Sunday, 11 December 2016 18:15

Professional Indemnity Insurance

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Why do I need Professional Indemnity Insurance?

Every body makes mistakes and when you are in the financial services industry you might want to consider a professional indemnity insurance to protect your (companies) assets for the damage third parties suffer due to your mistakes. Or a little bit more formal stated: a professional indemnity insurance covers the pure financial loss of third parties caused by wrongful professional acts of the insured in the course of the rendering or failure to render professional services by the insured.

The professional Indemnity Insurance (PII of PI) is also known as professional liability insurance (PLI) or errors and omissions insurance (E&O).

We have created a quick reference guide to guide you through the three basic ways in which you can arrange insurance programs within an international operating company.

You can either view the quick reference online or download it for your convenience.

Download Now!


In most countries companies have their own legal personality (for example based on art. 2:3 BW / Dutch law or part 2 item 15 Companies Act 2006 / “UK law”) and have the capability of holding rights but also obligations as if they where a separate person.

Due to this legal personality companies are able to own assets, enter into contracts, hire employees and preform business in a way where its own liability and the liability of its individual members (shareholders) is separated from each other. The liability of the shareholders is most commonly limited by the amount of the shares or a guarantee.

Although companies have their own legal personality and shareholders have limited liability there is an additional party that can be held accountable namely the directors and officers of the company.

Friday, 04 November 2016 17:04

FIIS explains FINC + IPT

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We have created a quick reference guide to admitted/non-admitted policies, FINC and Insurance Policy Tax (IPT) which will enable you to quickly get a understanding of these items and relation between them.

You can either view the quick reference online or download it for your convenience.

Download Now! 

Website usage / Disclaimer

The objective of this website is to give professionals in the financial institutions industry a place to acquire additional insight about insurance solutions for their companies. For the legal purists (;-)) amongst you, the intention is to explain all subjects as simple as possible and therefor sometimes the text might not be 100% legally correct to get the message more clearly across.  Please note that this website is written from a Dutch point of view and although many legal & insurance subjects will have similar equivalents in other countries/legal systems they might be different. This website does not intend to provide legal advise. You should always consult your own legal consultants in relation to your personal/companies matters.