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Professional Indemnity insurance


binky

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Its insurance renewal time again, and can't put my finger on how much PI insurance I need. Anyone got any suggestions on how to put figure on level of cover required?

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All depends on what sort of work you do and the potential for claims!

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green-hornet

professional indemnity insurance is normally for about

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NozSpark
professional indemnity insurance is normally for about
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i thought that was a prime example of why PI insurance is required for alarm systems. If you gave advice and designed the system and it did not go off due to poor design such as no PIR in a particular room that was robbed, your insurance may have to cough up for this. thats what i always thought any way.

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NozSpark

Indemnity is for professional advice..

Liability is for something you do.

Failure to perform is for if something that you install fails to work.

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green-hornet

I would advise all to read the terms and conditions of any insurance policy.

Whilst all barrack room lwyers can and will state what to us is clear facts, the law and its implications is far from clear.

Profesional indemnity insurance is one example of what we would like to speculate as to what we are covered by.

I have this insurance and my policy still covers me against any neglect of duty, even when installing alarms.

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green-hornet
Indemnity is for professional advice..

Liability is for something you do.

Failure to perform is for if something that you install fails to work.

Liability is when some body or individual can have cause to sue for damage for hardship or personal injury, not being of their fault and where a claim can be lodged against a person responsible for that claim.

This could be damage to property during the normal procedures involved in a given trade, or willfull or accidental damage to a person, the ability of that person to undertake their normal duties, caused by the person being claimed against.

Public liability insurance protects and insures against any liability to a third person who may have reason to claim against you for any inconveniance or injury.

Profesional indemnity insurance is primarily an all cover insurance for tradesmen a professional indemnity insurance policy may cover you for areas such as libel and slander, professional neglect, malicious falsehood, passing off copyrights, breach of confidentiality, and negligent statement or actions.

professional indemnity insurance protects that business's interests against claims for error, omissions, professional neglect for both the principles and their employees.

So as you can see fitting an alarm system that fails to operate properly can and will be covered by your professional indemnity insurance.

If the fault is found to be your negligence, professional neglect,errors,omissions etc etc.

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Binky

you dont need cover

because you are professional and a good bloke ;)

You say the nicest things :x

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professional indemnity insurance is normally for about
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Robin Spark

Might seem a stupid question, but here goes:

You have completed some work all properly tested and certs etc but then the following week property burns down and is going to cost a lot more than 50k to rebuild. So what happens on the insurance/ legal side then?

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Might seem a stupid question, but here goes:

You have completed some work all properly tested and certs etc but then the following week property burns down and is going to cost a lot more than 50k to rebuild. So what happens on the insurance/ legal side then?

That's my issue, albeit legal get out clauses are very important on certs / PIRs. I think that the actual issue here would be covered by Public liability insurance.

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davetheglitz

Starting out - My interpretation was that if you give advice that is wrong - then professional indemnity protects you. I do a lot of PIR's and the question was asked whether my advice could cause death or injury. Of course it could if you gave off the wall crap advice - and my premium was calculated from my response!!! However - needed for NAPIT registration so paid up.

NAPIT now have a tame insurance broker on board - Professional Indemnity, Public Liability and Tool insurance up to 2000 (potentially in an iffy area!) all came in under what I paid last year. Happy!!

I'm sure NAPIT isn't unique - check with your provider if they have any deals!

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SPECIAL LOCATION
Might seem a stupid question, but here goes:

You have completed some work all properly tested and certs etc but then the following week property burns down and is going to cost a lot more than 50k to rebuild. So what happens on the insurance/ legal side then?

Nope thats nowhere near stoopid enough!!!

you will have to try better than that Robin Spark!]:):D:^O

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