Notaries’ professional liability insurance is based on Article 18 of Law “On notaries” No 4462-1 as of 11.02.1993 obligating private notaries to conclude insurance agreements. The sum insured shall amount to at least one hundred minimum salary rate amounts.
Professional liability insurance allows notaries protecting their property interests should any damage claims be filed against him/her. This product has been developed in compliance with the insurance rules granted a license and conforms to the effective RF legislation.
Insurance event
An insurance event under the notaries’ liability insurance agreement is the fact of certification of an Insured person’s obligation under the Civil legislation to compensate for the damage caused to the affected party as a result of an unintended mistake caused by the notary during the performance of his duties within the effective period of the insurance agreement.
Insurable risks
The notaries’ liability insurance agreement covers the following risks:
Mistakes in deal certification;
Mistakes when issuing certificates on the title to a share in the conjoint property;
Erroneous certification of copies of documents and extracts from them;
Erroneous certification of signatures’ authenticity in documents;
Mistakes in executive notes;
Erroneous certification of translations’ authenticity;
Mistakes in certificates granting title to legitime;
Mistakes in other notary services.
Our Contacts
If you have any questions or need additional information, please contact:
Financial and professional risks insurance department
