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Insurance - client named as additional insured

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    Insurance - client named as additional insured

    We have a large software vendor as a client and are looking to sign up to a partnership agreement.

    Part of this agreements states that as well having standard insurance, that we need to have the vendor named as an additional insured.

    Has anyone had to do anything similar? It seems a bit much to me but didn't know if it was standard practice.

    Thanks

    #2
    I don't know if it will help but I'm going through a similar process in reverse. I.E my PI insurance provider will not cover me because of the nature of my work, so I went shopping for a new policy. A Lloyds syndicate is my only option.

    My client looked into having their corporate policy cover my activities. The result: No. Not possible, the new premium is not realistic for them. Expected really.

    So now my invoice to them includes my new overheads.

    If you're client wants you to cover them then fine, when they ask why so expensive, you'll have a good answer.

    You also might want to negotiate some limited liability in the contract either in £'s or as a % of the contract value.
    "Never argue with stupid people, they will drag you down to their level and beat you with experience". Mark Twain

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      #3
      Thanks.

      I asked the insurance company but they didn't know what I was talking about. I guess it can't be that common then, or certainly not for contractors / small businesses.

      Yes, very limited liability is usually put into all the contracts I can control. I'm not sure how much I can negotiate with this one but going to give it a go.

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