Tried search but it shows up threads regarding just "Indemnity insurance" - it seems that UK insurers exclude USA/Canada, has anyone got any pointers to insurer that covers those regions, perhaps best to use US based insurer? Any tips will be appreciated.
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PI for the USA is a bit of a nightmare for UK contractors. Insurers are obviously mindful of the fact that the US society is somewhat litigious and this is reflected in premiums.
Most underwriters will probably offer terms, but the premium is likely to be fairly hefty (i.e. in the thousands) even for a standard IT contractor.
I think the first thing to do is double check that the contract actually falls under US jurisdiction. A US based insurer may be worth a punt, although the fact that you (presumably) are using a UK company may cause a problem.
PM me if you need any assistance with this.Qdos Contractor - IR35 experts -
I need insurance in connection with license deal that I am in discussions with a US based client - they'd like Infringement Indemnity for intellectual property that is licensed them. I don't really want to approach US insurer for that as company is UK based and I'd rather deal with local insurer, I appreciate premiums will be harder but I need to look at options.Originally posted by Qdos Consulting View Post
The contract is mine (written by professional law firm here in UK) and it specifies UK jurisdiction.Comment
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I've got US cover, cost me just over 2k through PI Hammond.Comment
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Thanks Manic, will have a look at those!Comment
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Advice from a broker...
From our experience of covering our clients most insurers will cover the US, but you are right - the premium can increase quite dramatically.
It would be worth approaching a broker who could dive into the market for you and find the best cover and the best premium... a broker should be able to sort this all for you.
I hope this offers a little ray of light for you?
VickyComment
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