Professional Indemnity Insurance

Hello

I am new to freelancing and I have been asked to supply details of my professional indemnity insurance for a new contract.

I have tried to get quotes online and I have called a couple of insurance brokers but it is proving a lot harder than I first anticipated.

Can anyone provide any recommendations or guidance of where I can purchase the insurance?

Many thanks in advance!

Comments

  • Can you tell us what it is you are doing? I'm an outsourced paraplanner and I don't have (or see the need for) PI insurance. It's not my name on the advice report; I'm simply providing the service but it is the advice firm's responsibility to ensure it's correct before it gets presented to the client.

    I did actually look into it at the start but the insurers decided that I wouldn't be able to work on DB transfers and it would have cost me an arm and a leg; I didn't see there was any point.

    Others on here may have a different view :smile:

  • Hi Andy
    Thank you for your response.
    The contract is for paraplanning services for a wealth management firm. No DB work, just existing arrangement reviews and possible switches.
    The contract is via a recruitment agency and they are the ones specifying that I need to have the insurance.
    As it is extremely difficult to get a quote, I was assuming it would be rather expensive (if I do receive a quote at all!?).
    I think I will push back and see what they say.

    many thanks again.

  • richallumrichallum Administrator
    edited January 19

    Hiscox is the only company offering terms for new risks and only want sole traders or very small firms to limit the risks. I did a full review of the market in December and that's it.

    Paraplanner. F1, Apple, Nutella, ice cream. No trite motivational quotes. Turning a bit northern. Republican.

Sign In or Register to comment.