Professional Responsibilities
Professional liability insuranceis an important tool to protect businesses and individual professionals from possible errors or omissions in the performance of their professional duties.It is a type of insurance that covers the liability of the insured for damages caused to third parties during or in connection with the exercise of his professional activity.Insurance covers various fields such as Professional Consultancy, Professional Services, Manufacturing, Trading, Warehousing, Transport and Logistics, Construction, Healthcare, Educational and other professional fields where the risks of errors or omissions may materialize.
The scope of Professional Liability insurance includes:
- Property damages, including loss of property, lost profits, etc.
- Non-pecuniary damages, including pain and suffering, loss of work ability, etc.
The insured sum is determined in BGN and is proportional to the risk of the insured activity.The insurance can be taken out for different periods of time, usually from one to three years.
Insurance is regulated by law for notaries, lawyers, medical personnel (doctors and nurses), accountants and auditors.
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