Financial loss occurs when damage has been caused to a person’s assets. A distinction is made between two types of financial loss:

• Fictitious financial loss: A financial loss arising as a result of a → Personal injury or property damage has occurred.
• True financial loss: financial loss that is independent of any → Personal injury or property damage has occurred.

Insurance cover against financial loss is provided in the → Public Liability Insurance common. For certain professional groups (e.g. solicitors and notaries), financial loss insurance is compulsory.

Source reference: See the VDT publication “VDT Article Series, Part 5 | Glossary“ and the source cited there.