Contract Information: Selected Plan Content

The following information gives you an overview of the important contents of the insurance contract for Professional Indemnity for Digital Professions and the risk carrier Markel. We expressly point out that this information is not exhaustive.

1. Type of Indemnity Insurance Offered

The insurance is Financial Loss Indemnity Insurance (FLII) with integrated Professional Indemnity Insurance (PII) for freelancers and service providers.

The financial loss indemnity insurance also includes first-party claims insurance. The following are insured, among others

• Costs of an external PR consultant in the event of imminent or already occurred reputational damage due to a damage event,
• Changing or blocking your own website (e.g. hacking damage)
• Replacement of lost, own, written documents for order processing,
• Costs for loss of your own domain caused by a third party (legal protection for domain)

Optional Modules

In order to adapt the insurance cover individually to your business model, exali.com’s professional indemnity insurance offers additional add-ons:

• First-Party Cyber and Data Risks Insurance (FPC)
• Engineering Activities (ENG)

2. Premium Payment:

The insurance premium is paid annually by credit card as shown in the premium invoice.

3. Failure to Pay the Premium

One-time or first premium

If the insurer does not receive the first insurance premium due to your fault (e.g. insufficient funds in your account), he is not obliged to provide benefits. The insurer also has the right to withdraw from the contract, as long as the one-time or first premium has not been paid in a timely manner, unless you are not responsible for the non-payment.

Follow-up insurance premium

Follow-up premiums must be paid immediately following receipt of the premium invoice. If the premium has not been paid in a timely manner, the insurer may set a payment deadline af two weeks for you in text form (registered letter). After the expiry of the deadline, the insurer may terminate the insurance contract without a notice period. The insurer may combine the termination and the definition of the payment deadline to the effect that the termination takes automatically effect.

In the event of failure to pay any follow-up premiums, the cover provided by the insurer shall remain suspended for one month from the date of expiry of the payment deadline. The insurer will expressly advise you of this consequence when the termination is issued.

4. Minimum Contract Period

The contract period is at least one year, unless the 01.01. of a year has been selected as the primary due date (this can be useful for taxation purposes, for example). In this case, the minimum term is calculated from the shortened year (up to 01.01 of the following year) plus 12 months. You determine the exact start and, if applicable, the different primary due date in the online application. Your entries are documented accordingly in the online policy.

5. Start of Insurance

When you pay by credit card, if the application questions are answered with yes, you will receive immediate insurance coverage, i.e. from 12:00 a.m. CET of the selected start of insurance (including Saturday or Sunday). In the online application, you can choose a backdate of up to 3 months or a date that is up to 12 months in the future.

6. Contract Extension and Termination

The contract is extended by a further year if it is not terminated by the insurer under acceptable reason with two month's notice to the end of the insurance year. You are entitled to terminate the insurance contract with one month’s notice to the end of the insurance year.

7. Special Right of Termination

You also have the right to extraordinarily terminate the insurance if you cease to work (for a freelancer, for example, when you switch to permanent employment). In this case, any overpaid premiums will be reimbursed proportionally.