Liability
- Damage to third parties
- Employers' liability
- Care, custody and control as an extension
Professional indemnity for self-employed professionals
Professional indemnity insurance covers loss that arises without anything being broken, and that makes cover over time more important than cover on paper.
- 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
Pure financial loss is loss without damaged property and without an injured person. A calculation that is wrong, advice that costs a subsidy, a design that turns out not to be permitted, a report on which someone else based an investment. In all those cases nothing is broken, while your client is out of pocket. Public and employers' liability insurance leaves that item standing.
Virtually every professional indemnity policy works on a claims madebasis. What matters is the date on which the claim is made against you, not the date on which you made the mistake. That shifts attention to two provisions: retroactive cover, for mistakes from the period before the start date, and run-off cover, for claims that come in after the policy has ended.
What you agree by contract counts too. If you limit your liability in your general terms and conditions, that reduces the amount you can become liable for. If instead you accept more than the law requires of you, that excess remains uninsured. So when we take stock, we read your terms as well, not just your turnover figure.
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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What does professional indemnity for the self-employed cover?
The structure of the cover in three parts, with an overview per situation below.
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
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.
What does your premium depend on?
- The nature of your advisory work. Financial, technical, legal and organisational advice each have their own claims frequency and loss size.
- Annual turnover. Turnover is the basis at virtually every insurer and is adjusted afterwards.
- Sum insured. The sum per claim and the maximum per policy year are two separate choices, both of which count.
- Retroactive and run-off cover. How far back the cover reaches and how long it continues after termination is a separate item in the premium.
- Excess. The excess applies per claim and not per year. With several notifications you therefore pay it several times.
- Area of operation and claims history. Work for clients outside Europe and earlier notifications weigh heavily in underwriting.
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.
No dent, but loss all the same
The distinction between property damage and financial loss determines which section you end up in. If your laptop falls on the customer's floor, that is property damage. If you then miscalculate in the quotation so that the customer budgets a project wrongly, that is financial loss. Anyone who both carries out work and advises needs both; see the basics of public and employers' liability.
The policy covers a period, not a mistake
Under claims made, the date of notification governs. If you move to another insurer, the new policy must offer retroactive cover for work in the past, otherwise a gap opens up precisely where your oldest files are. Ask for written confirmation of the retroactive date at every switch and keep it with your policy. This is the most common cause of uninsured claims.
Run-off cover on termination
If you stop trading, take up employment or retire, you remain answerable for earlier work for years. Without run-off cover there is then no longer a policy to absorb the claim. Arrange run-off cover on termination and not afterwards: insurers almost always offer it only at the end of the contract, not retrospectively.
What the insurer never pays
Excluded are intent and wilful recklessness under Article 7:952 of the Dutch Civil Code, fines and contractual sanctions, repaying or redoing your own work, and claims you already knew about when you took out the policy. Guarantees you have given yourself also fall outside: an insurer covers your liability in law, not a promise about the result.
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 injury and damage to property; professional indemnity insurance covers financial loss without anything being broken. If you work purely as an adviser, you mainly need the second. If you combine advice with hands-on work on site, you need both, because one unfortunate afternoon can touch both sections.
I am switching to another insurer. What happens to old mistakes?
They fall under the new policy only if it includes retroactive cover going back at least to the start date of your old policy. Without that, work from the past is uninsured as soon as the old policy ends. So always have the retroactive date put on the policy schedule and compare not only on premium but precisely on this point.
I am stopping next year. Should I keep the policy running?
You are better off arranging run-off cover. Liability for earlier work continues after your last invoice, while your policy stops and claims made looks at the date of notification. You buy run-off cover on termination, for an agreed period. If you do not, you carry claims about old work entirely yourself, including the costs of defence.
Are the costs of redoing my work covered?
No. Improving or redoing your own work is excluded, as is repaying your fee. What can be covered is the loss your client suffers on top of that, for example because he missed a deadline or had to incur extra costs. The distinction between those two items accounts for most of the discussion.
Every situation is different. For these situations we have a separate page.
- Compare professional indemnity insurance (BAV)The main page
- Professional indemnity insurance (BAV) for self-employed professionalsProfessional error, financial loss, claims made
- Professional indemnity insurance through Hienfeld
- Professional indemnity insurance for self-employed professionalsBAV, financial loss, claims made
- Professional indemnity insurance (BAV) for an educational consultancyPure financial loss, claims-made, retroactive and run-off cover
- Professional indemnity or public and employers' liability: which do you need?Professional error, pure financial loss, claims made
Read more
Within Beroepsaansprakelijkheidsverzekering
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.