Professional Indemnity Insurance £500,000 cover

[jps]

My current agency is requesting that I take out £500,000 PI and £500,000 PL cover. I have been contracting for 5 years in public sector project management roles and this is the first time an agent has asked for evidence of this.

As the requested cover is at the lower end of the scale could anyone please recommend a competitively priced policy? Many thanks in advance.

[Bumfluff]

Hiscoxs is cheap and you can pay monthly, I think I pay £270 for quite a high level of cover.

I'm supprised you have never had PI/PL insurance in 5 years of contracting, all 'businesses' should have it regardless. Imagen you totally screw up costing the client £1mil and then they sue your ltd how your going to pay ?

[QwertyBerty]

Imagen you totally screw up costing the client £1mil and then they sue your ltd how your going to pay ?

Wouldn't the ltdco declare itself bankrupt, the end? They couldn't go after your personal assets. However having a bankrupt company against your name is not desirable...

QB.

[QwertyBerty]

My current agency is requesting that I take out £500,000 PI and £500,000 PL cover. I have been contracting for 5 years in public sector project management roles and this is the first time an agent has asked for evidence of this.

As the requested cover is at the lower end of the scale could anyone please recommend a competitively priced policy? Many thanks in advance.

Qdos are worth looking at.

QB.

[HeliCraig]

Qdos are worth looking at.

QB.

WHS. +1 for QDos.

[stillooking]

I thought it was illegal for a co. not to have p.L. insurance?

[MikeC1408]

Look at Qdos

[Beefy198]

I thought it was illegal for a co. not to have p.L. insurance?

My understanding is no, but I wouldn't go without it. Handy if you throw a client's computer monitor across the room....

Professional liability is good if they decide that you screwed up and cost them money.

If I remember rightly you NEED employer's liability insurance unless you are the sole employee.

I personally wouldn't go without PI or PL, just in case.....

[jps]

Thanks everyone for your views. Hiscox are quoting around £500, Simplybusiness £320 and Qdos £172 - Quite a difference!! Unlikely I know but has anyone had, or know anyone who has, any experience of claiming from one of these policies from Qdos?