Insurance Costs

[Ivor1]

Can someone who is a member of the PCG comfirm how much it is for the Professional Indem insurance (£250k) with the Pub Liability (£1 mil) thrown in ?

I've found it for £283, just want to know how much its going to cost in total to sign up to the PCG (standard) and take the insurance, its £141 to join PCG.

[Hex]

Can someone who is a member of the PCG comfirm how much it is for the Professional Indem insurance (£250k) with the Pub Liability (£1 mil) thrown in ?

The PI from Randall Dorling via the PCG that I got gives 100K PI cover by default with an extra £2m shared layer (shared between all PCG members). The EL is £10m and the PL £1m. The cost was £201.60.

[css_jay99]

What does PAYE audit focus on ?

when HRMC carry out these TAX/IR35/PAYE/VAT audits, do you have to take time off your contracts to deal with them or do they turn up at Night. I dont think i can handle beign audited and then having to loose money at the same time !


css_jay99

[Ivor1]

Can someone who is a member of the PCG comfirm how much it is for the Professional Indem insurance (£250k) with the Pub Liability (£1 mil) thrown in ?

The PI from Randall Dorling via the PCG that I got gives 100K PI cover by default with an extra £2m shared layer (shared between all PCG members). The EL is £10m and the PL £1m. The cost was £201.60.

Soz to go back to this but was £201 for both Public Liability and Profes Indem ?

[Pondlife]

Soz to go back to this but was £201 for both Public Liability and Profes Indem ?

Yup, the lot.

[oraclesmith]

There is another thread hereabouts on employer liability insurance. Basically you don't need it if you are on your own - but there may be particular circumstances where it would be handy, for example if you use your substitution clause and you can't be sure your subcontractor is themselves covered. I guess if you don't have it, I guess in theory HRMS may query the validity of the substitution clause, leading to IR35 issues. The thing is, it's usually bundled with the public liability and maybe office equipment etc cover so you may as well have it.

[malvolio]

There is another thread hereabouts on employer liability insurance. Basically you don't need it if you are on your own - but there may be particular circumstances where it would be handy, for example if you use your substitution clause and you can't be sure your subcontractor is themselves covered. I guess if you don't have it, I guess in theory HRMS may query the validity of the substitution clause, leading to IR35 issues. The thing is, it's usually bundled with the public liability and maybe office equipment etc cover so you may as well have it.

The Randell Dorling package through the PCG includes all three and is the cheapest realistic deal out there, so it's a no-brainer. The sub thing is a bit of a red herring though, since you are sub-contracting to the subbie, not employing the subbie, threrfore EI doesn't apply and you can insist he carries his own PI

[oraclesmith]

Subbies - yeah I guess.... but I'm sure a smart claims lawyer will find a way to sue you if he/she has an accident on one of your contracts.

[malvolio]

Perhaps, but if they do, that's what PLI is for - damage to third parties and their posessions.

[Cowboy Bob]

The Randell Dorling package through the PCG includes all three and is the cheapest realistic deal out there, so it's a no-brainer.

They refused to insure me as some of the work I do involves processing money. It's all very well that they're the cheapest, but they have a very narrow definition of what they consider insurable. Ended up having to use the Coulson Pritchard package which is more expensive.