Results 1 to 12 of 12
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09-10-2012, 10:57 AM #1
professional indeminity insurance
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?
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09-10-2012, 12:09 PM #2
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09-10-2012, 02:36 PM #3
Re: professional indeminity insurance
its for consultants and tm44 energy assessors, people who give advice etc
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09-10-2012, 02:39 PM #4
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09-10-2012, 04:15 PM #5
Re: professional indeminity insurance
yes you will need it then i think, google it sure you find something.
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09-10-2012, 05:51 PM #6
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09-10-2012, 06:22 PM #7
Re: professional indeminity insurance
.
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
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09-10-2012, 06:51 PM #8
Re: professional indeminity insurance
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?
alMostly found in the southern part of this green and pleasant land.
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09-10-2012, 08:55 PM #9
Re: professional indeminity insurance
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.
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09-10-2012, 09:55 PM #10
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10-10-2012, 05:04 PM #11
Re: professional indeminity insurance
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.Training may be finished but experience is never complete.
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11-10-2012, 12:01 AM #12
Re: professional indeminity insurance
I have it as standard with my policy. I'll look at it in the morning and let you know what it says.
Eggs