Skip to content
English
Go to striive.com
  • There are no suggestions because the search field is empty.

Insurance for Self-Employed Professionals

Discover which insurance policies are important for self-employed professionals and how Striive helps you arrange the right cover for your assignment.

As a self-employed professional, you are responsible for protecting your business against entrepreneurial risks.

Many clients therefore require appropriate insurance before you can start an assignment.

Having the right insurance protects both you and your business against unexpected financial consequences.

Which insurance policies are important?

The following insurance policies are particularly relevant for self-employed professionals:

  • Professional Liability Insurance (Professional Indemnity Insurance)
  • Public Liability Insurance

Additional insurance options that provide extra protection include:

  • Cyber Insurance
  • Temporary Total Disability (TTD) Insurance

Professional Liability Insurance

Professional Liability Insurance protects you if you make a professional error during your work that causes financial loss to your client.

Examples include:

  • providing incorrect advice;
  • design errors;
  • calculation errors;
  • additional recovery costs incurred by the client.

This insurance is particularly important for consultants, IT professionals, engineers and other knowledge workers.

Public Liability Insurance

Public Liability Insurance protects you if you cause damage to another person's property or cause bodily injury during your work.

For example:

  • you damage a client's equipment;
  • someone is injured because of your activities;
  • you cause damage to third-party property.

Additional insurance

Besides Professional Liability and Public Liability Insurance, there are additional policies that are not mandatory but provide extra peace of mind.

Cyber Insurance

Technology plays a vital role in almost every business. At the same time, the risk of cybercrime continues to increase. Think of hacking, ransomware, data theft or system breaches.

Cyber Insurance protects you against the financial consequences of cyber incidents and provides access to specialist support to minimise the impact.

What is covered?

Depending on your policy, cover may include:

  • recovery of lost or damaged data and software;
  • investigation into the cause and impact of a cyber incident;
  • losses resulting from identity fraud;
  • cyber liability towards third parties;
  • costs incurred to limit the consequences of a cyber incident;
  • reputation management;
  • loss of income caused by a covered cyber incident.

What is not covered?

Cyber Insurance generally does not cover:

  • professional errors or professional liability claims;
  • intellectual property disputes;
  • damage resulting from intentional or reckless behaviour;
  • fines or penalties imposed by regulators or government authorities.

Please refer to the policy terms and conditions for a complete overview of the coverage and exclusions.

Temporary Total Disability (TTD) Insurance

Temporary Total Disability (TTD) Insurance provides financial support if you become temporarily and completely unable to work due to illness or an accident.

If you meet the policy conditions, you may receive a monthly benefit for up to two years.

Included with Premium Career and Excellent

If you use Striive's Premium Career or Excellent package, TTD Insurance is included. You do not pay an additional premium.

How much will I receive?

The benefit depends on:

  • your average turnover through Striive during the three months before becoming disabled;
  • your age.

You will receive:

  • 30% of your average gross income if you are under 65 years old;
  • 15% of your average gross income if you are between 65 and 69 years old.

Benefits are paid for a maximum period of two years.

When am I eligible for benefits?

You may qualify if you:

  • are temporarily 100% unable to work;
  • are unable to perform your work as a result;
  • meet the policy conditions.

Your application will be assessed by an independent medical specialist. After an eight-week waiting period, the first monthly payment will be made if your claim is approved.

How do I arrange my insurance?

Do you use Professional Services?

Together with our partner Alicia Benefits, we make it easy to arrange the insurance that best fits your assignment and professional activities.

Within minutes, you'll have appropriate cover in place, allowing you to focus entirely on your assignment.