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Professional indemnity insurance when clients are based in the USA

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    Professional indemnity insurance when clients are based in the USA

    Hi everyone.

    Most of my clients are based in the USA now, and I am finding it almost impossible to find a insurer that will cover me for professional indemnity. My insurance broker told me they will need to go through Lloyds of London, and most likely the premiums are going be stratospheric.

    Has anyone experienced the same situation? Should I go without PI insurance, given that I work through my limited company and thus have limited liability anyway?

    Thanks for any help!

    #2
    Originally posted by seeker7 View Post
    Hi everyone.

    Most of my clients are based in the USA now, and I am finding it almost impossible to find a insurer that will cover me for professional indemnity. My insurance broker told me they will need to go through Lloyds of London, and most likely the premiums are going be stratospheric.

    Has anyone experienced the same situation? Should I go without PI insurance, given that I work through my limited company and thus have limited liability anyway?

    Thanks for any help!
    If you can't afford the PI then you can't afford it. Simples.
    What jurisdiction are your contracts under?
    You might want to try US insurance companies.

    What is the common method used in the USA? It might be different, or PI might not even be expected anyway. And I think it is called errors and omissions (E&O) insurance.
    Last edited by Lance; 11 June 2021, 08:41.
    See You Next Tuesday

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      #3
      Randell Dorling via IPSE was the go to recommendation here in that scenario

      I don't know if it's possible to go direct.
      merely at clientco for the entertainment

      Comment


        #4
        I used Hammond Professional back in the day. Typically premiums were 5/6 times higher than non US.

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          #5
          Originally posted by eek View Post
          Randell Dorling via IPSE was the go to recommendation here in that scenario

          I don't know if it's possible to go direct.
          Yep. Or Kingsbridge, as it turns out (even cheaper, but in roughly the same ballpark of a few hundred quid per year, depending on level of cover). Not sure who underwrites Kingsbridge. For RD/IPSE, it's Hiscox and you need to have IPSE+ cover to access it whereas you don't need anything for Kingsbridge. Other than those two, it's pretty much (at a sensible premium).

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            #6
            Originally posted by seeker7 View Post
            Hi everyone.

            Most of my clients are based in the USA now, and I am finding it almost impossible to find a insurer that will cover me for professional indemnity. My insurance broker told me they will need to go through Lloyds of London, and most likely the premiums are going be stratospheric.

            Has anyone experienced the same situation? Should I go without PI insurance, given that I work through my limited company and thus have limited liability anyway?

            Thanks for any help!

            No, not at all. My client is in USA. And I just rung up QDOS explained the situation and took advantage of their standard insurance.

            The key factor is that it must be UK law and our courts that applies and not US courts. They don't want any claim to go through American bulltulip courts. Also you contract must state our courts have exclusive jurisdiction.

            Comment


              #7
              Originally posted by escapeUK View Post


              No, not at all. My client is in USA. And I just rung up QDOS explained the situation and took advantage of their standard insurance.

              The key factor is that it must be UK law and our courts that applies and not US courts. They don't want any claim to go through American bulltulip courts. Also you contract must state our courts have exclusive jurisdiction.
              Well, yeah, if your contract has UK jurisdiction and governing law of, say, England and Wales. However, it is quite obviously implicit in the OP ("I am finding it almost impossible to find an insurer") that the OP's contract does not have UK jurisdiction and/or governing law of England and Wales.

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