Property damage liability insurance
The financial loss liability insurance is a professional liability insurance for all persons and companies, for which a professional mistake leads to real financial loss - usually not personal or property damage . This mainly applies to those active in the service sector who, for professional reasons, perceive external property interests and act in an advisory, appraisal, auditing, administrative, enforcement, notarizing and / or supervisory role for others. Target groups are, for example, architects , lawyers , tax consultants , notaries , professional supervisors and doctors .
The financial loss liability insurance offers protection against so-called real financial losses. In principle, financial losses are also insured in private liability insurance , but mostly with a significantly lower sum insured than personal injury and property damage, as real financial losses can hardly occur in the private sector as a result of asset management obligations. This is due to the fact that in the private sector, as a rule, only the damage to property or personal injury covered by Section 823, Paragraph 1 of the German Civil Code ( BGB ) occurs ( false financial loss ).
In the insurance industry, therefore, the inclusion of financial losses in private liability has long been controversial. It is different in the case of financial loss liability insurance for professional reasons. This is where real pecuniary losses often occur that can neither be attributed to personal injury nor damage to property, nor are they derived from them. Liability is based, for example, on the violation of contractual duties of care or exclusive rights such as intellectual property ( patent liability insurance ).
The financial loss liability insurance regulates well-founded liability claims and fends off unfounded liability claims. The defense against unjustified claims in the liability area is called the passive legal protection function. The financial loss liability insurance is of considerable practical importance for professional groups with asset-related due diligence (e.g. lawyers, experts, administrators of residential property associations, notaries, auditors), because even an alleged professional mistake can endanger the professional existence of the person concerned.
In property damage liability insurance , one speaks of the infringement principle . This means that financial losses are usually not immediately apparent, but only become apparent after a while. The financial loss liability insurance takes this into account. Insured event here is not the damaging event (occurrence of the financial loss) or the filing of a claim (assertion of the damage by the injured party), but the violation (the professional oversight), which can later lead to liability claims.
literature
- Andrea Aßelborn, Michael Casser: Liability traps for the WEG administrator . 1st edition, Rudolf Haufe Verlag GmbH & Co KG, Augsburg 2008, ISBN 978-3-448-08793-2 , pp. 31-32.
- Marion Zwick: Pecuniary loss liability insurance for insurance brokers . Springer Gabler, Wiesbaden 2014, ISBN 978-3-658-03315-6 .
