Basic cover
- Retroactive cover (prior risk)
- Incorrect advice or calculation
- Negligence or omission
- Defence costs when a claim is made
Professional indemnity insurance through Hienfeld
Professional indemnity insurance covers pure financial loss caused by a mistake in advice, design or calculation. The form we use through Hienfeld suits practices with a technical or structural design risk.
- several insurers compared objectively
- 9.5 customer rating for a new policy
- AFM licence 12016589
- Personal 072 - 509 24 56, weekdays 9–17
This page in another language: Nederlands
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
- We arrange the switch, including cancellation
A premium indication, not personal advice. Prefer to talk it through? Call 072 - 509 24 56.
- Independent advice
- Several insurers
- Switching arranged
- Help with claims
In brief
A professional indemnity insurance is not insurance for broken property or injured people. It covers pure financial loss: financial detriment that arises without anything being damaged. A structure calculated incorrectly, a mistake in a specification, a missed deadline, advice resting on incorrect assumptions. Property damage and injury belong on the public and employers' liability insurance.
We use this form of cover mainly where the mistake only becomes visible during construction and the loss falls on the client: engineering and design consultancies, building consultants, installation advice, testing and inspection. There the policy has to fit the general terms and conditions you use and the insurances running around the building itself.
As an independent adviser we are not tied to Hienfeld. What we compare is the description of the insured profession, the retroactive period, the sum insured per claim and per year, and the treatment of advisers hired in. A service provider with a different profile may be better served by the form we use through Hiscox.
Independent, personal, sorted quickly
We compare your professional indemnity insurance (BAV) across dozens of insurers, explain where the real differences lie, and arrange the switch from start to finish — without you having to chase it yourself.
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Through Finass or direct with Hienfeld?
The structure of the cover in three parts, with an overview per situation below.
Extended cover
On top of that to professional errors, also statutory interest, retroactive cover and errors by employees.
- Agency workers, interns & volunteers
- Retroactive cover (prior risk)
- Errors by employees
- Loss of documents
Complete package
The most complete cover. We compare Hienfeld's extended versions with the market.
- Claims by third parties
- Defence & legal costs
- Retroactive cover (prior risk)
- Higher sums insured
What is covered
| Situation | AVB | BAV | Cyber |
|---|---|---|---|
| Injury to a visitor or customer | Yes | No | No |
| Damage to a client's property | Provided it is declared | 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 | Provided it is declared | Yes |
| Damage to property in your care | No | No | No |
What we do
| What we do | At Finass | Direct with Hienfeld |
|---|---|---|
| Comparison across several insurers | Yes | No |
| Advice based on your own situation | Yes | Sometimes |
| One point of contact for claims | Yes | Sometimes |
| Cancellation with your current insurer arranged | Yes | No |
| We determine whether Hienfeld is the best choice | Yes | No |
| Advice fees for you as a customer | No | No |
This overview concerns our service, not the cover. What is actually covered is set out in the policy conditions and on the insurer's insurance card (verzekeringskaart); you receive both before you take out cover.
What does your premium depend on?
- Discipline and type of project. Structural design, installation advice and inspection work each carry a different risk of consequential loss.
- Annual turnover from advisory assignments. Turnover is the usual basis for calculation. The share of large projects counts separately alongside it.
- Sum insured per claim and per year. A client often requires a minimum. The annual limit determines how many claims fit within it.
- Retroactive period chosen. The further back the retroactive date, the more old work falls within the cover and the higher the premium.
- Excess per claim. A higher excess keeps small complaints outside the policy and brings the rate down.
- Area of operation and applicable law. Assignments and buildings outside the Netherlands call for an extension of territory and jurisdiction.
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.
Why arrange it through Finass Verzekert?
We look at the terms as well as the premium, and stay your point of contact when there is a claim.
Independent
We are not tied to one insurer and compare on the basis of an objective analysis of several companies.
One fixed adviser
You call or email someone who knows your file. No menu options, no changing call centres.
Switching without hassle
We cancel your old policy and align the start date, so you are never a day without cover.
Help with claims
We report the claim and monitor how it is handled. In urgent cases you can reach us on the emergency line.
9.5New policy
9.8Claims handling
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.
Where things go wrong in practice
Four points that make the difference between a policy that pays out and one that does not.
Financial loss, not property damage or injury
The dividing line is sharp. If you calculate a floor too lightly and it has to be strengthened before anything happens, that is financial loss and you are in the right place here. If the floor collapses and someone is injured, that is injury and property damage and it is assessed under Articles 6:162 and 6:170 DCC on public and employers' liability insurance. Without both covers, a gap opens up on exactly that line.
The fit with your general terms and conditions
Design and advisory practices usually work with terms limiting liability, for example to the amount of the fee. An insurer counts on that. If you accept more in a contract than the law makes you liable for, or give a guarantee or a promise as to the result, that is contractual liability and it is excluded. Have unusual contract clauses assessed in advance.
Retroactive cover, run-off cover and the moment of the claim
The policy works on the basis of the claim: the claim must be made during the term, even if the mistake was made years earlier. That requires retroactive cover, with a start date going back far enough. Circumstances you already knew about at the start are always excluded. Report a claim or a threatened claim without undue delay. That follows from Article 7:941 DCC.
Advisers engaged and putting your own work right
If you outsource a calculation or part of a design, you remain responsible towards your client; through Article 6:171 of the Dutch Civil Code the mistake of a party you engaged can land with you. Check that their liability is insured. What the policy does never pay for is redoing your own work: putting your design right, repaying fees and any fines or penalty payments remain for your own account.
Retroactive cover (prior risk)
Retroactive cover (prior risk) Included for your staff during work.
Defence & legal costs
Frequently asked questions
This is what people ask us most.
What is the difference from public and employers' liability insurance (AVB)?
Public and employers' liability insurance covers damage to property and to people: a device knocked over, injury on a building site. Professional indemnity insurance covers financial detriment without anything being broken: a calculation error, wrong advice, a missed deadline. Anyone who both carries out work and advises needs both, otherwise a gap opens up on exactly the line between the two.
Am I covered for work from before the start date?
Only with retroactive cover. The policy looks at the moment the claim is made, not at the moment of the mistake. Without retroactive cover, everything you designed or advised on earlier remains uninsured. Circumstances that you already knew at the start could give rise to a claim are excluded in any event. You must disclose those when you apply.
Does the policy cover contractual penalties and guarantees?
No. What is insured is liability arising from the law. If you include a penalty clause, a guarantee or an obligation as to result in an agreement that goes further, that excess falls outside the cover. The same applies to penalty payments and to repaying your fee. So have unusual contract terms assessed in advance.
Why compare if Hienfeld offers this product?
Because the differences between providers are in the detail: the description of the insured profession, the retroactive period, the treatment of third parties engaged and the limit for defence costs. We set those side by side and assess which form fits the assignments you take on. For service providers in IT or communications, the form we use through Hiscox be more suitable.
Every situation is different. For these situations we have a separate page.
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Ready to compare?
Request a quote without obligation. We will look at which insurer best matches your activities and your risk.
Prefer to call? 072 - 509 24 56, weekdays 09:00–17:00.
Claim on the road? Emergency line 06 - 55 20 40 72.
About our service
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.
This page was compiled by Finass Verzekert (LinkedIn). Last updated on .
The information on this page is general in nature and is not personal advice.