Voluntary insurance
Professional liability insurance for companies
A calculation error, a missed deadline, wrong advice or a leak of client documents can lead to a large claim. A professional liability policy covers such damage up to the limit and helps the company protect its money, reputation and client relationships. Insurance Center compares offers from licensed insurance companies in Kazakhstan and helps you choose terms that fit your business.
Who needs this policy
Professional liability insurance suits organisations that provide services based on specialist knowledge and are accountable to clients for the results of their work. For most activities it is a voluntary product, but clients increasingly require it in tenders and contracts.
- design, engineering and construction companies, technical supervision;
- consulting, law and accounting firms;
- appraisers, IT integrators and software developers;
- medical organisations, logistics and service companies;
- any legal entity whose partner requires a policy as a condition.
Why a company needs this policy
Even an experienced team is not immune to human error. A single inaccuracy in design documents, a missed tax deadline or a failure in an implemented system can lead to a claim comparable to a small firm's annual profit. Without a policy, the company pays such amounts out of its own pocket, and a court dispute distracts management from core business.
Insurance lets you limit the financial consequences of mistakes in advance: the company pays a known premium, and the risk of a large claim within the limit passes to the insurer. A policy also builds client trust and helps meet the terms of tenders and contracts with major clients, where contractor liability insurance is often a mandatory requirement. For consulting and design companies it is also an argument in negotiations: the client sees that possible losses will be compensated.
What the policy covers
The calculator on the Insurance Center website offers two coverage blocks. You can combine them so that the protection matches the company's real risks.
Civil liability to third parties
- harm to the life and health of other people while providing services;
- damage to or loss of third-party property;
- reasonable defence costs against a claim, if provided for by the contract.
Professional errors
- the client's financial losses caused by an error, omission or negligence of employees;
- missed deadlines and inaccuracies in documents;
- wrong advice and calculations that caused damage to the client.
As a rule, the policy does not cover intentional acts, fines and penalties, claims arising from events known before the insurance started, or work performed without the required licence or permit. The exact list of exclusions is set out in the insurance rules of the specific company.
Sum insured and cost
For voluntary insurance the law does not set a minimum limit, so the company chooses it itself. Useful benchmarks are the size of a typical client contract, tender requirements and the possible scale of damage. In the calculator you enter the liability limit in tenge and tick the risks you need, then get a preliminary estimate.
The final premium depends on the type of activity, revenue, experience, claims history, the deductible and any separate per-event limits. The insurer sets the final price after reviewing the application form.
Please note: many policies work on a "claims-made" basis. This means that a claim is covered if it is made while the contract is in force. Check the retroactive date and the period after the policy ends during which a claim can still be reported.
What to check in the contract
- the definition of professional activity: it must match what the company actually does;
- the aggregate limit and the limit per insured event;
- the deductible amount and how it applies;
- whether legal costs are included and up to what limit;
- the territory of cover and the governing law;
- the requirements for notifying the insurer of a claim.
How to get a policy
Online quote
Enter the liability limit and select the risks in the Insurance Center calculator to get an indicative price.
Compare offers
We request terms from several insurance companies and show you the differences in coverage, exclusions and price.
Sign and pay
You choose an option, fill in the application form, sign the contract and pay the premium by bank transfer.
What to do in an insured event
- Record the claim from the client or third party in writing.
- Do not admit fault or promise compensation without the insurer's approval.
- Notify the insurance company within the period set in the contract.
- Collect the client contract, correspondence, acts and documents confirming the amount of damage.
- Agree the settlement position with the insurer and obtain a payout decision.
This material is for reference only; final terms are determined by the insurance rules and the contract.
How Insurance Center helps
Insurance Center Insurance Center works as an insurance agency: we collect offers from licensed insurers, explain the differences in terms and support the company during claims settlement. Get a quote in the calculator or call +7 727 225 40-40.
