Professional third-party civil liability insurance (PCTA)
Professional third-party civil liability insurance protects against unexpected financial costs of not only the service providers but also their clients and other parties, covering costs that could arise due to error or negligence of the service providers.
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Many years of experience in handling large and complex claims.
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Clear and easy-to-understand insurance terms.
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Custom solutions for every company’s needs.
We customise our insurance contract to the needs of every service provider. The basic damage coverage includes direct financial losses, court-ordered third-party court expenses, legal costs, including expert examination and salvage costs.
BALTA offers professional third-party civil liability insurance for real estate brokers, outsourced accountants and construction specialists. Other service providers are welcome to contact BALTA by calling 67522275.
Additional coverage may also be provided for:
- financial losses, including lost profits;
- damage to or destruction of third-party property;
- compensation for damage to the life and health of a third party;
- compensation for non-pecuniary damage;
- damage or destruction of an entrusted document;costs of restoring reputation;
- other losses specific to the service provider, which for an outsourced accountant could be fines imposed by the State Revenue Service, or for a real estate broker, the loss of keys.
- construction specialists;
- sworn auditors;
- sworn notaries;
- sworn advocates;
- surveyors, geodesists;
- pharmacists;
- forest inventory operators;
- occupational safety specialists;
- insolvency administrators;
- professional patent attorneys;
- cash register and cash register system operators and their employees;
- outsourced accountants;
- clinical trial sponsors and researchers;
- credit brokers;
- real estate brokers;
- certification service providers;
- qualified high-security electronic identification service providers;
- providers of single know-your-customer tool service providers;
- payment service providers.
There are professional service providers in Latvia who are not required to take out professional third-party civil liability insurance but choose to do so to protect themselves from unexpected expenses, and to shield their clients from financial loss. These service providers include translators, IT specialists, legal consultants, and physicians.
Claim examples
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An outsourced accountant incorrectly calculates the tax, which leads to the State Revenue Service charging a fine.
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An occupational safety specialist fails to fully brief the workers and point out the risks of the working environment, which leads to an injury among the company’s workers.
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An engineer incorrectly calculates the load-bearing capacity of a building structure, which leads to the structure’s deformation and collapse, causing damage to the property and health of a third party.
Submitting a claim
Regarding events that may give rise to a complaint or claim, or about any complaint or claim raised against the company or its employees, send information about them via e-mail [email protected] or phone 67533375.
Frequently asked questions
It is another party that has suffered damage. The policyholder or the insured party are not the persons to whom the compensation is to be paid.
It is the period after the end of the insurance period during which a third party raises a complaint against the insured party, and the insured party can submit the claim to the insurer.
This is the first written application for the compensation of losses submitted to the insured party by a third party.
- After a potential insured risk or any event arises that could be a potential cause or basis for a complaint or claim against you, do everything you can to prevent or reduce the damage.
- As soon as you can, tell us about the occurrence of a possible insured risk or about any event that could give rise to or form the basis for a complaint or claim against you in the future.
- After the corresponding incident, you must notify us of such even if you do not believe yourself to be responsible for the damage, or if no complaint has been raised against you, or if there are no reports of specific damage and there is no obvious causal link with your actions.
Inform the injured party of the need to contact us to assess the damage.
With the submission of your claim, enclose the following:
- the complaint of the third party;
- a detailed explanation of the circumstances in which the risk occurred;
- documents proving the occurrence and extent of the damage;
- the necessary documents issued by official authorities in charge;
- statements by experts in the corresponding fields regarding the occurrence or consequences of the risk, as well as reports, prosecution office and court documents (if any);
- other documents related to the occurrence or consequences of the possible insured risk.