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Juridical activity is usually related to provision of consultations on legal matters, completion of applications, complaints, claims and other legal documents, representation of client’s interests in governmental authorities, municipal authorities, law-enforcement authorities, court etc. Protection from the risk of negative consequences resulting from unintentional errors in the course of lawyer professional activity performance in the form of insurance is one of the most effective forms of lawyer’s possible losses minimization.
Loss event
The fact of laying indemnification claims against the Insurant by any third parties to indemnify damage inflicted on such third parties by an unintentional professional error introduced by the Insurant in the course of performing juridical activity by the latter.
The event is recognized insured (loss event), if it occurred within the validity term of the insurance agreement in the territory of insurance due to performance of juridical activity by the Insurant and subject to the Insurant’s guilt of doing damage to third parties legally acknowledged by a court or the Insurant himself (upon consent of the Insurer).
Examples of loss events may be inflicting damage on third persons due to:
- incomplete or incorrect consultation on legal matters;
- errors in the course of composing legal documents;
- errors in the course of representing interests of third persons in governmental authorities, municipal authorities, court etc.;
- other cases.
Indemnification
The amount of insurance indemnity is calculated proceeding from actual damage done to third persons up to the amount insured (limit of the Insurer’s liability) as follows:
- in case of a third person’s applying to court – based on the judgment (which have entered into legal force) on the amount of losses suffered due to doing damage to property of such third person;
- in case of unavailability of disputes between the affected third person and the Insurant, the amount of losses is defined by the latter in consultation with the Insurer.
Insurance rates
Insurance rates vary between 0.4 and 1.8 per cent of the amount insured depending on the limit of liability declared by the Insurant (amount insured), number of employees, remuneration received, professional experience of employees etc.
Amount insured
The Insurant individually establishes the amount insured (limit of liability).
Franchise
Franchise is a part of losses not indemnified by the Insurer in case of a loss event occurrence (established in the amount agreed by the parties).
All³anz Ukraine benefits
- All³anz has vast experience in voluntary professional liability insurance;
- Partnership with leading western reinsurance companies and financial solvency allow All³anz Ukraine undertake a large scope of obligations under insurance agreements;
- All³anz Ukraine has representative offices in all regions of Ukraine, this is why we are ready to provide high-quality insurance services all over Ukraine;
- The scope of insurance coverage offered by All³anz Ukraine allows ensure maximum insurance coverage of risks arising in the course of conducting different types of business operation by the Insurant.
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