Making a small mistake in your work can have major financial consequences for your clients. Think for example a lawyer who allows a certain term to expire. Or the constructor/designer that makes an incorrect strength calculation. Or the real estate agent advertising too many square meters in an advertorial for a home or office building. Or the IT employee overlooking a software error. Fortunately, you can protect your assets from liability claims and thereby ensure the continuity of your business. A Professional Indemnity Insurance provides coverage against pure financial loss as a result of a faulty advise.
More and more clients expect their suppliers to have this insurance in place and many professional organizations (including NVM, VBO, NOB and NOAB) require it as well. If you advise, broker, negotiate, draw up, calculate or design for your clients, it is wise to take inventory of all the possibilities. Because a client counts on your expertise –but they may hold you accountable as well!