Professional Liability Insurance in Switzerland

Good day,

I am founding a company and one of the considerations I have is whether or not I should get professional liability insurance and if so, which risks I should cover.

Information about my company:
Company type: GmbH
Number of employees: 1 (initially I will be the only employee of my GmbH)
Sector: Sport, nutrition and fitness (group and private courses)

I would be grateful for any information you can provide.

Best regards

Hi there,

In Switzerland, a difference is often made between professional liability insurance and commercial liability insurance. Commercial liability insurance protects your business against the financial consequences of liability suits. Professional liability insurance normally covers individual professionals against the financial consequences of liability suits.

Professional liability insurance policies are often specialized, with custom policies for engineers, consultants, lawyers, trustees, physiotherapists, doctors and other professionals. Depending on your profession and on the canton in which you practice, you may be required by law to take out professional liability insurance.

Premiums vary widely because of the lack of standardization and the specialized nature of both professional liability insurance and commercial liability insurance. Getting unbinding quotes from multiple insurance providers and comparing offers is recommended. Swiss insurance providers which offer this insurance include Zurich, Generali, Mobiliar, Vaudoise, Allianz and Helvetia, among others.

Before you apply for insurance, take the time to list the exact hazards against which you would like to insure your business or practice. Excluding coverage which you do not need can cut the cost of premiums.

Best regards from Moneyguru

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