Financial Loss Cover
Compensates financial loss caused to a third party by the company’s operations.Prepare against financial liability risks
Financial Loss Cover provides cover against financial losses caused by your company or employee to a third party that are not connected to bodily injury or material damage.
Professionals at your assistance in case of loss
While you focus on your core business, we will investigate your company’s liability and negotiate with the injured party if necessary.
Includes cover for legal expenses
In addition to financial losses, the insurance also compensates the customer’s investigation and legal expenses that arise from the claim.
For whom is Financial Loss Cover intended?
Financial Loss Cover is ideal for companies that may cause losses mainly of a purely financial nature. Such companies include, for example:
- attorney and law firms
- accounting and bookkeeping firms
- real estate brokers, and
- property management firms.
Protect your business financially against claims for damages. For instance, an accounting firm may cause significant financial losses to a client as the result of an accounting error. The insurance covers, up to the sum insured entered in the policy document, financial losses caused to a third party and not related to bodily injury or material damage.
Why is financial loss cover useful?
In general, the purpose of liability insurance is to cover the company’s liability for damages caused to third parties. A basic form of liability insurance for any company is business liability insurance, but this does not cover financial losses. If the damage caused by a company’s operations is mainly in the form of financial losses, the cover afforded by business liability insurance against the losses typical to the company is very limited.
Financial loss cover, in turn, covers purely financial losses and liabilities that arise from a contract. With business liability insurance, it provides comprehensive insurance cover.
In the event of loss, you will be assisted by Pohjola Insurance experts, who will investigate whether a liability exists and what the amount of damage is. This frees up your company’s resources for your core business and allows you to focus on the essential while we negotiate with the party demanding damages. If the claim is disputed and taken to court, your liability insurance will also cover the legal expenses of the proceedings.
