Lawyer Insurance NOvA – online premium calculations

Lawyer insurance covers the financial damage (with your work) caused by the entrepreneur or professional in the exercise of his profession. Business liability insurance covers material and personal damage (to persons and property) caused by the entrepreneur or his employees.

Explanation of professional liability lawyer insurance

A lawyer’s professional liability insurance that covers the commercial risk of compensation for financial loss (financial loss) as a result of breach of contract (acting/care of a reasonably competent and reasonably acting colleague) or tort. The professional liability insurance (often abbreviated as BAV or lawyer insurance) can be part of the main insurance with an extra module for the risk of business liability (or called company liability insurance) and sometimes directors’ liability.

The premium for a lawyer policy often depends on various factors, such as the insured amount, your annual turnover, annual salary, the type of advice or office occupancy.

1. Acceptance. The insurer HDI of the lawyer insurance may ultimately deviate from the stated premium when applying for Lawyer Insurance. In most cases we expect positively.
2. Premium term. If you choose a different premium term (4% quarterly or 3% every six months), you will receive a small premium surcharge on the lawyer insurance premium because the premium is received by the insurer later than the usual annual payment.
3. Cost. Annual policy costs of € 12.50 are allocated to the insurance.
4. Insurance tax. The premium is exclusive of 21% insurance tax.

A couple important benefits of HDI Global

HDI Global Specialty has been a specialist in the field of professional liability insurance for years. Their thorough knowledge allows them to tailor the insurance to specific occupational risks. In this way they arrive at a ’tailor-made’ insurance policy. Why choose our professional liability insurance:

• Full claims made for errors in accordance with Article 2 2;
• Unique coverage for liability resulting from cyber incidents in accordance with Article 2.1;
• Coverage for liability for damage to subordinates relating to cyber incidents in accordance with Article 1.2 (and 2.1);
• Broad circle of insured persons (including coverage for former insured persons) in accordance with Article 1.6;
• Irrevocable offer to extend in accordance with Article 2.5;
• Broad jurisdiction in accordance with Article 3;
• Special arrangement for fines agreed in writing in accordance with Article 4.7;
• Special arrangement in the event of unpaid or recovered fees in accordance with Article 4.15;
• Coverage for binding advice by the Automation Disputes Body in accordance with Article 6.1.1.
• Generous reimbursement of costs. Such as costs for attendance at legal proceedings in accordance with Article 7.2.6;
• Reduction of deductible upon settlement in accordance with Article 7.4;
• Notice period of one month after 12 months in accordance with Article 10.3.

They provide customization. Your insurance contract may contain other provisions. The general terms and conditions, special terms and conditions and any clauses determine the scope of the cover.

Costs of defense lawyer insurance in civil and/or arbitration proceedings

The reasonable costs of defense in civil proceedings and/or in arbitration proceedings conducted at the request of, with the consent of or with the knowledge of insurers, including the legal costs which the insured is ordered to pay.

Claims settlement costs

The claim settlement costs, such as expertise costs, incurred by or on behalf of insurers or by third parties engaged with the prior approval of insurers.

Defense costs in criminal and/or disciplinary proceedings

The costs of defending criminal proceedings and/or disciplinary proceedings brought against an insured person, if and insofar as (the outcome of) such proceedings can, in the opinion of insurers, partly determine an insured interest under the insurance. Insurers must have given prior permission for the reimbursement of these costs.

Rescue costs

The rescue costs if and insofar as the insurance provides cover for the damage (if it had occurred) and an insured person is (would be) liable for this damage.

Reconstruction costs in a lawyer’s insurance

The costs incurred following a claim with the insurer’s prior consent to reconstruct destroyed, damaged or missing documents and other papers, deeds, (data on) information carriers and the like entrusted to the insured in connection with an assignment.

Costs of attendance at legal proceedings

The costs incurred by the insured if he/she is present at a legal procedure, arbitration procedure or alternative dispute resolution with the insurer’s prior consent. Insurers will reimburse a maximum of EUR 200.00 per procedure per day that an insured person is present at the hearing. Costs incurred by the insured party related to the preparation of the hearing are not eligible for reimbursement.

The costs referred to in Article 7.2.1 to Article 7.2.6 will be reimbursed without deducting the deductible.

