Professional Indemnity Insurance for small Businesses
Professional Indemnity Insurance for small businesses offers you security against the financial risks of professional errors, which can quickly become a financial burden, especially for smaller annual turnovers. This is what characterises exali Professional Indemnity Insurance for small businesses:
- You can complete the online application in just 5 minutes.
- We advise and support you personally with any questions
- Worldwide insurance cover
- Modular structure – insure only what you need
- Comprehensive cover – wherever your business takes you
Quick Facts about Insurance for Small Businesses
Indemnity Insurance Seal for your Principals
- Individual and comprehensive insurance protection
- High coverage sums for financial losses
- No-claims evidence going back five years
Small business owners can be held personally liable for professional errors. In the event of a claim, you will have to pay for the damages from your personal assets. To avoid jeopardising your financial existence, you should comprehensively protect yourself and your business with Professional Indemnity Insurance for small businesses.
With exali's Professional Indemnity Insurance, you can protect yourself against unjustified claims for financial losses and, thanks to the included public liability insurance, for personal injury and property damage. This way, you are fully covered in your professional capacity and can better calculate your professional risks.
"Professional Indemnity Insurance protects small businesses against professional risks such as financial losses, personal injury and property damage.
This makes it an indispensable insurance for small businesses."
Professional Indemnity Insurance for small businesses provides comprehensive cover for financial losses as well as personal injury and property damage that you cause to third parties (e.g. customers or clients) in the course of your business. Mistakes can happen despite all due care and can quickly lead to high damages. It is not only the active work of small businesses that leads to claims; consultancy services also frequently lead to claims if, for example, crucial information is not taken into account. These errors are of course insured, as are, for example:
- the violation of data protection laws (GDPR)
- violations of rights
- property damage and personal injury
- counselling mistakes
- missed deadlines
- valuation error
- instructional errors
- analysing error
- data loss
- Loss of the keys to rented office space
Not to be forgotten are the risks that arise from increasing digitalisation, which are also covered by exali. These include, for example, third-party cyber damage caused by cybercrime, viruses, malware and ransomware.
What Risks are covered by Professional Indemnity Insurance for Small Businesses?
- Financial losses (e.g. legal infringements, written warnings, missed deadlines, etc.)
- Property damage (lost keys to rented premises, water damage in rented offices, property damage at customers' premises and at trade fairs, as well as on business trips)
- Personal injury (e.g. when in contact with customers, on business trips or at trade fairs)
- Cyber third-party liability (malware, data loss, hacker attacks, DDos attacks)
- Optional: third-party liability as a corporate body (e.g. as managing director of a limited liability company), cyber first-party claims, print first-party claims, withdrawal from the project contract
- Certain property losses (e.g. loss of documents, fraud or false transfers by your own employees)
What does the Insurance cost for Small Businesses?
Every small business owner works in different areas, which is why the Professional Indemnity Insurance must be calculated individually. In our exali online premium calculator, you can get all the information at a glance and immediately see how much your premium is. The relevant factors that influence the insurance premium are:
- Field(s) of activity
- Annual net turnover of the last 12 months
- Whether you are a founder of a new business or a startup company
- Selected sum insured for Financial Loss Liability Insurance
- The selected sum insured for the General Liability Insurance
- Contract term: one or three years
Which Persons are covered by the Professional Indemnity Insurance for Small Businesses?
You and all your business employees are covered by exali's Professional Indemnity Insurance for small businesses. These are the following persons:
- Legal representatives of the policyholder,
- managing and other salaried employees of the policyholder, marginally employed persons, honorary aides, apprentices, trainees, interns and working students,
- Employees of temporary employment agencies, self-employed employees (natural persons) integrated into the policyholder's company
- insofar as they act in the name and on behalf of the policyholder, shareholders, limited partners, partners, supervisory and advisory board members (natural persons)
Insurance cover is also provided for third-party liability claims against the insured parties arising from the commissioning of external companies/subcontractors. The personal liability of external companies/subcontractors and their employees is not covered.
Insured parties are:
- the policyholder, subsidiaries, branches and offices of the policyholder in the countries of the European Economic Area (EEA),
- Subsidiaries of the policyholder outside the EEA, provided that these are explicitly named in the insurance policy.
What Activities can Small Businesses cover through exali?
At exali, small business owners can insure themselves against professional risks in the following areas:
- IT
- Media
- Consulting
- Services
Thanks to the open professional coverage, all overlapping activities are also insured free of charge, provided they are not explicitly excluded in the insurance conditions. For example, you can work as a coach and teach as a lecturer at the same time.
If you are unsure whether we can insure your activity, please feel free to contact the experts from exali customer care. We will provide you with comprehensive advice on all matters relating to the protection against occupational risks. You can reach us from Monday to Friday from 9:00 a.m. to 6:00 p.m. at the following telephone number: +49 (0) 821 / 80 99 46 - 0. With exali, you won't end up in an anonymous call centre or stuck in an endless queue. With exali, you have a personal point of contact. You can also write us an email at any time: info@exali.com