professional liability insurance is a special form of liability insurance that protects professional groups with a particular liability risk. It covers personal injury, property damage and financial loss. Financial loss liability insurance, on the other hand, only covers pure financial losses.

ecsolutions

Solutions rethought! With our ecsolutions, we offer you complete ecosystems that include more than just insurance. Here, experts with in-depth know-how advise you individually on your situation and your specific needs and provide you with comprehensive support in the form of tailor-made services and products.