Professional Indemnity Insurance

Have you got it? What are you paying? Do you wish you'd had it?

[Leonidas]

I'm just working through the process of putting in place the proper accounting, legal and business infrastructure for my sites. Part of this is looking at getting Professional Indemnity cover, which looks as if it might cost up to US$15,000.

I operate a number of sites: what I'm interested in cover for is for situations where people might misuse the information we provide, or launch nuisance lawsuits.

For site operators, do you have PI cover? If you have, what are you paying for it? And if you're getting a good deal, who are you using?

And if you haven't, have you ever wished you'd had it?

[Essex_boy]

I have it for my work costs a £1 per week, never used it and hopfully never will.

[jrzero]

I formed an Limited Liability Corporation (LLC)which in theory provides me from personal liablity protection. Taxes are like a partnership and not as complicated as a Class S corp.

[bmcgee]

I would recommend checking with a lawyer regarding how much any form of incorporation protects you.

Typically, if one files suit, they can/will sue not only the company, but the individual who performed the "deed".

Beware, incorporating does not protect you from needing liability insurance.