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Professional Indemnity - what are you liable for ?
Whitey

WebmasterWorld Senior Member whitey us a WebmasterWorld Top Contributor of All Time 5+ Year Member



 
Msg#: 4118044 posted 12:36 pm on Apr 19, 2010 (gmt 0)

Since contracts don't cover every eventuality, and will be tested anyway when a client is unhappy, how do professional webmasters or agencies protect themselves against risk or failure of some kind ?

What do companies ask from their professional service providers as an indicator and what are the perceived risks they want coverage for?

I've often wondered if the industry has adequate coverage.

 

BeeDeeDubbleU

WebmasterWorld Senior Member beedeedubbleu us a WebmasterWorld Top Contributor of All Time 10+ Year Member



 
Msg#: 4118044 posted 12:58 pm on Apr 19, 2010 (gmt 0)

I work mainly with small businesses in the UK and I have never been asked if I am insured (I am incidentally).

Whitey

WebmasterWorld Senior Member whitey us a WebmasterWorld Top Contributor of All Time 5+ Year Member



 
Msg#: 4118044 posted 11:25 pm on Apr 19, 2010 (gmt 0)

Do you consider the insurance adequate ?

BeeDeeDubbleU

WebmasterWorld Senior Member beedeedubbleu us a WebmasterWorld Top Contributor of All Time 10+ Year Member



 
Msg#: 4118044 posted 8:02 am on Apr 20, 2010 (gmt 0)

Well I have coverage for 1M andit cost me over 300 per annum but as with all insurance you never know if it's right until you try to make a claim. ;)

Actually I only use it to add a bit of credibility to my business. As I said, I deal mainly with small businesses and with the type of work I do I cannot really see any circumstances where they would make a claim on me.

piatkow

WebmasterWorld Senior Member piatkow us a WebmasterWorld Top Contributor of All Time 5+ Year Member



 
Msg#: 4118044 posted 9:16 am on Apr 20, 2010 (gmt 0)

As a comparison musicians consider 3M standard for public liability insurance, and that is the minimum that you would need to play a local authority venue.

Whitey

WebmasterWorld Senior Member whitey us a WebmasterWorld Top Contributor of All Time 5+ Year Member



 
Msg#: 4118044 posted 2:59 am on Apr 21, 2010 (gmt 0)

That's the problem with quantifying the coverage , when you can't imagine what it could be for.

But i think with larger clients they would require a lot more, especially if they are website dependent business'. Let's say , in the eyes of your client , tactics didn't meet expectations , or tactics were perceived to have led to a drop in revenue. And suppose that client was a blue chip business ?

cmendla

10+ Year Member



 
Msg#: 4118044 posted 7:34 pm on Apr 22, 2010 (gmt 0)

I'm not sure how it works outside the US, but in the US, doing business as a corporation or LLC has a lot of advantages. As long as you follow the rules, you should only be able to be sued for the value of your business and not your personal assets.

willybfriendly

WebmasterWorld Senior Member 10+ Year Member



 
Msg#: 4118044 posted 8:13 pm on Apr 22, 2010 (gmt 0)

I'm not sure how it works outside the US, but in the US, doing business as a corporation or LLC has a lot of advantages. As long as you follow the rules, you should only be able to be sued for the value of your business and not your personal assets.


Not always the case. After consulting with out attorney we chose NOT to incorporate. Seems it does not always shield against personal liability (esp for negligence). If you are a one man shop you end up in a situation where the business can be sued and you can also be sued.

The example given was driving a company vehicle through the front of someone's house. If it was an employee driving, the homeowner would make claims against the business and the employee. If you are the only employee, well...

Whitey

WebmasterWorld Senior Member whitey us a WebmasterWorld Top Contributor of All Time 5+ Year Member



 
Msg#: 4118044 posted 10:18 pm on Apr 22, 2010 (gmt 0)

I agree. Staff and executives are very exposed.

LLC or limited companies provides some protection, but not much when it comes to personal responsibilities.

aspdaddy

WebmasterWorld Senior Member 10+ Year Member



 
Msg#: 4118044 posted 1:35 pm on Apr 23, 2010 (gmt 0)

willybfriendly, the above post did state "As long as you follow the rules" - if you are personally negligent nothing will protect you. Liability insurance will onjly protect you from accidents.

The OP mentioned risk of failure, I actually make this contractual.

Whitey

WebmasterWorld Senior Member whitey us a WebmasterWorld Top Contributor of All Time 5+ Year Member



 
Msg#: 4118044 posted 1:12 am on Apr 24, 2010 (gmt 0)

Hmmm ..... but often the rules are not always clear or covered , even in good contracts. Ask a lawyer , it's how they make money.

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