Professional Indemnity Insurance

Modern handling for your optimized insurance coverage.

In addition to the actual professional challenges, law firms are increasingly confronted with a variety of management issues, such as the choice of the appropriate legal form, the content orientation, or the internal organization.

Modern and risk-appropriate insurance cover.

Insurance coverage is an essential element! Therefore, the goal should always be to have insurance coverage that is a perfect fit with an optimal ratio of premium, sums insured, and insurance conditions, as well as market transparency – and to do so in the shortest possible time and in the smart way.

Changes to the German Federal Lawyers’ Act (BRAO-Reform) passed on 01.08.2022 have had a big impact.

In the worst case, professionals have unlimited personal liability.

Legal forms and agreements that limit liability, as well as customized insurance coverage, are essential safety nets for the financial protection of a law firm.

Insurance coverage plays an important role in competing for clients and appointing courts.

Insurance for
single insolvency

Insurance for single insolvency and restructuring proceedings.

This special insurance provides cover for insolvency administrators and other natural persons who carry out their functions based on an order by court according to the German law "Insolvenzordnung" and "StaRUG". The courts usually authorize the payment of the premium for a proceeding-related PI insurance from the bankruptcy estate in order to take into account the special risk of liability and the protection of creditors.

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Basic
insurance

The constant protection.

The basic insurance comprehensively covers the permanent insurance needs and includes the statutory compulsory insurance. It consists of an insurance sum program and general and special insurance conditions, which are adjusted to the
→ legal form,
→ liability agreements
→ type and number of professionals
→ areas of law covered
→ client structure
→ international character
→ exercise of personal mandates
→ escrow accounts etc.

Excess
insurance

Purchase annual maximum annual aggregates with an effect on premiums.

In addition to the basic insurance, an excess provides further sums insured as permanent coverage. The annual maximum annual aggregates can be selected with an effect on premiums according to the risk, and excess layers can follow one another. Basic insurers offer varying levels of aggregate capacity. Due to healthy competition, querying the insurance market is worthwhile.

Mandate-
related
insurance

Temporary special insurance needs.

This insurance covers a mandate separately; in particular for larger mandates and activities according to the Insolvency Regulation (InsO). It is the product of choice for exceptional risks, as its content is specifically tailored to them, and it is often more cost-effective than extending permanent coverage. It can be taken out as stand-alone or as an excess.