Adequate Level of Professional Indemnity Insurance

[dangly]

Got a contract all signed and good to go, starting at the beginning of Jan.

Just looking to get the necessary level of Professional Indemnity Insurance, however the limit Hiscox go to (as an off the shelf product) is £1m - my agency has a section in the contract which states 'Insurance Limit: £5m'.

I've asked my agent to clarify exactly what this means, and whether I need to have PII at this level (it seems a bit high). I'm interested to know what you folks think would be an 'adequate' level: I'm going to be doing standard (.Net based) enterprise development, architect stuff, nothing complicated.

Any advice appreciated.

[syn]

Got a contract all signed and good to go, starting at the beginning of Jan.

Just looking to get the necessary level of Professional Indemnity Insurance, however the limit Hiscox go to (as an off the shelf product) is £1m - my agency has a section in the contract which states 'Insurance Limit: £5m'.

I've asked my agent to clarify exactly what this means, and whether I need to have PII at this level (it seems a bit high). I'm interested to know what you folks think would be an 'adequate' level: I'm going to be doing standard (.Net based) enterprise development, architect stuff, nothing complicated.

Any advice appreciated.

I think the word "limit" may come into play here. In which case £1m would be fine. Or have I got it tits-up?

[Gary_Jones]

If its written in a contact as a limit stipulated by the client, then I'd say that is what they wanted as a minimum.

[BrowneIssue]

a section in the contract which states 'Insurance Limit: £5m'.

My Elan contract stipulated £10m (plus some other stuff that I don't need). Had no choice but upgrade accordingly. JFDI.

Adhere to the contract. £5m PII doesn't cost much.

[Pondlife]

My Elan contract stipulated £10m (plus some other stuff that I don't need). Had no choice but upgrade accordingly. JFDI.

Adhere to the contract. £5m PII doesn't cost much.

I questioned this (Elan) and had it confirmed/adjusted that only £1M was required and also that access to a shared pot was acceptable.

HTH

[williamdavis]

Hi, any good recommendations for where to get PII? Mine is due to run out early 2008. Always handy to have a quick check around before renewing. Thanks.

[BrowneIssue]

I questioned this (Elan) and had it confirmed/adjusted that only £1M was required and also that access to a shared pot was acceptable.

I was told the opposite on both

[ratewhore]

Try these guys:

www.simplybusiness.co.uk/