Professional liability insurance

Brief description of the product

Coverage of the material damaged incurred on the third persons by the accounting experts and certified accountants.

Object of insurance

Property interests of the Insured, related to third-party liability set forth in the way stipulated in the effective legislation of the Republic of Moldova, for material damages incurred on the third persons as a result of conduct of accounting activities.

Subject of insurance

Individuals and legal entities conducting the accounting activities in the territory of the Republic of Moldova.

Main risks

Damages incurred on the client through provision of the accounting services:

• For organization, reestablishment and maintenance of accounting records
• For accounting expert examination and tax declaration drafting
• For tax planning and calculation of the payments to the budget
• For consultancy and information servicing related to the problems of the financial and tax legislation
• For development and propagation of the methodological aids and recommendations on accounting, taxation and audit
• For assistance in management, reorganization, liquidation, etc.

Fines, penalties and damages incurred on the clients through the Insured’s fault as a result of undeliberate errors of the Insured, related to conduct of the professional activities.

Amount insured

Sum, which is declared by the Insured upon insurance contract conclusion, which s/he insures his/her professional liability with and within the limits of which the Insurer bears liability insurance.

Insurance premium

0.5% to 3% of the liability limit per contract.

Territory

Republic of Moldova.