Umbrella Companies

[TOSH2]

Hi

I have been offered a contract starting next month which is inside IR35. I have been previously using JSA/Workwell and been happy with them.

The new contract states that I have to an Umbrella Company that has £10 million indemnity insurance and I am having issues locating one that has this amount of indemnity insurance and is FCSA accredited and based in the UK.

I have been put in touch with 2 other Umbrella Companies who claim to have this amount as insurance but are based in the Isle of Man and also claim to offer me 80% take home pay. I have researched and need to stay away from these companies.

Does anyone know of any Umbrella Companies that offer the £10 million Indemnity Insurance, FCSA accredited and are based in the UK.

I have tried Workwell, Giant, Churchill Knights, Parasol

Regards

TOSH2

[GregRickshaw]

That's an awfully high insurance!

I would have gone for the big ones you listed the only other one who might offer that much would be Brookson

[northernladuk]

10 mil sounds like any old number has been put on the contract with little thought. If the client is advertising the role as inside then they are screwing themselves over here. I think it would be worth getting the info you have gathered and go back to them and point out their own PI levels aren't fit for the way they are resourcing i.e. inside.

Hopefully they'll realise that forcing you inside but for 10m just insn't feasible and re-think it.

I'd be going to Lucy at Clarity umbrella and seeing if she can speak to the client on your behalf and explain the limitations of PI via an umbrella and that 10m is way over industry standard.

[northernladuk]

P.S. WE do have sub forum dedicated to umbrella questions. Just saying like

[PCTNN]

You should tell the client that you are struggling to find a reputable umbrella that satisfy the contract's clauses and maybe if they're so fussy about umbrellas they should be the one providing a list to choose from.

[Guy Incognito]

You should tell the client that you are struggling to find a reputable umbrella that satisfy the contract's clauses and maybe if they're so fussy about umbrellas they should be the one providing a list to choose from.

Disagree here. Being given a list has to be worse then being allowed to go to market?

[hobnob]

Being given a list has to be worse then being allowed to go to market?

I think there's a compromise:
"You must use an umbrella with £X of indemnity insurance. Here are 3 which meet the requirements, but feel free to use a different one if you can find it."

[PCTNN]

Disagree here. Being given a list has to be worse then being allowed to go to market?

According to OP there is none on the market that satisfy the client's requirements, or at least OP hasn't found one yet despite extensive research. So why does it have to be the contractor's responsibility to find a suitable option when the client has such specific requirements?

[ladymuck]

Is the contract direct with the client or with an agency? It would be good to know where the requirement has come from: is this lazy agency not updating contracts properly for inside work, or a genuine client requirement that's built into the overarching contract they hold with the agency?