Given that the Finland is now a service-based economy, the number of entities that provide professional services has risen dramatically.

On the one hand, many more companies and individuals now carry a professional liability exposure and face possible negligence claims.

On the other hand, traditional professions such as law and medicine have greater exposures due to the Finland's spreading compensation culture.

Critical questions you need to consider

• Are you aware of the highest risk activities and projects in your business or practice that may lead to negligence claims?
• Do you need higher limits of indemnity for these activities/projects?
• Do you ensure you have sufficient - and the right kind - of in-house expertise before accepting new projects to avoid spreading yourself too thinly?
• Do you have rigorous contract management procedures in place?
• Do you have an internal system in place to learn from previous professional errors?
• Can you demonstrate progress in your risk controls to underwriters?