PI conditions

[abc111]

Many thanks all -relieves me to a certain extent..

[SueEllen]

Cheaper than 499 for a highly regarded provider?

But if you insist...

https://www.moneysupermarket.com/bus...nal-indemnity/

And check who is underwriting the policy before you buy it.

[Lance]

Thanks. Its to do with maintaining it after this contract.
I am structural engineering consultant -any recommendations for good/ cheaper PI provider for future.

Why not just drop down to a lower cover after you move?
The only reason for having £5m is to show them you're covered. You only keep cover after just in case. So there;s no need to have the full cover for ever after unless you think you've tuliped them for £5m of demonstrable cost.

[northernladuk]

Cheaper than 499 for a highly regarded provider?

But if you insist...

https://www.moneysupermarket.com/bus...nal-indemnity/

[abc111]

Assuming that Design Verification Consultant is an IT role. And that it's just you as the consultant. Then £5m cover is £399 from Qdos. £2m for £209.
Either way it's not that expensive as a cost of doing business. And if they want £5m cover then you are doing quite important work so getting paid > £500 a day. So even at £1000 cover that's <1% of your revenue.

Thanks. Its to do with maintaining it after this contract.
I am structural engineering consultant -any recommendations for good/ cheaper PI provider for future.

Many thanks.

[Lance]

Over 1000! that's the thing this client has higher PI demand -last client and the one to follow is likely to be 500.
Where to get 5million PI for 240? PM me that will be great!

Assuming that Design Verification Consultant is an IT role. And that it's just you as the consultant. Then £5m cover is £399 from Qdos. £2m for £209.
Either way it's not that expensive as a cost of doing business. And if they want £5m cover then you are doing quite important work so getting paid > £500 a day. So even at £1000 cover that's <1% of your revenue.

[stek]

Sure I had similar requirement when at DVLA, QDOS did it for only a bit extra, can't remember exactly how much PI was required exactly but it was significantly higher than the norm...

[abc111]

anyone..

[abc111]

Just pay for it and carry on. Your next gig is likely to need it, and the next. What is it. Like 240 quid?

Over 1000! that's the thing this client has higher PI demand -last client and the one to follow is likely to be 500.
Where to get 5million PI for 240? PM me that will be great!

Many thanks.

[northernladuk]

Just pay for it and carry on. Your next gig is likely to need it, and the next. What is it. Like 240 quid?

[abc111]

Yep.

In theory they can come and sue you after the contract has finished if they found your work to be defective.

..and what if I was working on employer's indemnity.

any work I complete with PI now should be covered by existing PI..why would I have to maintain it for a later stage..would I not be able to invoke previous (expired) PI at a later date..

what is the way out of it -how to go rightly about it?

Many thanks.

[SueEllen]

Yep.

In theory they can come and sue you after the contract has finished if they found your work to be defective.

[abc111]

Hi
I am working as design verification consultant for an insurance client on contract basis. I am working using my own PI which is renewed on annually basis. I am wondering once I leave the client would then would I have to keep renewing my PI for the projects that I had worked for that client?
I can not find any clause about this neither in my client contract nor in the terms provided by the PI provider.

Thanks.