Financial Loss Liability Insurance
Protection for advisory professions against consulting errors
If you work in a predominantly advisory profession, your clients' assets can suffer serious harm from unintentional incorrect information. In that case, you would be liable for that financial loss. Financial loss liability insurance protects you from this risk.
Benefits of this insurance
Unlike other coverages, it does not require a prior personal or material damage; the pure financial loss is sufficient.
Specially designed for strategy consultants, HR consultants, business start-up advisors, and similar profiles.
For lawyers, tax advisors, and related professions, this insurance is legally mandatory.
We settle legitimate claims and defend your interests against unfounded claims.
What is covered
Lost profit due to erroneous advice
Covers financial losses your clients suffer resulting from incorrect advice.
Damages from delayed delivery
Covers harm caused by delays in service delivery or avoidable additional expenses.
Intellectual property infringements
Covers losses resulting from unintentional copyright or patent infringements.
Non-performance or defective performance
Covers damages resulting from non-performance or poor performance of your contracted services.
What is not covered
Intentional acts
Damages caused deliberately by the professional are excluded from coverage.
Activities not described in the contract
Only the professional activities specifically agreed in the policy are covered.
Real claim examples
Loss due to erroneous strategic advice
A strategy consultant makes an error that causes a financial loss to their client; the insurance covers the corresponding compensation.
Delay in a project delivery
A business start-up advisor misses an agreed deadline, causing additional costs to the client; the insurance covers the loss.
Frequently asked questions
For whom is this insurance mandatory?
It is mandatory for legal and economic advisory professions, such as lawyers and tax advisors. For other professions it is voluntary, though highly recommended.
What is the difference with professional liability insurance?
This insurance is essentially a special form of professional liability focused exclusively on predominantly advisory professions and pure financial losses.
Does it cover programming or planning errors?
Yes, consulting, planning, or programming errors are among the main risks covered by this insurance.
What happens if a client's claim is unjustified?
In that case, we defend your interests and reject the unfounded claim on your behalf.
Do you work in an advisory profession?
Tell us your specific activity, and we will help you determine the right financial loss liability coverage.
Request free advice