Insurances if within IR35?

[oraclesmith]

I have Employers & Public Liability and also PI for £1m from Caunce O'Hara. You could say that you don't need PI unless the client/EB asks, but it depends how litigation-hungry your potential clients might be.

[Back In Business]

I have home insurance that covers employers liability for small businesses run from home. I don't take out indemnity insurance unless the contract/client requires it.

HTH

[auto]

Looking for some advice based on what people are actually doing out there in regards to insurance. Any more insights???

[auto]

Thanks for the responses. Having had a browse through some posts on this board, I was under the impression that many contractors don't bother with the insurances, hence the question.

I know that if I was ever investigated by Gordon's gang, that it would be really difficult to prove I was outside of IR35 due to the working practices of my role. I don't think I can really do anything about it either

[oraclesmith]

Whether you are inside IR35 or not is irrelevant to the client. To them, you are a supplier, whatever your personal tax situation is. If they say you must have suitable PI as part of the contract then you should have it. It costs about £350 pa.

PS. I think this contract term is lifted from firstforcontractors.

[pisces]

How do you know you are inside IR35?

[auto]

I'm just making the transition from PAYE to Ltd company, and have got most things (e.g. company, accountant, etc) set up. I'll still be working for the same client doing the same job, but unfortunately my contract (actually it's the working practices/ role) falls within IR35, so there's no escape for me. It seems I need to have Public Liability Insurance, but do I need Employers Professional Indemnity as I'm only a 1 person company with no other employees? My contract however states:

"The Supplier shall maintain insurance policies in respect of Public and Employers Professional Indemnity liability on terms reasonably satisfactory to the company and shall provide details of such insurance on request."