Professional Indemnity for Service Professions

Every company that provides services should evaluate the need to insure its liability risks. Service provider are vulnerable to industry-specific risks, which are sometimes very different from the risks faced by manufacturing companies. The question of whether a certain service fully corresponds to the contractually agreed conditions is usually more difficult to clarify than in cases involving the manufacture of a physical product. And so it can happen that even when services are rendered using the utmost care, customer expectations are not met and the customer asserts his alleged claims. This is followed by often protracted and costly legal disputes, which can also have a negative effect on the company's reputation or financial capacity.