Professional Liability Insurance

Whom is the insurance designed for?

The professional liability of legal entities and natural persons is covered up to the sum insured, specified in the insurance contract, against damages caused by them during the performance of the activity in connection with which the insurance contract has been concluded and for which they have the necessary registration and/or legal capacity according to the current Bulgarian legislation. The insurance contract for Professional Liability insurance covers the liability of the INSURED, including the liability of the individuals who represent him, who are employed by him, and to whom the INSURED has assigned performance of an activity and has included them in the insurance contract.

The territorial scope of coverage

This insurance covers the liability of the insured persons for damages caused only on the territory of the Republic of Bulgaria.

What risks are covered by the insurance?

• the amounts which according to the Bulgarian legislation and in case of occurrence of events covered by the terms and conditions of the insurance, the INSURED shall be liable to pay as compensation for death, bodily injuries, illness, or material damage caused to third parties during the period of the insurance in the premises or places where the main or other activity indicated by the INSURED is carried out within the limits agreed under the policy (coverage on the basis of an insured event);
• the amounts which the INSURED is legally liable to pay as compensation for damages or financial losses to third parties, with which the INSURED is in a legal relationship in connection with the performance of its professional activity;
• the expenses incurred by the INSURED to minimize the damages, when he acted with the due care for the case, even if his efforts were unsuccessful;
• fees and court expenses awarded in the compensation case filed by the plaintiff (s), if such compensation is payable under the terms and conditions of the policy.
• loss of profit which is a direct and immediate result of tort;
• interest for the delay;
• loss of profit resulting from the breach of a contractual obligation;
• The INSURER shall pay within the sum insured (limit of indemnity) also the costs awarded in favor of the injured party in legal proceedings against the INSURED for establishing his civil liability if the INSURER is involved in the lawsuit

Why should I take out Professional Liability insurance with Lev Ins?

• Deferred payment of the insurance premium;
• The sum insured is agreed by the insurer and the insured;
• Option to choose the currency, either BGN or EUR.

Important!

The current legislation provides for the obligation to take out compulsory professional liability insurance for the following professions and activities: lawyers, notaries, private enforcement agents, medical practitioners, tour operators, hoteliers and restaurateurs, insurance intermediaries (brokers/agents), security guards, registered auditors, constructors, designers, entities exercising technical control under the "Constructive" part, consultants and entities exercising construction supervision, etc.

Price

The insurance premium is calculated according to the current tariff of the company / reduced with the due discounts /. The insurance premium can be paid as a lump sum or in installments, depending on the client's wish.

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