Here is an excerpt from a well known agency's contract regarding limited liability, professional indemnity, public liability insurance etc.
3.7 The Company shall have in place, policies of insurance of sufficient value to cover the provision of services pursuant to the agreement, including but not limited to Employers Liability, Professional Indemnity and Public Liability and which shall cover any loss suffered or incurred by the Employment Business and/or the Client and their respective officers or employees or any third party by the act of negligence or omission of the Company. ....
What I'm wondering about is - what is sufficient value? When buying an insurance policy you can buy a £1 million worth of cover, £0.5 million worth of cover etc.
The other point is the "including but not limited to Employment Liability, Professional Indemnity...." bit. How can anyone insure against any other types of cover if the type of cover you have to insure against isn't known?
Perhaps these are moot points: I've never heard of an employer claiming against these types of policy. Has anyone?
3.7 The Company shall have in place, policies of insurance of sufficient value to cover the provision of services pursuant to the agreement, including but not limited to Employers Liability, Professional Indemnity and Public Liability and which shall cover any loss suffered or incurred by the Employment Business and/or the Client and their respective officers or employees or any third party by the act of negligence or omission of the Company. ....
What I'm wondering about is - what is sufficient value? When buying an insurance policy you can buy a £1 million worth of cover, £0.5 million worth of cover etc.
The other point is the "including but not limited to Employment Liability, Professional Indemnity...." bit. How can anyone insure against any other types of cover if the type of cover you have to insure against isn't known?
Perhaps these are moot points: I've never heard of an employer claiming against these types of policy. Has anyone?
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