Why you should go for professional liability insurance?
There's always a chance you could commit an error in your work and cause loss or damage to customers, other businesses or third parties. Because even professionals make mistakes, forget things or give incorrect advice. If you or one of your staff commit a professional error that causes loss or damage, then you're liable. You have to repair the damage or pay compensation.
That's where professional liability insurance steps in and compensates the person or business suffering loss or damage due to your professional error. That way, you protect your own business from compensation claims made by third parties. Even if the loss is purely financial, such as where a customer has to suspend works on site or pays too much tax because you made an accounting error, we will pay out.
If you're a director or manager of a company or NPO, our director’s third-party liability insurance gives you extra protection.
What is insured?
Your third-party liability whilst operating your business
We pay compensation to persons who incur loss or damage:
- while you're carrying out your work
- from products you deliver to them
- due to work carried out by you at their premises
Your professional liability
We compensate loss or damage that others suffer due to a professional error by you, even in cases of:
- libel and slander
- infringement of intellectual property rights
Exclusions
- loss or damage that you cause:
- by gross negligence
- in deliberately breaking the law
- loss or damage that your products cause when they:
- fail to work properly
- don't meet your customers' specs
- your specific third-party liability as a director of your company
Cover and insured sums
We adjust the cover and amounts you want to insure in line with your professional activity. Your KBC insurance agent will discuss with you to tailor the insurance fully to you, your work and your business.
Full protection for your business operations
More things you need to know
- Belgian law applies to this policy.
- The insurance in this policy applies for a term of one year and is tacitly renewed unless you terminate it no later than three months before the principal renewal date.
- Your intermediary is your first point of contact for any complaints you may have. If no agreement can be reached, you can contact KBC Complaints Management, Brusselsesteenweg 100, 3000 Leuven, complaints@kbc.be, tel. 016 43 25 94 (free number) or + 32 78 15 20 45 (pay number), fax + 32 16 86 30 38. If this does not result in an appropriate solution, you can contact the Insurance Ombudsman for the entire industry at de Meeûssquare 35, 1000 Brussels, info@ombudsman.as, www.ombudsman.as.
- This does not affect your right to initiate court action.
This policy forms part of the KBC Commercial Policy Liability Insurance. KBC Commercial Policy Liability Insurance is a product of KBC Insurance NV, Professor Roger Van Overstraetenplein 2, 3000 Leuven, Belgium – VAT BE 0403.552.563 – RPR Leuven – IBAN BE43 7300 0420 0601 – BIC KREDBEBB. Company licensed by the National Bank of Belgium, de Berlaimontlaan 14, 1000 Brussels, Belgium, for all classes of insurance under code 0014 (Royal Decree of 4 July 1979, Belgian Official Gazette of 14 July 1979). Member of the KBC Group.
