Professional Indemnity insurance

[tonibat]

How do you work out how much Public Indemnity cover you need ?

Thanks

[FarmerPalmer]

How do you work out how much Public Indemnity cover you need ?

Thanks

by what it states in your contract, else norm as supplied by standard policy

[BrowneIssue]

Fetches the paperwork...

Dallas Kirkland
www.dallaskirkland.com
Tel: 020 7 480 4180

Employers' Liability ... £10m (far too high I reckon)
Public Liability ........ £1m
Products Liability ...... £1m (what's that for?)
Professional Indemnity .. £1m

Annual premium, including tax: £349:15

(And they rounded the months up so it runs for 12 months and a couple of weeks.)

When it came to renew it last November, the premium had not changed!

I get a discounted rate either as an MBCS, a CITP or, more likely, an MIAP.

[FarmerPalmer]

Apologies for fluffing this thread - I am about to go back to being limited and have been told I need professional indemnity up to £1m.

p1mp recommended http://www.caunceohara.co.uk/ - who seem to charge about £546. http://www.qdosconsulting.com/ seem to charge £132(though I have emailed them to confirm).

anyone else got any recommendations?

thanks

My company was with insured through Caunce O'Hara last year,
and this year it took out a policy with QDOS instead ...
£546 to £132 ... hmmm can't think why !

[kookachoo]

Caunce O'Hara are a total rip off! Never again!!

I saw something on iProfile that had a link to some cheap insurance..

I'm currently with Insurance2day, think it was about £300 all in.

[pattie]

i signed up with an umbrella company with these guys

http://www.antonyjholdsworth.co.uk/executive_portal.asp

all insurances are of course included.


makes life a lot less hassle.

pattie.

[scooterscot]

Has anyone had a situation where they were turned down for PI?

I am potentially looking at a 5 figured premium per annum for the work I need to carry out and it would need to be rolling policy for the next 10 years. Yes ouch.

This is a large UK defence company. They have suggested engaging my company directly, bypassing the agent, so that they can separate me from the 'other contractors' and not have to change their corporate insurance policy.

Thing is I'd be quoting well into a 6-figured sum, they know this. This is a major change from anything the company has provided for before.

How do I begin? How do I begin to gauge what the correct quote should be?

[malvolio]

Has anyone had a situation where they were turned down for PI?

I am potentially looking at a 5 figured premium per annum for the work I need to carry out and it would need to be rolling policy for the next 10 years. Yes ouch.

This is a large UK defence company. They have suggested engaging my company directly, bypassing the agent, so that they can separate me from the 'other contractors' and not have to change their corporate insurance policy.

Thing is I'd be quoting well into a 6-figured sum, they know this. This is a major change from anything the company has provided for before.

How do I begin? How do I begin to gauge what the correct quote should be?

If they are demanding it to cover their own risks on a direct contract, I suggest you simply add the cost to your charges. It is a cost of sales and you wouldn't be spending it otherwise, so it's legitimate to charge on, if not the whole amount, then certainly the difference between your normal cost and the new one.

[scooterscot]

Oh sheet sheet sheet it's happening.

The client has returned, a SOW is being drafted... This is the largest [in terms of cost] job I've ever taken on.

Remain claim scooter...