The calculator and the quote form below are in Dutch. Prefer to do this in English? Email info@finassverzekert. nl or call 072 - 509 24 56 and we will take it from there.
Work out for yourself what it would cost.
Enter your details; you will receive a proposal within one working day.
We compare the offerings of several insurers
An adviser checks whether the cover suits your activities
A premium indication, not personal advice. Prefer to talk it through? Call 072 - 509 24 56.
In brief
An interface that passes on the wrong amounts, a migration in which records disappear, a release that takes down a production environment: the result is financial loss without anything being damaged. That pure financial loss is excluded on a public and employers' liability policy. For IT, professional indemnity insurance is therefore the main policy and not the add-on.
If you process personal data for a client, you are a processor within the meaning of the GDPR and a processing agreement goes with it. A data breach has to be reported within seventy-two hours. That period runs on through the weekend. Cyber insurance splits into recovery of your own environment and liability towards your clients. Check which of the two you are buying, because they are not the same thing.
The third element is your contract. Penalties under an SLA are an obligation you took on yourself and are therefore not an insured loss. A limitation of liability in your own terms often does more in this field than a higher sum insured. We look at both when putting together your SME insurance package.
The structure of the cover in three parts, with an overview per situation below.
The basics
Liability
AVB for property damage and injury, BAV for professional errors.
Damage to third parties
Employers' liability
Care, custody and control as an extension
Your business
Assets and continuity
Business contents, goods and lost turnover during downtime.
Business contents at replacement value as new
Goods at cost price
Business interruption or additional costs
If you employ people
Staff
Sickness absence, accidents and the traffic risk.
Continued pay for 104 weeks
Group personal accident
WEGAS for traffic risks
What is covered
Situation
AVB
BAV
Cyber
Injury to a visitor or customer
Yes
No
No
Damage to a client's property
Sometimes
No
No
Financial loss caused by an advisory or calculation error
No
Yes
No
Downtime after a ransomware attack
No
No
Yes
Data breach involving personal data
No
Sometimes
Yes
Damage to property in your care
No
No
No
This overview is general in nature and is not personal advice. What is actually covered, including exclusions, limits and the excess, is set out in the policy conditions and the insurance card (verzekeringskaart) of the insurer; you receive both before you take out cover. Taking out cover without advice? Then read what execution only means for you.
Where things go wrong in practice
Four points that make the difference between a policy that pays out and one that does not.
SLA penalties are of your own making
A penalty clause for exceeding a response time or availability standard is a contractual obligation, not compensation under the law. Insurers therefore exclude it. After all, you accepted the obligation voluntarily. Negotiate on the level and on a cap rather than relying on cover. Match it to what you can realistically deliver, particularly where you depend on a cloud provider.
Putting right your own work is not damage
Reprogramming, redoing a migration or correcting a configuration are costs of performance: you are delivering what you should have delivered in the first place. That is a business risk and falls outside every liability policy. What the client suffers on top of that, for instance orders lost during the outage, can be insured. Make clear in your quotation where extra work begins, and record it before you carry it out.
Processor or controller
Your role under the GDPR determines your obligations. As a processor you act on instructions and record that in a processing agreement with arrangements on security, sub-processors and notification. As a controller you carry the duty to report to the regulator within seventy-two hours yourself. Know which role you have with each client; cyber cover often follows that division of roles and the question of who informs the data subjects.
Third-party code and licences
Libraries, components and open source carry licence conditions that can carry through into what you deliver. An infringement of copyright or a licence that prohibits commercial use leads to a claim that is not about quality but about rights. Liability for infringement of intellectual property is not included as standard; ask about it and keep track of which components you use in which version.
What does your premium depend on?
Type of services. Secondment, bespoke development, management, hosting and SaaS each have their own risk profile.
Turnover and largest contract. Not only the total counts, but also the size of your largest single project.
Your own general terms and conditions. A limitation of liability that works caps the claim before the policy comes into play at all.
Personal data processed. The nature and volume of the data, and whether you are processor or controller.
Cyber cover chosen. Recovery of your own systems only, liability only, or both parts.
Retroactive date and run-off. On a claims made basis this determines which past contracts still fall within the cover.
Insurers weigh these details differently. That is where your saving is.
How we arrange it
You request a quoteWe take stock of your activities, turnover and wishes.
We compareseveral insurers, on premium as well as conditions.
You receive a proposalWith an explanation of the differences and the exclusions.
We arrange the switchIncluding cancellation, so there is no gap in cover.
Customers rate our service on four aspects: personal service, service delivery, availability and the outcome. The reviews are collected and published by NH1816 and come from customers who have actually taken out a policy with Finass Advies B.V. or reported a claim.
Not automatically. Many cyber policies focus on your own recovery: forensic investigation, rebuilding systems and loss of turnover through downtime. Liability towards clients and data subjects is a separate part that you have to include expressly. Check which of the two is on your policy schedule, because the split between your own loss and liability is decisive.
Are SLA penalties covered?
No. A penalty under a service level agreement is an obligation you took on yourself and not compensation under the law. Insurers exclude contractually accepted obligations that go further than what the law would impose on you. So limit the level of penalty clauses in negotiation and tie them to an annual cap.
What if I lose data during a migration?
Redoing the migration is performance of your contract and is for your account. The loss your client suffers on top of that, for instance through downtime or reconstructing data by hand, can fall under the professional indemnity cover. Always work with a verified back-up and record that the client approved it beforehand.
Do I need an AVB as well as a BAV?
Often yes. Your main risk is financial loss and that belongs on professional indemnity insurance. But as soon as you visit clients on site, install hardware or receive visitors, damage to property or injury can arise. That is exactly what public and employers' liability insurance is for. The two policies cover different types of loss and do not replace each other.
Finass Verzekert is a trading name of Finass Advies B.V. We advise on and arrange non-life insurance on the basis of an objective analysis of several insurers, and receive commission for this from the insurer, which is included in the premium. You pay no separate advice fee. Before you take out cover, we establish your wishes and needs.
You will find our licence, KvK and Kifid details and our complaints procedure at the foot of every page.
