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Old 19.04.2007, 09:45
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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
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  #2  
Old 19.04.2007, 09:51
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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


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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
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  #3  
Old 19.04.2007, 09:54
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Re: Professional Indemnity Insurance (IT contractor)

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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?
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Old 19.04.2007, 09:57
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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

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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?
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Old 19.04.2007, 09:59
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Re: Professional Indemnity Insurance (IT contractor)

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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
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Old 19.04.2007, 10:01
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Re: Professional Indemnity Insurance (IT contractor)

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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
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Old 19.04.2007, 10:02
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Re: Professional Indemnity Insurance (IT contractor)

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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
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Old 19.04.2007, 10:05
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Re: Professional Indemnity Insurance (IT contractor)

No. Nothing so tame.

dave

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

Dom
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  #9  
Old 19.04.2007, 10:21
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Re: Professional Indemnity Insurance (IT contractor)

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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!!!
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Old 19.04.2007, 10:24
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Re: Professional Indemnity Insurance (IT contractor)

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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...
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Old 19.04.2007, 10:50
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Re: Professional Indemnity Insurance (IT contractor)

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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
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Old 19.04.2007, 11:41
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Re: Professional Indemnity Insurance (IT contractor)

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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?
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Old 20.04.2007, 06:44
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Re: Professional Indemnity Insurance (IT contractor)

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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...
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Old 20.04.2007, 14:31
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Re: Professional Indemnity Insurance (IT contractor)

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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
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