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Turtle  
#1 Posted : 02 March 2013 11:07:22(UTC)
Rank: Forum user
Turtle

I am set up as a Limited Company but to date have not actually used it. I am now engaging in contrcat work and need to know what I need in terms of insurance. I am sole entity in company, no employees.
Zyggy  
#2 Posted : 04 March 2013 09:22:00(UTC)
Rank: Super forum user
Zyggy

I would suggest Professional Indemnity & Public Liability as a minimum, although some clients may insists on Employer Liability Insurance even though it is not really required in your current situation! Good luck! Zyggy
David Bannister  
#3 Posted : 04 March 2013 09:23:26(UTC)
Rank: Super forum user
David Bannister

Turtle, the answer depends entirely on what activities your company will be carrying out: can you cause harm or financial loss to anyone? How likely? How much? What will your customers demand? If you are undertaking hands-on site activities you need to consider dropping the proverbial spanner in the works, or on somebody's head: Public liability insurance. If you are offering advice that could lead to financial loss or others making costly errors: Professional Indemnity Insurance. Motor insurance if driving is a requirement. Travel insurance may be appropriate for some journeys. Personal income protection/illness/life insurance may all be appropriate depending on your circumstances. HOWEVER, as this is a safety & health site, not a financial/insurance forum it may be better to seek advice from somebody more competent in this subject: an insurance broker who specialises in small business in your field of activity.
Phil Grace  
#4 Posted : 04 March 2013 09:27:48(UTC)
Rank: Super forum user
Phil Grace

Turtel, I'm with Zyggy on this. As regards your status as a "sole trader" do you anticipate employing contractors? Bona fide sub-contractros (as we call them in the insurance world) are fine - just check that they have suitable and sufficient insurance, both Public and Employers Liabiltiy. Thing could become more difficult if you employe so-called Labour only sub-contractors. They may/may not have EL.... if they do not the buck may stop with you if they are regarded as being your employees. Remember the tried and tested questions to establish a master/servant relationship. Do you direct the methods of work? Do you supply tools or materials? etc Phil
bob youel  
#5 Posted : 04 March 2013 12:36:37(UTC)
Rank: Super forum user
bob youel

U need to take advice and quickly as the inland rev can be very hard NB: You are not a sole trader if you are operating within your limited company
imwaldra  
#6 Posted : 04 March 2013 17:50:45(UTC)
Rank: Super forum user
imwaldra

Read the IOSH guide for consultants, lots of good advice there - under 'Books & resources' above.
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