English Forum Switzerland

English Forum Switzerland (https://www.englishforum.ch/forum.php)
-   Insurance (https://www.englishforum.ch/insurance/)
-   -   Professional Indemnity Insurance (IT contractor) (https://www.englishforum.ch/insurance/6164-professional-indemnity-insurance-contractor.html)

rdab100 19.04.2007 09:45

Professional Indemnity Insurance (IT contractor)
 
Hi all,

What are the rules and who provides PI cover in Switzerland for IT contractors?

In UK >50% of clients and agents wanted to see the policy docsbefore start of contract. Here not been asked for anything,UK PI cover doesn'tcover working out here so wondering about if I need any? The contract seems to indicate I would be liable for mistakes but no talk of PI insurance. I assume this would be tax dedcutable anyway?

Regards,

Dom

Guest 19.04.2007 09:51

Re: Professional Indemnity Insurance (IT contractor)
 
Who demands it ? I've never been asked for it in 20 years, either in UK or here.

dave


Quote:

Originally Posted by rdab100 (Post 52564)
Hi all,

What are the rules and who provides PI cover in Switzerland for IT contractors?

In UK >50% of clients and agents wanted to see the policy docsbefore start of contract. Here not been asked for anything,UK PI cover doesn'tcover working out here so wondering about if I need any? The contract seems to indicate I would be liable for mistakes but no talk of PI insurance. I assume this would be tax dedcutable anyway?

Regards,

Dom


Richard 19.04.2007 09:54

Re: Professional Indemnity Insurance (IT contractor)
 
Quote:

Originally Posted by rdab100 (Post 52564)
Hi all,

What are the rules and who provides PI cover in Switzerland for IT contractors?

In UK >50% of clients and agents wanted to see the policy docsbefore start of contract. Here not been asked for anything,UK PI cover doesn'tcover working out here so wondering about if I need any? The contract seems to indicate I would be liable for mistakes but no talk of PI insurance. I assume this would be tax dedcutable anyway?

Regards,

Dom

As a contractor you are responsible for the indemnity insurance. It is relatively cheap and available from most insurance companies ie take your pick. The only question that sort of challenges this statement is your relationship to the company you are providing a service to. If this is through an agency then you are probably not self employed and the onus will switch to the agency. So what is your employment status/relationship?

Guest 19.04.2007 09:57

Re: Professional Indemnity Insurance (IT contractor)
 
Unless your company has significant assets, you are unlikely to be sued in the event of a serious claim. If you have such a policy , you certainly will be as the lawyers eyes light-up.

If you are doing any job involving real risk, the cost of indemnity insurance is likely to be prohibitive in any case.

dave

Quote:

Originally Posted by Richard (Post 52566)
As a contractor you are responsible for the indemnity insurance. It is relatively cheap and available from most insurance companies ie take your pick. The only question that sort of challenges this statement is your relationship to the company you are providing a service to. If this is through an agency then you are probably not self employed and the onus will switch to the agency. So what is your employment status/relationship?


rdab100 19.04.2007 09:59

Re: Professional Indemnity Insurance (IT contractor)
 
Quote:

Originally Posted by DaveA (Post 52565)
Who demands it ? I've never been asked for it in 20 years, either in UK or here.

dave

Worked for 15 years or so in pharma, insurance and banks and like I said ,50% ask for it, mostly depending on what the work is... then I do production support and one mistake in an IB trading system can cost a lot to fix!

If you haven't been asked for it maybe not working on business critical systems?

Dom

rdab100 19.04.2007 10:01

Re: Professional Indemnity Insurance (IT contractor)
 
Quote:

Originally Posted by DaveA (Post 52568)
Unless your company has significant assets, you are unlikely to be sued in the event of a serious claim. If you have such a policy , you certainly will be as the lawyers eyes light-up.

If you are doing any job involving real risk, the cost of indemnity insurance is likely to be prohibitive in any case.

dave

Only 300-500/year for 5 million cover in UK... but then renewed same policy for few years. Never had to claim :-)

Dom

rdab100 19.04.2007 10:02

Re: Professional Indemnity Insurance (IT contractor)
 
Quote:

Originally Posted by Richard (Post 52566)
As a contractor you are responsible for the indemnity insurance. It is relatively cheap and available from most insurance companies ie take your pick. The only question that sort of challenges this statement is your relationship to the company you are providing a service to. If this is through an agency then you are probably not self employed and the onus will switch to the agency. So what is your employment status/relationship?

True but contract small print does state liability is mine.

Dom

Guest 19.04.2007 10:05

Re: Professional Indemnity Insurance (IT contractor)
 
No. Nothing so tame.

dave

Quote:

Originally Posted by rdab100 (Post 52569)
If you haven't been asked for it maybe not working on business critical systems?

Dom


Richard 19.04.2007 10:21

Re: Professional Indemnity Insurance (IT contractor)
 
Quote:

Originally Posted by rdab100 (Post 52571)
Only 300-500/year for 5 million cover in UK... but then renewed same policy for few years. Never had to claim :-)

Dom

My wife has a massive risk job and pays SFr. 150 for SFr. 5 Mio cover... so what is with the only!!!

Richard 19.04.2007 10:24

Re: Professional Indemnity Insurance (IT contractor)
 
Quote:

Originally Posted by rdab100 (Post 52572)
True but contract small print does state liability is mine.

Dom

If you are an employee of an agency they can state what the hell they like in the small print BUT they are obliged legally to provide cover for you. Only in the case of gross negligence will your insurance cover then be needed and again in that case your insurance will probably not cover you either...

rdab100 19.04.2007 10:50

Re: Professional Indemnity Insurance (IT contractor)
 
Quote:

Originally Posted by Richard (Post 52580)
If you are an employee of an agency they can state what the hell they like in the small print BUT they are obliged legally to provide cover for you. Only in the case of gross negligence will your insurance cover then be needed and again in that case your insurance will probably not cover you either...


OK sounds like carry on and I do not worry.

:-)

Dom

gbn 19.04.2007 11:41

Re: Professional Indemnity Insurance (IT contractor)
 
Quote:

Originally Posted by Richard (Post 52579)
My wife has a massive risk job and pays SFr. 150 for SFr. 5 Mio cover... so what is with the only!!!

Is she self-employed, through a Gmbh, standard employee or pimped by an agency?

Richard 20.04.2007 06:44

Re: Professional Indemnity Insurance (IT contractor)
 
Quote:

Originally Posted by gbn (Post 52638)
Is she self-employed, through a Gmbh, standard employee or pimped by an agency?

She can be the first or the third of your choices depending on the situation...

nickatbasel 20.04.2007 14:31

Re: Professional Indemnity Insurance (IT contractor)
 
Quote:

Originally Posted by DaveA (Post 52565)
Who demands it ? I've never been asked for it in 20 years, either in UK or here.

dave

I never had it in the UK; however having PII is seen as one pointer to being outside IR35 - albeit a very weak one.

Cheers,
Nick


All times are GMT +2. The time now is 00:50.

Powered by vBulletin® Version 3.8.4
Copyright ©2000 - 2021, Jelsoft Enterprises Ltd.
LinkBacks Enabled by vBSEO 3.1.0