Professional indemnity insurance covers your client's financial loss and your defence costs if a claim is brought against your company or you personally over a professional error, negligence or inaccurate advice.
We insure IT companies, consultants, agencies, accountants, engineers and other professionals. Limits of up to EUR 10 million and even EUR 100 million are available.
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Limits of up to EUR 10 million and even EUR 100 million. We work with an international insurer as well as Latvian insurers, so we can arrange both modest limits and the multi-million limits that international clients and tenders require in contracts.
We offer professional indemnity cover to a wide range of professions:
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Professional indemnity insurance covers losses caused to clients by errors, negligence or inadequate professional services. It is especially important for IT companies, consultants, marketing agencies, accountants and engineers.
Insurance ensures that clients will receive compensation in case of unforeseen errors or losses. This significantly enhances the professional's reputation and reliability.
We tailor the cover and the limit to the risks of your profession and the requirements of your client contracts. If insurance is mandatory in your field, we will help you find out which requirements the policy has to meet.
If a dispute arises with a client, insurance helps cover legal costs, expert assessments, and compensations. This reduces the company's financial burden and long-term risks.
An IT company built an e-commerce platform for a client. After an update, a bug in the payment module stopped orders for three days, and the client claimed lost revenue and the cost of extra work - around €40,000 in total. The policy would cover both the justified claim and the legal defence costs.
A marketing agency set the wrong budget cap in a client's advertising campaign, and the whole quarterly budget was spent within a week with almost no results. The client claimed around €18,000 in damages. The policy would cover the justified claim and help settle the dispute without draining the agency's working capital.
An engineering consultancy prepared the technical specification for a factory's new production line but miscalculated the power of the electric motors. The motors overheated, the line was down for two weeks, and the factory claimed around €60,000 for motor replacement and downtime. The policy would cover the justified claim and the expert assessment costs.
For several months, an outsourced accountant wrongly claimed input VAT in a client's VAT returns. After a State Revenue Service audit, the client had to pay late-payment interest and the cost of correcting the returns - around €12,000 in total. Professional indemnity insurance would cover the client's justified claim and the legal costs.
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We will process your request and send you offers to choose from
You can pay for the selected policy using our convenient payment system
After payment, the policy will be sent to your email. Everything is done remotely
It covers losses arising from professional errors, inaccurate information, negligence, or incorrect consulting that causes financial losses to clients.
It matters to anyone whose mistake or advice can cause a client financial loss: IT companies and developers, business consultants, marketing and design agencies, accountants, real estate agents, engineers, translators and recruitment agencies. Clients often require it in contracts and tenders as well.
Yes, coverage and limits can be adapted to the company's business specifics, risks, and client requirements - in many industries, this is even a mandatory condition for signing contracts.
Usually yes. The policy covers not only compensation to clients but also legal and defence costs.
Yes, the policy typically also covers losses caused by company employees within the scope of professional activities.
Yes, our services are free. We receive compensation from insurers.
General (public) liability insurance covers injury to other people or damage to their property - for example, a visitor slips in your office or an employee damages a client's belongings. Professional indemnity covers a client's financial loss caused by a professional error, negligence or wrong advice, even when nothing is physically damaged. Many businesses need both policies. Read more about general liability on the civil liability insurance for businesses page.
Most professional indemnity policies work on a claims-made basis: the policy covers claims made during the policy period, including claims for earlier mistakes, but not for mistakes made before the retroactive date. The retroactive date is the date from which your professional errors are covered. That is why it is important to keep your cover continuous and, when changing insurer, to keep your existing retroactive date. We check this when comparing offers.
In Latvia, professional liability insurance is mandatory for several professions, for example outsourced accountants (Accounting Law), real estate transaction intermediaries (Cabinet Regulation No. 602), competent institutions and competent specialists in occupational safety (Cabinet Regulation No. 723) and construction specialists (Cabinet Regulation No. 502). The requirements differ: each profession has its own minimum limit, scope of cover and procedure for submitting the policy to the supervisory authority. Before you sign, Agento will help you find out which requirements apply to your business.
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