Professional liability insurance

Professional liability insurance covers the indemnities that must be paid as a result of professional liability for damage caused in its exercise, which will be paid by the insurer in exchange for the payment of a premium and in accordance with the conditions and limits of the contract signed.

Law 7/2006, of 31 May, on the exercise of qualified professions and professional associations, provides that “qualified professionals have the duty to cover through insurance the risks of liability that they may incur due to the exercise of their profession ”. This is a legal obligation that affects industrial technical engineers as service providers who present a direct and specific risk to the health, safety and property of the recipients or third parties and must be appropriate to the nature and scope of risk.

There may be some exceptions to the fulfillment of the obligation to have insurance, such as professionals whose professional activity is carried out exclusively as a self-employed person who already has insurance for the risks of the activity that includes the exercise of the profession. It is recommended, however, that the engineer with an employment relationship know the coverages of your company and your insurance by checking the conditions.

However, it is advisable for them to have insurance as well since, even if the employer is directly responsible for the actions of their workers, this would not exempt them in some cases from their liability; and the company or its insurer could pass on to the worker the amount of the claim that it has been obliged to satisfy. In addition, if the company disappears, the injured party will only have as a reference, at the time of claiming, the professional who carried out the action generating the damage or injury.

The Law stipulates that "in the case of professional associations, professional associations must take the necessary measures to promote and facilitate sufficient compliance with the insurance duty of their members". The Association provides this service to its members and therefore has contracted insurance with sufficient and proven coverage with the insurance company MAPFRE.

The member may choose the insurance that suits him best, but the College's insurance has significant advantages in relation to those that can be obtained in the market.