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Tess Whitty United States Local time: 23:15 Member (2004) English to Swedish
Jan 25, 2005
Hello colleagues in the US
ATA offers a liability insurance to its members. I am considering it but I would like to know whether or not it is "worth it". Do one need an insurance? How many of you have one? Grateful for your input.
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It depends on how your business is set up. If you're a sole proprietor (not incorporated and not an LLC) and a client sues you for translating something incorrectly, they can go after your personal assets (house, car, savings account, etc..). If you're set up as an LLC or Corporation, they can only go after your business assets, but in either case I would recommend the insurance. It's not terribly expensive, it's a tax write off and will protect you if someone sues you. I'm not a lawyer, ... See more
It depends on how your business is set up. If you're a sole proprietor (not incorporated and not an LLC) and a client sues you for translating something incorrectly, they can go after your personal assets (house, car, savings account, etc..). If you're set up as an LLC or Corporation, they can only go after your business assets, but in either case I would recommend the insurance. It's not terribly expensive, it's a tax write off and will protect you if someone sues you. I'm not a lawyer, but I would talk to one about the policy and together you can decide if it's best. As an agency owner, I can tell you that if a client were to sue me regarding a translation issue, I would in turn sue the translator and proofreader. I have the ATA policy for this reason. Hope this helps! Christina
Terese Whitty wrote:
Hello colleagues in the US
ATA offers a liability insurance to its members. I am considering it but I would like to know whether or not it is "worth it". Do one need an insurance? How many of you have one? Grateful for your input.
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