One Consulting Error. €500,000 in Damages. Who Pays?
When a Consulting Error Costs Millions
Typical Claim Scenarios
Advice Error
A tax advisor misses a deadline — the client suffers a five-figure loss.
Software Error
A bug in the business software causes an operational interruption for the client.
Planning Error
An architect miscalculates the structural load — costly remediation required.
Data Loss
Accidental deletion of customer data leads to business interruption.
What the Insurance Covers
Compensation for Damages
Coverage of justified third-party claims for damages.
Defense Against Unjustified Claims
Passive legal protection — the insurer defends against unfounded claims.
Contractual Damages
Damages arising from the breach of contractual obligations (depending on the tariff).
Cyber Coverage
Financial losses resulting from IT security incidents (available as an extension).
Missed Deadlines
Protection against financial losses caused by missed deadlines, appointments, or reporting obligations.
Extended Liability (Run-Off Cover)
Insurance coverage for damages arising from the period before the contract ends — important when completing projects.
Which Industries?
IT & Software Development
Liability for software errors, data loss, and system failures.
Consulting & Advisory
Management consultants, tax advisors, auditors.
Architecture & Engineering
Planning errors, construction delays, cost overruns.
Brokers & Intermediaries
Insurance brokers, real estate agents, financial advisors.
What is covered?
Versichert
- Pure financial losses without prior personal injury or property damage
- Erroneous advice, expert opinions, and planning
- Breach of contractual obligations and deadlines
- Loss of documents and files
- Violations of data protection regulations
- Legal defense costs
- Extended liability coverage after cessation of activities
- Subsidiary coverage for employed specialists
Nicht versichert
- Intentional breaches of duty
- Claims arising from employment relationships
- Warranty and guarantee claims
- Contractual penalties and fines
- Personal injury and property damage (→ Public Liability Insurance)
- Insolvency of the policyholder
How We Protect You
Capture Activity Profile
What services do you provide? What liability risks exist?
Create Coverage Concept
Tailored coverage for your industry and your revenue.
Market Comparison
Specialist insurers for financial loss in direct comparison.
Contract Design
Optimal terms with clear coverage limits.
Frequently Asked Questions
Request Consultation
Free and non-binding — we will get back to you within 24 hours.
Protect Against Financial Losses
We find the right professional indemnity insurance for your industry.