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#1 Posted : 11 October 2007 17:01:00(UTC)
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Posted By Ken C Hi all I am starting to look at getting Professional Indemnity Insurance for me to undertake contract Health and Safety work and was wondering what levels other people doing similar work have insured for. I have quotes for all levels from £250k through to £1 Million but am looking at the premiums and thinking that these are getting excessive for what I am likely to be doing. Any information on what others have would be helpful in making sure that I have cover to a similar level to others in the industry. I have already spoken to some prospective Clients and they want me to have £2 Million! I am expecting a turnover well below £100k so do not want to waste money over insuring. Secondly, if anyone has information on helpful insurance brokers I would be interested to hear from them, via private e-mail of course. Many thanks for any help you can give. Regards Ken C.
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#2 Posted : 11 October 2007 17:26:00(UTC)
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Posted By FA £2million wow thats harsh. I know when I was self employed I had £1 million and that seemed to be more than plenty, however that was at the request of a client, I know of alot of consultants just having £250k but I think it depends on what area you are advising in and the level of risk involved, I work in construction so I needed that bit more as it is high risk/complex.
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#3 Posted : 11 October 2007 22:13:00(UTC)
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Posted By John Watson I think it depends upon what work you are looking to undertake. For example our PI is £5m, client driven, but we survey some seriously large sites for them, so in reality £5m is not excessive.
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#4 Posted : 12 October 2007 13:56:00(UTC)
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Posted By Ian G Hutchings Ken I found Simply Business useful, go to http://www.simplybusiness.co.uk/ Levels depend on type of work as well as turn over. Cheers Ian
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