professional insurance
Is there a group one can join to get liability and Errors & Ommissions insurance? as an individual the rates are egregious compared to group rates. Dave Cramer
You may want to check this with a lawyer but one solution would be to run all your work through an incorporated business that has no real assets. That way your personally protected and the company has nothing worth suing for. Nobody is going to sue a company that does not have enough assets to pay for the lawyer fees. Having a big fat insurance company backing you will make you a huge target for legal action. On 09/01/2016 03:52 PM, Dave Cramer via talk wrote:
Is there a group one can join to get liability and Errors & Ommissions insurance? as an individual the rates are egregious compared to group rates.
Dave Cramer
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-- Alvin Starr || voice: (905)513-7688 Netvel Inc. || Cell: (416)806-0133 alvin@netvel.net ||
Well first off I leave money in my company for the future at a reduced rate Second, my client is asking for it. Dave Cramer On 1 September 2016 at 16:03, Alvin Starr via talk <talk@gtalug.org> wrote:
You may want to check this with a lawyer but one solution would be to run all your work through an incorporated business that has no real assets.
That way your personally protected and the company has nothing worth suing for.
Nobody is going to sue a company that does not have enough assets to pay for the lawyer fees.
Having a big fat insurance company backing you will make you a huge target for legal action.
On 09/01/2016 03:52 PM, Dave Cramer via talk wrote:
Is there a group one can join to get liability and Errors & Ommissions insurance? as an individual the rates are egregious compared to group rates.
Dave Cramer
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-- Alvin Starr || voice: (905)513-7688 Netvel Inc. || Cell: (416)806-0133alvin@netvel.net ||
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Dave, Bullfrog Insurance, a local company, is run by a friend and offers liability insurance at what I believe to be competitive rates, and it's all online. As you say some clients now require liability coverage. Errors and Omissions is trickier, as I understand it, as it depends on your experience level, etc.. One consulting firm I know of pays about $3000 a year for that kind of coverage. I haven't purchased either type of insurance yet. http://bullfroginsurance.com/ Ian On Thu, Sep 1, 2016 at 3:52 PM, Dave Cramer via talk <talk@gtalug.org> wrote:
Is there a group one can join to get liability and Errors & Ommissions insurance? as an individual the rates are egregious compared to group rates.
Dave Cramer
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-- ===== Ian Garmaise Consultant Phorix Solutions Group ian.g@phorixsol.com Skype: iantor Toronto cell: 416.432.2251 NYC: 917.512.9535 http://www.PhorixSol.com
On Thu, 2016-09-01 at 16:12 -0400, Ian Garmaise via talk wrote: [ ... ]
Errors and Omissions is trickier, as I understand it, as it depends on your experience level, etc.. One consulting firm I know of pays about $3000 a year for that kind of coverage. I haven't purchased either type of insurance yet.
I had it once upon a time when a client required it. My insurance broker found something, and it cost 5% of gross billings. I was lucky then that my client billings covered that comfortably, so I didn't look around for group coverage. Mel.
Not exactly sure what risk has to do with billings... wish I'd have known that before I had submitted my application Dave Cramer On 1 September 2016 at 20:39, Mel Wilson <mwilson@vex.net> wrote:
On Thu, 2016-09-01 at 16:12 -0400, Ian Garmaise via talk wrote: [ ... ]
Errors and Omissions is trickier, as I understand it, as it depends on your experience level, etc.. One consulting firm I know of pays about $3000 a year for that kind of coverage. I haven't purchased either type of insurance yet.
I had it once upon a time when a client required it. My insurance broker found something, and it cost 5% of gross billings. I was lucky then that my client billings covered that comfortably, so I didn't look around for group coverage.
Mel.
participants (4)
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Alvin Starr -
Dave Cramer -
Ian Garmaise -
Mel Wilson