Insurance

[BoredBloke]

Just got a contract through the post and they want £5million of professional indemnity. That seems a little excessive - most providers only offer 1 or 2 million max. Looks like I'm not going to get a tick in that box.

 

[DimPrawn]

£5M?!?

It's getting silly now.

 

[BoredBloke]

No Substitution clause either!

 

[BoredBloke]

Also don't like this clause

where the Supplier is rejected by the client within the first 4 weeks of the assignment and the agreement is terminated as a result, the supplier shall refund all monies paid to the supplier for the assignment

Does this mean, if the client decides that they don't want me within the first 4 weeks that they can get shut and I have to pay back the money earned and already paid to my company?

 

[Dundeegeorge]

Only if you're dumb enough to sign the contract

Only if you're dumb enough to sign the contract

Also don't like this clause

where the Supplier is rejected by the client within the first 4 weeks of the assignment and the agreement is terminated as a result, the supplier shall refund all monies paid to the supplier for the assignment

Does this mean, if the client decides that they don't want me within the first 4 weeks that they can get shut and I have to pay back the money earned and already paid to my company?

And given that you're neither SAS or chicken, I doubt you would.

 

[Mordac]

Also don't like this clause

where the Supplier is rejected by the client within the first 4 weeks of the assignment and the agreement is terminated as a result, the supplier shall refund all monies paid to the supplier for the assignment

Does this mean, if the client decides that they don't want me within the first 4 weeks that they can get shut and I have to pay back the money earned and already paid to my company?

I doubt this is legal, but only an idiot would sign it. Name & shame the agency so we can add to our "avoid like the plague" lists please.

 

[BoredBloke]

The agency is Modis. The contract is a joke.

 

[Swamp Thing]

Just got a contract through the post and they want £5million of professional indemnity. That seems a little excessive - most providers only offer 1 or 2 million max. Looks like I'm not going to get a tick in that box.

That's mad. Whatever you are contracted to do, I'm sure £250K-£500K sum insured is sufficient. Sounds like the customer has pasted in a standard clause to your contract and not thought too deeply on the level of cover. Challenge it politely.

 

[Swamp Thing]

Now that I've read the rest of the thread, yes, I'd walk away from this contract,

 

[BoredBloke]

Just spoken to them. The 5 million - oh don't bother about that!! Why is it on the contract if I don't bother about it. Also said I wanted a substitution clause and the clause above taking off. They are sending me an updated contract.