Limitation of liability, insurance and guarantee
Under bye-laws 61 and 62 of the Bye-Laws of the Danish Bar and Law Society, all attorneys in Denmark must be covered by a professional indemnity insurance and must provide a guarantee covering any unauthorised use of trust funds. Where a law office is conducted in corporate form, the professional indemnity insurance and the guarantee must also cover the incorporated law office. Also, the professional indemnity insurance must cover all legal services, wherever provided. All attorneys at Advokataktieselskabet Lassen Ricard, Central Business Reg. No. (CVR) 16 72 56 41 (Lassen Ricard), and Lassen Ricard, have taken out professional indemnity insurance and are covered by a guarantee with the Tryg insurance company, policy no. 600-110-294, which meets these requirements.
In accordance with the general rules of Danish law, all attorneys at Lassen Ricard, and Lassen Ricard, are liable for any loss suffered by the client as a result of our services. In our capacity as Danish attorneys we advise on Danish legal matters only.
A client may only bring claims against Lassen Ricard, and not against Lassen Ricard's owners or employees.
Lassen Ricard is not liable for any errors committed by other advisors to whom we have referred the client; also, we are not liable for any errors committed by subcontractors to whom we have, by agreement with the client, delegated parts of the assignment.
Our liability does not cover operating losses, loss of time, loss of profits, loss of goodwill or reputation, or any similar indirect losses. Nor does the liability extend to loss of data.
Our liability is limited to a maximum of DKK 25,000,000 per client per year.