Professional Indemnity Insurance

[Bill84]

Hi
I am starting a ltd company, I did a contract review and unfortunately I fall inside the IR35.
My question is regarding Professional Indemnity Insurance - I found out that I do not need Employers or Public Liability insurance, and by contract I am not required professional indemnity insurance either but would I need it. I am trying to think of different possible scenarios but I cant think of any, can anybody help pls.
Thanks
Bill

[TheCyclingProgrammer]

If you have no contractual requirement then the simple answer is no, the better answer is: it depends on the sector you work in and what level of risk there is of something coming back and biting you.

I'm no fan of insurance for insurance sake but it's not that expensive and you may need it for a future contract.

Your IR35 status doesn't really come into it.

[Bill84]

Thanks for that.
I will always be at the clients office, coordinating training, ie making sure that everybody goes to the right place etc.

[DiscoStu]

Hi
I am starting a ltd company, I did a contract review and unfortunately I fall inside the IR35.
My question is regarding Professional Indemnity Insurance - I found out that I do not need Employers or Public Liability insurance, and by contract I am not required professional indemnity insurance either but would I need it. I am trying to think of different possible scenarios but I cant think of any, can anybody help pls.
Thanks
Bill

What makes you think you don't need Public Liability Insurance? If you're working on a client site then for the couple of quid a week it's likely to cost it would seem sensible to have cover in place.

[SueEllen]

What makes you think you don't need Public Liability Insurance? If you're working on a client site then for the couple of quid a week it's likely to cost it would seem sensible to have cover in place.

You generally don't need public liability insurance if the client company doesn't share facilities with other companies.

If you go off-site to give training/meetings in different places then you may need it depending on the location you got to.

I only first got it because I was working on a site where the toilets and kitchen was shared with other companies. There was a notice making it clear that each company needed their own public liability insurance as the company running the site didn't cover individual companies.

Now I have it because it's bundled with some of my other insurances.

[DiscoStu]

You generally don't need public liability insurance if the client company doesn't share facilities with other companies.

If you go off-site to give training/meetings in different places then you may need it depending on the location you got to.

I only first got it because I was working on a site where the toilets and kitchen was shared with other companies. There was a notice making it clear that each company needed their own public liability insurance as the company running the site didn't cover individual companies.

Now I have it because it's bundled with some of my other insurances.

Why? If I were to accidentally destroy some of client co's equipment or a permie were to trip over my laptop's power cable doing themselves an injury and decide to sue me then it'd be coming out of my co's pocket if I didn't have PLI.

[Bill84]

Well, I dont have my own computer or anything, Public liability insurance Im 99% that I dont need unless somebody can come up with an example that would apply to me, Just a guy goes to an office, and coordiantes stuff. Thats all.
Anyway what I m interested in is Professional indemnity Insurance - any ideas?
Thanks

[SueEllen]

Well, I dont have my own computer or anything, Public liability insurance Im 99% that I dont need unless somebody can come up with an example that would apply to me, Just a guy goes to an office, and coordiantes stuff. Thats all.
Anyway what I m interested in is Professional indemnity Insurance - any ideas?
Thanks

QDOS sell it.

[SueEllen]

Why? If I were to accidentally destroy some of client co's equipment or a permie were to trip over my laptop's power cable doing themselves an injury and decide to sue me then it'd be coming out of my co's pocket if I didn't have PLI.

If I accidentally destroyed a client's laptop then it would be cheaper for my company to reimburse them for it then to claim on any insurance even if the cost was more. I don't touch any other equipment of a client that is more expensive.

If a permie tripped over my laptop cable they would go after their employer first as permies don't know what insurances we do and don't have, and most clients would be aware of what insurances we have due to what was agreed with the agency. The employer's insurance would then only chase you if they knew you were insured and the claim was massive.

[DiscoStu]

Well, I dont have my own computer or anything, Public liability insurance Im 99% that I dont need unless somebody can come up with an example that would apply to me, Just a guy goes to an office, and coordiantes stuff. Thats all.
Anyway what I m interested in is Professional indemnity Insurance - any ideas?
Thanks

You accidentally spill hot coffee on someone. They get burned and decide to sue you.

You accidentally spill coffee on the computer your client's provided, they ask you to pay for a replacement.

You leave a bag where someone could trip over it, they do and decide to sue you for costs of ongoing medical treatment and loss of earnings because the fall caused a back injury.

Your call, of course, but as a contractor you don't have an employer to fall back on for support, you're on your own.