Noticias

While many professionals still think that they are only exposed to the traditional risks that their workers or third parties visiting their offices may suffer, but not to the errors or omissions that employees or employers may commit in the exercise of their professional activity, the culture of claims continues to grow in Spain and with it the need for professional liability insurance to cover these risks and guarantee the continuity of any business.

As the market is booming in 2020, these are the main growth factors for Professional Liability Insurance. 

CONSTANT EVOLUTION 

The field of Professional Liability, given the international economic situation and the continuous changes in the environment, has experienced a state of constant evolution in recent years. Potential policyholders are increasingly demanding more complete and sophisticated products that guarantee comprehensive protection for them and their business. The objective is therefore to meet these demands by offering solutions that adapt to current and future trends within the sector. 

NEW NEEDS 

With a labour market in full transformation in which every year new professionals emerge with the need to protect their business according to the characteristics of their activity... (Cybersecurity, LGPD...). Professional Civil Liability insurance must be adapted by offering coverage for any profession. 

In this sense, AYAX responds to these professionals with a specific product with policies that provide cover for more than 400 professions, including technical professions such as architects, engineers, consultants, etc. 

THE ROLE OF THE MEDIATOR

In this cross-selling proposition, the Professional CR policy can be key. 

The involvement of the broker is a pillar in the growth of this branch. Their knowledge and specialisation, and the bond of trust between them and their client, together with the appropriate policy, will be the pillars of the boost that Civil Liability will experience in 2020.

Source: INESE