Asset damage caused by a professional activity must be borne by the entrepreneur or by the self-employed. Therefore, these professional groups bear a high risk, but can secure themselves against claims for damages of the species with a financial loss liability insurance.

In everyday professional life, a mistake can cause high damage, for which the self-employed or entrepreneur can then be held liable. Therefore, the conclusion of a financial loss liability insurance makes sense for many professional groups. Whenever the entrepreneur or the self-employed person has to meet property-based care obligations, a mistake can lead to financial losses, which, in the case of high damages, can also endanger the professional existence of the person concerned and thus lead to financial ruin. As an example for occupational groups in which significant financial losses can occur due to a mistake, there are doctors, architects, tax advisors or lawyers to mention this. However, it is not only in the context of professional, but also in voluntary activities, an erroneous decision can cause damage.

If a financial loss is caused by financial losses, the insurance assumes the liability claims until the agreed sum insured. However, the insurance only pays for financial losses, which are actually justified. For this reason, the scope of insurance usually also includes the defence against unauthorised liability claims, which often integrates a passive legal protection function.