Fixed premium for 3 years

The premium for this insurance is a fixed premium if the annual premium does not exceed € 1,500. The insurer has the right to request (subsequent settlement) data once every three years. After the end of the contract year for which the request is made, the premium for this insurance will be redetermined for the next three-year period on the basis of the information provided in writing by the policyholder. There will be no subsequent settlement for the elapsed period.

Deductible professional liability lawyer insurance

1. € 2,500.00 or € 1,000.00 per insurance claim
2. € 500.00 per claim for reconstruction costs in accordance with clause C2.11.4
3. € 500.00 per claim for property damage in accordance with clause C2.11.5

Corporate liability deductible

€125.00 per claim for property damage

Difference between Professional Liability Insurance and Business Liability Lawyer Insurance

1. Professional liability
   1. Asset damage. This is financial damage caused by mistakes that someone makes in the exercise of their profession. It is insured by a Lawyer insurance.
2. Business liability (wiki) 
   1. Personal injury. Injury or impairment of the health of persons, whether or not resulting in death, including any resulting damage.
   2. Property damage. Damage, destruction or loss of goods, as well as the contamination or soiling of goods and the presence of foreign substances on or in them, including the resulting damage.

De vergelijking advocaat verzekering

We assess an insurance policy and the insurers on the following points:

1. Premium
2. Deductible amount
3. Policy costs
4. Claims handling
5. Industry knowledge and conditions
6. Evening and weekend service

The outcome of our monthly comparisons of a lawyer or law firm insurance policy results in a proposal for an insurance policy that, based on our knowledge and experience, gives the best price/quality ratio. Do you have any tips or other insights? we would appreciate your opinion. We will incorporate that information into our comparative statement for subsequent comparisons.

The lawyer insurance comparison

• Premium direct online for Laywers
• Major professional liability risk insurers are
  • Allianz
  • Aegon,
  • AIG
  • HDI-Global,
  • Centraal Beheer,
  • Goudse,
  • Markel

Policy costs and insurer’s profit markup

Every insurer applies a cost and profit surcharge. These policy costs and the premium for lawyer insurance may vary annually and depend on the number of national damage claims and the forecast of expected claims and additional costs. Your own claim for damages has no consequences for the amount of your personal follow-up premium. The stated premium for insurance always includes all costs. We only compare reputable insurers with a good track record and a stable premium and conditions level.

Association of insurers damage and statistics info

Our income lawyer insurance

Our income amounts to a fixed percentage of 20% of the premium without insurance tax. This percentage is in line with the market and is intended for activities such as application, management, control and claims handling. The lawyer insurance premium mentioned always includes this commission surcharge. We are independent of insurers and have no turnover obligations or specific commission agreements.

Is a lawyer insurance mandatory?

This insurance is mandatory for a lawyer. So not for every profession. The requirements can be found in the Order regulations. This is an obligation when comparing insurance with a lawyer.

Article 6.24 Professional liability insurance NOvA

1. The lawyer is adequately insured with a lawyer’s insurance against the risk of his professional liability.
2. The first paragraph does not apply to the risk that a lawyer who practices in his employ causes damage to his employer, insofar as the employer indemnifies him in writing in advance against this damage. In that case, the lawyer who practices the practice remains obliged to take out liability insurance for damage caused as a lawyer to third parties.
3. The first paragraph does not apply to the risk that a lawyer who practices in his employ causes damage to third parties, if the employer is the State and the employer indemnifies the lawyer for this in writing in advance in accordance with the model referred to in the fifth paragraph.
4. The lawyer enters into insurance with an insurer who is likely to meet reasonable solvency requirements.
5. The general council shall establish a model of the indemnification and, in the event of changes to that model, may determine when existing indemnities must be adjusted.

Professional association and entry and exit obligation NOvA

The conditions of many professional associations require the insuring of such an entry and exit obligation. They will even impose special requirements on the coverage and conditions under which such a lawyer insurance is taken out. There is – in accordance with NOvA and Voda requirements – the possibility of an overrun risk. Of course, that choice only has to be actually made at the end.

What liability is excluded?

The following liabilities are not insured for the coverage under a lawyer’s insurance policy:

1. Directors’ liability
2. General liability
3. Employer’s liability
4. Product liability
5. Environmental liability