Hi,
I'm starting a a new assignment/contract in less than a week and need to sort out insurance for my limited company. My contract notes the following :
"The service provider shall :
ensure the provision of adequate Employer’s Liability Insurance, Public Liability Insurance,
Professional Indemnity Insurance and any other suitable policies of insurance in respect
of the Service Provider and the Staff during an Assignment and shall make a copy of
the policy available to the Company upon request."
In this instance, I read this as "all types of insurance stated are mandatory". So I'm looking at getting EL, PL and PI insurance to start with. Can anyone recommend providers who are competitive and who offer comprehensive cover?
My accountant has sent me a link to an affiliated company Knighstbridge Professional Solutions..
I've still to work through the documentation, T's and C's but they're essentially offering the following cover for £371.00 if paid in a one off payment (which seems low to me).
* Professional Indemnity - £1 million
* Public Liability - £5 million
* Employers' Liability - £10 million
* Personal Accident weekly benefit - up to £500 payable for maximum of 52 weeks
* Personal Accident Death benefit - £100,000
* Directors and Officers Liability - £100,000
* Free retroactive cover as standard
The PI cover seems low at £1m. What's your opinion on the required amount of PI cover?
Interestingly, why do I need Employers Liability cover given I'm the only Employee of my company at present?
Really need to get something in place before I start next week.
Thanks everyone.
Regards
Butters
I'm starting a a new assignment/contract in less than a week and need to sort out insurance for my limited company. My contract notes the following :
"The service provider shall :
ensure the provision of adequate Employer’s Liability Insurance, Public Liability Insurance,
Professional Indemnity Insurance and any other suitable policies of insurance in respect
of the Service Provider and the Staff during an Assignment and shall make a copy of
the policy available to the Company upon request."
In this instance, I read this as "all types of insurance stated are mandatory". So I'm looking at getting EL, PL and PI insurance to start with. Can anyone recommend providers who are competitive and who offer comprehensive cover?
My accountant has sent me a link to an affiliated company Knighstbridge Professional Solutions..
I've still to work through the documentation, T's and C's but they're essentially offering the following cover for £371.00 if paid in a one off payment (which seems low to me).
* Professional Indemnity - £1 million
* Public Liability - £5 million
* Employers' Liability - £10 million
* Personal Accident weekly benefit - up to £500 payable for maximum of 52 weeks
* Personal Accident Death benefit - £100,000
* Directors and Officers Liability - £100,000
* Free retroactive cover as standard
The PI cover seems low at £1m. What's your opinion on the required amount of PI cover?
Interestingly, why do I need Employers Liability cover given I'm the only Employee of my company at present?
Really need to get something in place before I start next week.
Thanks everyone.
Regards
Butters
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