Every company that provides services should evaluate the need to insure its liability risks. Service provider are vulnerable to industry-specific risks, which are sometimes very different from the risks faced by manufacturing companies. The question of whether a certain service fully corresponds to the contractually agreed conditions is usually more difficult to clarify than in cases involving the manufacture of a physical product. And so it can happen that even when services are rendered using the utmost care, customer expectations are not met and the customer asserts his alleged claims. This is followed by often protracted and costly legal disputes, which can also have a negative effect on the company's reputation or financial capacity.
Therefore every service provider needs business liability insurance that is tailored to its specific needs. AIG insures a broad range of different industries - a short overview of our target customers is included below. We can also check whether other services can be insured, as long as it is not a service that is listed below but that cannot be insured at the moment. Please contact us – we would be pleased to prepare a solution that is tailored to your needs.
Damage compensation claims against service companies are often the result of general mistakes that are made on the job or that are due due to process failures and simple human error. Therefore in most cases, the damages are not the result of bad advice. Typical errors can occur independent of the activity. The list below shows some common, job-specific examples:
With our ProfessionGuard products, we insure the consulting professions and other service providers against the compensation claims of third parties, for which they can be held liable.
Those who give advice to others enjoy a special measure of trust, but they also carry a lot of responsibility and risk in the case of a claim. Financial loss liability claims can affect everyone. Service companies, independent professionals, volunteers - each activity comes with its own specific liability risks. Therefore we offer customised insurance solutions for these areas.
With Professional Indemnity, we offer individualised and innovative insurance solutions that are tailored to your needs. Feel free to contact us.