Contractors Insurance cover

**boxman** · 31 July 2007, 11:00

Hi

Suggestions:

1. PCGPlus insurance £220 + VAT (tax investigation insurance) www.pcg.org.uk

2. Randell Dorling PI/PL/EL package (special deal for PCG members) www.randelldorling.co.uk

3. [Optional]: Qdos Consulting TLC35 (IR35 penalties/interest cover) http://www.qdosconsulting.com/qdosma...e=dm5xc48qvv4r

There are other deals around but I'd start at the PCG personally.

regards

Rob

**MickeyP** · 31 July 2007, 12:30

With regards to the PCGplus insurance I notice that you can purchase insurance for "additional fee earners" at £310+VAT

If a 50% shareholding wife were to be employed albeit with a very low salary would you need this extra insurance?

Sorry to hijack the post!

**malvolio** · 31 July 2007, 12:36

Originally posted by MickeyP

With regards to the PCGplus insurance I notice that you can purchase insurance for "additional fee earners" at £310+VAT

If a 50% shareholding wife were to be employed albeit with a very low salary would you need this extra insurance?

Sorry to hijack the post!

Probably not, since an aspect enquiry would focus on the main fee earner. However, if you have a setup where there are two equal fee-earners, you can get the discounted rate for the second one.

**MickeyP** · 31 July 2007, 12:48

If a 2nd person had 50% shareholding then that person will receive 50% of the dividends paid. I presume this would make that person an equal fee earner?

Could you clarify about the discounted rate? I don't see any mention on the PCG website?

**Crossroads** · 31 July 2007, 12:59

Originally posted by MickeyP

If a 2nd person had 50% shareholding then that person will receive 50% of the dividends paid. I presume this would make that person an equal fee earner?

Could you clarify about the discounted rate? I don't see any mention on the PCG website?

No, that person is EARNING - i.e. sent on billable work by their employer.

**MickeyP** · 31 July 2007, 13:04

Cheers. Roger and out.

**sathyaram_s** · 31 July 2007, 13:21

Do you need 1m PI cover ? What does your contract say ? Unless you are doing very high profile work or you are responsible for the whole deliverable, you are unlikely to be successfully sued for a million, IMHO ... So, you might as well go for a lower cover if the contract doesn't specify 1 m ...

Legal expenses covers what PCG Standard membership insurance covers. So, if you intend to join PCG, you can exclude it ... I'm not sure if you need H&S cover at all ..

If you intend to join PCG, for the first year or two, you do not need PCGPlus cover ... PCG Standard willl be good enough ...

Originally posted by JulesG

Hi All,

In the process of getting insurance cover does the following quote look sufficient have no idea how much to be insured for?!?!?

Quick Quote
Click here to read the FAQ's

Press for Further Help & Assistance.

Profession IT/Computer Contractors

Turnover £50,001 - £100,000
Number of Employees 1
Level Of CoverProfessional Indemnity Policy £1,000,000
Business Combined Policy Quote Required
Office Contents £5,000
Business Interruption £2,500
Employers Liability £5,000,000
Public Liability £1,000,000
Include Manual Work No

Include Offshore Work Not Required
PA, Sickness & Travel Policy Quote Required
Accidental Death & Permanent Disability £60,000
Accidental Temporary Total Disablement £400.00
Sickness Extension Required No
Travel Cover Business Travel

Legal Expenses £50,000
Health & Safety Policy Quote Required
Price Indication
Professional Indemnity Insurance £ 370.00
Business & Liability Insurance £ 112.00
PA, Sickness & Travel Insurance £ 174.25
Legal Expenses Insurance £ 75.00
Health & Safety Policy £25.00

Total Cost of Policies £756.25

Thanks for any advice ...

**boxman** · 31 July 2007, 13:29

Yup I agree about PI cover level.

Randell Dorling's PCG cover is £100k plus £2m shared which should be more than enough. A recent client asked for £1m (non-shared) so I said not a problem but you'll have to pay for the additional £900,000. Not surprisingly they decided that the RD/PCG cover was sufficient after all.

**tay** · 31 July 2007, 14:16

My agency asked me to get it, apparently the client was insisting on it, talked to the client and they said the agent was talking rubbish. So told the agent I was refusing to get it and if necessary the client could terminate my contract.....

The agent paid for my insurance

Contractors Insurance cover