AXA's pecuniary loss liability insurance is an insurance solution that serves to protect the existence of various professional groups. AXA's pecuniary loss liability insurance is most likely to be necessary for professional groups that predominantly perform the following tasks
- Consulting activities
- Notarial activities
- Expert activities
- Checking activities
- Managing activities
If there is an oversight in the exercise of such an activity, this can quickly lead to high financial losses for your customers. As a self-employed person, you are fully liable for these damages. For a whole series of professional groups, pecuniary loss liability insurance is therefore a compulsory insurance. This includes, for example:
- For lawyers
- Notaries
- Tax consultant
- Auditor
- Insurance agent
- Compulsory administrator
- Debt collection
Let our experts at AXA Regionalvertretung fair Finanzpartner oHG in Bremen advise you – we will be happy to help you find the right insurance solution for you and your profession.
This is what you can expect from pecuniary damage liability insurance
The following core benefits are generally included in the insurance coverage of your pecuniary loss liability insurance:
- Examination of the liability issue
- Indemnification from justified claims
- Defense against unjustified claims for damages
- Conduct and assumption of costs of a lawsuit
Effectively cover possible cyber risks with an additional module
Over the last few years, many small and large companies and law firms have become more and more dependent on the functionality of an IT system as such and on the targeted and meaningful processing of data collected. Of course, this also involves a lot of risks. Because where data is stored, it can also be stolen, damaged or manipulated.
If, for example, a hacker attack occurs on your company and important data of your customers is stolen, this can lead to considerable damage to your customers. Apart from the data protection violations that may occur in the process. The expenses for the following self-initiated countermeasures are thereby covered by your additional module for cyber risks:
- Data recovery
- Removal of malware
- Additional costs in case of IT failure
- Reputation management
- Expenses for investigation and observation measures in accordance with the Infection Protection Act
Individuality and flexibility are particularly important for an insurance solution such as pecuniary loss liability insurance, because each of the professional groups listed above has its own requirements and needs when it comes to designing a secure insurance solution. For this reason, we have repeatedly optimized the individual insurance solutions over the years and have adapted our insurance offers in this area to the current needs of the individual professional groups in the best possible way.
Our experts at AXA Regionalvertretung fair Finanzpartner oHG in Bremen will be happy to provide you with comprehensive advice on the appropriate pecuniary loss liability insurance for your business. In addition, we offer you the option of optimizing your insurance coverage for your company with various modules and additional solutions such as fidelity insurance.
For attorneys
In many other professions, missed deadlines are often attributed to hectic everyday life. Adherence to deadlines, on the other hand, is part of the lawyer's due diligence. If a lawyer makes such an oversight, this can have far-reaching consequences for the client under certain circumstances. In addition to the legally required benefits, AXA's pecuniary loss liability insurance also offers the following protection:
- Other ancillary activities, such as guardian of estates, insolvency administrator, guardian, executor of wills, mediator or notary's representative are also insured.
- The insurance cover also includes personal injuries caused by the exercise of the lawyer's activity.
- Protection for traditional law firms, for example protection for partners entering or leaving the firm, the recently introduced PartG mbB or inter-professional associations.
For notaries
Notarial certification is required for many legal transactions. Especially in financially significant transactions, notaries face a high liability risk. Liability for professional negligence is not limited in this area. AXA's pecuniary loss liability covers you with the following supplementary benefits:
- Other ancillary activities, such as officially appointed trustee, executor of estates, executor of wills, insolvency administrator or guardian, are also insured.
- The maximum annual benefit is six times the minimum sum insured.
- The deductible is fixed and amounts to 2.500 Euro.
- Optional extensions for exposed individual risks – so-called property coverages – and high sums insured.
For management and personnel consultants
As a personnel or management consultant, you are active in various areas. Due to the complexity of the activity, the risk in this sector is higher than in others. Errors cannot always be avoided. However, with AXA's property insurance you can prevent the consequences for your existence. For corporate and personnel consultants, our pecuniary loss liability insurance includes the following benefits:
- Comprehensive coverage without restriction to specific consulting areas.
- Insurance coverage also includes cooperation in the realization of the consulting results (interim management).
- Public-law claims are also insured.
- Insurance cover takes effect in the event of an allegation of a knowing breach of duty.
- Claims under the AGG are included in the insurance cover.
- Coverage for intentional property crimes committed by employees.
- No deductible in the event of a claim.
For real estate managers
As a property manager you are not only dealing with high assets. The field of activity is also becoming more and more complex, which increases the liability risk. For property managers, AXA's property insurance includes the following benefits:
- Protection in the event of liability claims under public law.
- Co-insurance of claims according to the General Equal Treatment Act (AGG).
- Internet use and privacy violation are included in the insurance coverage.
- Protection during the supervision of construction projects within the scope of the managing activity.
- Permitted legal services are included in the insurance coverage.
For managers of commercial real estate, the following services are also included:
- Co-insurance of activities as a house, property or mortgage broker.
- The activity as an expert as well as an appraiser in the real estate and housing sector is covered by the insurance policy.
- Coverage for the provision of real estate-related commercial services.
- Services in the area of building management (facility management according to DIN 32736) can also be insured.
- Self-inflicted damage is covered for a maximum property share of 20 percent.
Benefits for other professions
In addition to the above-mentioned professions, there are other professions where special liability coverage is required to protect against financial loss. These include, for example:
- Experts
- Real estate broker
- Insurance intermediary
The optimal supplement to the property damage liability insurance
Not all losses are covered by AXA's pecuniary loss liability insurance policy. For example, pecuniary loss liability does not provide protection against theft, embezzlement or sabotage by employees or hacking attacks by third parties.
AXA's fidelity insurance is therefore the ideal supplement to your liability for pecuniary loss. Fidelity insurance protects you against criminal acts committed by employees or outsiders. Coverage also includes damage caused by an employee to a third party for which your company is liable.