Reply to: Insurance - Advice

[Elvis1964]

Try qdos shop. You can also get discounts through certain partners they work with.

[cojak]

Thanks for the suggestion. I wanted to find the quickest route to a definitive answer on all the questions I had, not each one peace meal. I was also trying to wade through the insurance quotes that I'd gathered at the time, reading pages and pages about exclusions, conditions etc (DRY), so thought the best use of my time was to seek the wisdom of the experienced and available. All being well, next time I have a question I'll feel more of an inclination to dig myself.

http://forums.contractoruk.com/welco...e-newbies.html

[Butters]

Seeking wisdom of the experienced

OP, bearing in mind nearly every contract has insurance it would be a fair bet that this has been asked a couple of thousand times so a quick search or a tiny bit of effort to do your research I am sure would have answered your question a lot quicker than that post.

Thanks for the suggestion. I wanted to find the quickest route to a definitive answer on all the questions I had, not each one peace meal. I was also trying to wade through the insurance quotes that I'd gathered at the time, reading pages and pages about exclusions, conditions etc (DRY), so thought the best use of my time was to seek the wisdom of the experienced and available. All being well, next time I have a question I'll feel more of an inclination to dig myself.

[GazCol]

Why? In what scenario?

Historical claims; working with asbestos, hearing loss, etc.

I guess personal injury claims too, if a sole director working as a roofer breaks their back and can't work any longer I can't imagine they'd be that bothered about claiming against their own policy.

We'll probably see a spate of claims in twenty years time from IT contractors for RSI, some with it worse than others.

[Project Monkey]

I would imagine it's quite common for tradesmen.

Why? In what scenario?

[GazCol]

Has anyone ever made claim against their own ltd co.?

I would imagine it's quite common for tradesmen.

[Project Monkey]

I never bother with PI cover that's higher than the cost of the project unless it is stipulated in the contract.

You need EL because as an employee you're a separate legal entity from your company.

I tend to go with AXA or Hiscox, their rates seem to change on a monthly basis though so there's no way of telling who'll be cheaper other than getting a quote - sometimes it's cheaper to get the PL/EL together with one carrier and then the PI with another; rather than buying all 3 from the same insurer.

Has anyone ever made claim against their own ltd co.?

[Project Monkey]

Standard answers - QDOS or a discount on Randell Dorling via PCG membership.

ELI because you do have a substitution clause (don't you) and you need ELI to use a subbie (or anyone else) working under your control. No ELI and the judge will deem your RoS a sham. And it only costs fourpence anyway.

No reason why you couldn't take out ELI as and when you need it. That is, when you decide to put in a subbie.

[TheCyclingProgrammer]

Apologies, I didn't realise this was updated in 2005.

No worries.

I'm guessing however, that making a spouse or partner your company secretary would be enough to make it required. Something I'm currently planning. Time to update my policy...

[GazCol]

It's not a misconception if there is a sole director. No idea where you're getting the above from.



http://www.hse.gov.uk/Pubns/hse40.pdf

Apologies, I didn't realise this was updated in 2005.

[malvolio]

Mal, if you want to keep making that assertion then perhaps you could cite the case law?

If there were case law, then I'd quote it. I'm going on legal opinion from the likes of Lawspeed and Abbey.

If you want to be pedantic, you need ELI if you have a worker under your control, so you don't need ELI unless you exercise your RoS. But given the cost is sod all, and a tiny percentage of the value of the average contract (as is PI and PLI, come to that, mine is less than a day's charges and I pay for a full policy), it makes sense to have it there full time.

[TheCyclingProgrammer]

One of the most popular misconceptions in relation to Employers’ Liability Insurance is that if an incorporated or
Limited Company solely has Directors and no ‘employees’ that the business has no requirement to buy the cover.

This is not the case, at law, an incorporated company is separate legal entity and as such, the company acts as the Employer of the director(s) and thus creates a duty to purchase Employers’ Liability Insurance.

It's not a misconception if there is a sole director. No idea where you're getting the above from.

Does the law apply to me?
You need employers’ liability insurance unless you are exempt from the Employers’ Liability (Compulsory Insurance) Act. The following employers are exempt:
■ most public organisations including government departments and agencies, local authorities, police authorities and nationalised industries;
■ health service bodies, including National Health Service trusts, health authorities, primary care trusts and Scottish health boards;
■ some other organisations which are financed through public funds, such as passenger transport executives and magistrates’ courts committees;
■ family businesses, ie if all of your employees are closely related to you (as husband, wife, civil partner, father, mother, grandfather, grandmother, stepfather, stepmother, son, daughter, grandson, granddaughter, stepson, stepdaughter, brother, sister, half-brother or half-sister). However, this exemption does not apply to family businesses which are incorporated as limited companies;
■ companies employing only their owner where that employee also owns 50% or more of the issued share capital in the company.

http://www.hse.gov.uk/Pubns/hse40.pdf

[GazCol]

Mal, if you want to keep making that assertion then perhaps you could cite the case law?



Wut?

Previous thread on ELI here.

One of the most popular misconceptions in relation to Employers’ Liability Insurance is that if an incorporated or
Limited Company solely has Directors and no ‘employees’ that the business has no requirement to buy the cover.

This is not the case, at law, an incorporated company is separate legal entity and as such, the company acts as the Employer of the director(s) and thus creates a duty to purchase Employers’ Liability Insurance.

[Contreras]

No ELI and the judge will deem your RoS a sham.

Mal, if you want to keep making that assertion then perhaps you could cite the case law?

You need EL because as an employee you're a separate legal entity from your company.

Wut?

Previous thread on ELI here.

[northernladuk]

OP, bearing in mind nearly every contract has insurance it would be a fair bet that this has been asked a couple of thousand times so a quick search or a tiny bit of effort to do your research I am sure would have answered your question a lot quicker than that post.