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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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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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Rank: Guest
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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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Rank: Guest
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