professional indeminity insurance

[r.bartlett]

We have just been asked for a copy of this but we're never had any.

Doe's anyone her have any experience of this?

[monkey spanners]

We have just been asked for a copy of this but we're never had any.

Doe's anyone her have any experience of this?

Is this the same as liability insurance?

[leegally1983]

its for consultants and tm44 energy assessors, people who give advice etc

[r.bartlett]

its for consultants and tm44 energy assessors, people who give advice etc

we are acting as principle contractors and they want us to hold design liability which is why they want a copy of our insurance.

[leegally1983]

yes you will need it then i think, google it sure you find something.

[r.bartlett]

yes you will need it then i think, google it sure you find something.

funnily enough I have already Googled it. I was asking here for advice and recommendations...

[Rob White]

.

I have just been involved in some energy assessor qualifications
and one of the points made clear to us was the need of professional
indemnity insurance.

Basically if you or your company make any mistakes or miscalculations
then you will protected.

About £5 million cover was mentioned.

Regards

Rob

.

[al]

If the design buck stops with you then you need this, seperate to other insurance. Bit pricey in this country, but then what isn't?

al

[frank]

Normally, if you design a system, biscuit tin or any other 'thing' as your company, then the design reponsibilities for that design working to the clients specification lie with you, as the designer.(your company)


If you act as a design company for someone else to install your design, then the responsibility for the design working lies with you (your company) not the installer. Bacially as Leegally1983 said.

If you are designing and installing your own design, you don't need it.

This is why so many 'design & build' jobs are out there.

Professional Indemnity Insurance is only really needed if you (your company) is acting as the designer for a third party installer.

[r.bartlett]

Normally, if you design a system, biscuit tin or any other 'thing' as your company, then the design reponsibilities for that design working to the clients specification lie with you, as the designer.(your company)


If you act as a design company for someone else to install your design, then the responsibility for the design working lies with you (your company) not the installer. Bacially as Leegally1983 said.

If you are designing and installing your own design, you don't need it.

This is why so many 'design & build' jobs are out there.

Professional Indemnity Insurance is only really needed if you (your company) is acting as the designer for a third party installer.

If you carry design liability then we should all have it. Even for a single split should it not cool the roomas well as anticipated?

[chilliwilly]

I always thought that professional indeminity was just a word used for a legal definition of liability insurance cover.

When you declare your duties and type of business, the insurance company carries a risk assessment of any potential hazards and likely hood of the liability of blame that's likely to occur whilst carrying out your duties and business. Then qoute you a price based on the required level of compensation cover.

I would love to see the charts and the source of information that they use to carry out the risk assessment to decide the likely hood of liability of blame.

If one of your declared duties is designing then that will have been incorporated into the level of risk when calculating your level of cover.

On mine I'm only covered for trade activity duties but not for admin activities.

The niceic and gas safe need to see at least £2000000.00 level of cover for your declared duties when they come for their annual assessment on your business.

[eggs]

I have it as standard with my policy. I'll look at it in the morning and let you know what it says.

Eggs