PI / EL / IR35/legal insurance?

**Tingles** · 15 May 2008, 14:44

Try QDOS....

Look on their site - online quote

T

**chris79** · 15 May 2008, 15:18

Hmm, just tried QDOS - the quote was quite a bit cheaper but noticed this at the bottom in their T&Cs:-

Please note: This is a claims-made policy and not a claims-occurring policy. If a potential claim develops at a time where your Policy is suspended your claim would not be covered by Qdos and you would be liable for the full amount that would have otherwise been covered by your insurance policy. Qdos best advises you to continue cover and discourages you from suspending your Policy even if you are not currently on contract or between contracts. We recommend that you continue cover until you cease trading. If you suspend cover and a claim develops whilst you are not paying premium by monthly instalments your claim would not be covered.

In other words to keep cover you need to keep paying. The policy I have through here costs a little more but covers for the work done, even when the policy has finished.

DECISIONS DECISIONS.

**chris79** · 15 May 2008, 15:20

Just a question here, but supposing I stop trading for a while, say 18 months and client A decides to sue my ass and I have no cover in place. What would be the consequences here? Would they be entitled to anything my company had, i.e. positive credit and assets? (Which at the point this happened wouldn't be a great deal)?

Maybe it's just worth buying the cheaper cover on the basis I'll either always need cover whilst trading, or when I'm not trading they can take the few hundred quid sitting the business account?

**malvolio** · 15 May 2008, 17:02

Originally posted by chris79 View Post

Well my insurance is due for renewal fairly soon, someone suggested I try PCG but having checked it out it would seem to get a quote or to even see what they have to offer I need to be a member (in my case £180 as I have 2 fee earners in my company).

Does anyone know roughly how much £2mill PI would cost through them? Trying to work out if it's cheaper to join them and get the benefits they offer, than to stick with who I'm already with.. my current pack is £2mill, PL, legal cover (inc IR35 etc), and is costing me approx £450.

Thanks.

You don't get a quote for IR35 insurance from the PCG since it's bundled in the membership. In fact the basic membership package would cost you around £400 bought separately and not counting the assorted product and service discounts. That insurance, incidentally, is for all contracts as long as you're a member, without qualifications or reviews.

Go PCGPlus (£310 for two) and you get around £750 of extras including better investigation insurance (all aspect enquiries, not just IR35), agency failure insurance (limited but useful) and Jury Service cover thrown in. Way more sensible option...

They also don't do the PI/ELI/PLI set - we're a trade organisation, not an insurance company after all - so that's a discounted offer for PCG members from Randell Dorling. £1m costs me £190 a year, £2m probably somewhat more (but do you really need that much?)

**Hex** · 16 May 2008, 09:34

Randall Dorling PI is also on a Date Claims Made basis if that helps. Mine is about £210 for EL/PL & PI, but this is just for 100K of PI. In addition you get a shared layer of PI for 1M which all PCG members share. I think this has two reinstatements, so that 2 members could claim for up to 1M each in a year. After this there would be no shared cover left for that year.

I'm OK with the shared cover as I thnk the likelihood of it being available should I need it is high, but it's not really as good as having your own 1M.

**pisces** · 16 May 2008, 21:20

If QDOS offer to cover you, then you don't need cover.

PI / EL / IR35/legal insurance?