Prof Indemnity insurance stipulation

[GillsMan]

Its so typical as well now that you are in place before contracts are signed "conveniently" to asses how you are. Its part of the game of being a contractor the highs and lows. In this case its quite a minor thing, try and see what you can get but don't pay out trying to get. You should be able to do anything a solicitor can do.

Just because we tend to think legal doesnt mean we can ourselves enforce laws - just that they know the practice. You could do some research yourself and even act as your own legal team. Right is might and the law is the law unless their soliciter is bigger and there is ambiguity and you took sugar in your tea that day.

Come again?

[SueEllen]

Come again?

Just a long winded way of saying in lots of legal cases you can defend yourself.

I know people who have got screwed by lawyers they chose to represent them simply because they didn't bother to read up/become knowledgeable on their own case themselves.

[Boo]

Simples.

Will you kindly stop saying that.

Boo

[GillsMan]

Will you kindly stop saying that.

Boo

On that note, you realise you don't have to sign your name after every post, as your name is clearly displayed next to your post, right?

GillsMan.

[Boo]

On that note, you realise you don't have to sign your name after every post, as your name is clearly displayed next to your post, right?

Right, but I prefer to see the names as I read directly down the page rather than having to scan the leftmost column for every post.

Boo

[kryten22uk]

My agency contract also stipulates PI cover, and I had a phone argument with them about it (and lost). Its all the more prevalent for my niche, where the PI cover costs £2k, and there is only one insurer (a Lloyds syndicate) who will insure my profession, so they have an entire monopoly on the rates.

[Ignis Fatuus]

Indemnity for Co or person?

There is a lot of failure to distinguish Ltd Co and person here.

Your Ltd Co signs the contract and provides the services. If it is at fault then it may be sued, but its liability is limited, after all.

Only in a few circumstances (tax evasion, fraud, i.e. criminal offences not civil liabilities) can any action go "through" the Ltd Co to the directors, and in even fewer cases to employees. ISTM that in those cases PI would not imdemnify the individual anyway.

So if by mistake you as an employee cause your Ltd Co to fail in its contractual duty to its client, then the client would have an extremely hard time suing you for it.

We never used to have it, some agent thought it up and now neither contractors nor agents have the backbone to say No, it's not necessary.

[craig1]

I got a nice contract two years ago because of PI insurance. I didn't originally get the contract as the guy selected had more industry experience; the client made a condition of PI insurance prior to start and he refused to get it. The agent asked me if I had any concerns over getting insurance, I said no and was immediately offered the role pending proof that I'd acquired it in my company's name with a minimum of £1m cover at a reputable insurer. For the sake of a £450 insurance policy (specialised risks on the project made it a little bit more expensive), I secured a 12 month contract at £550 a day.

It was a shrug shoulder time and just bear the cost.