Professional Indemnity Insurance - What to choose?
Thread poster: ACMTRAD
| Become a member in a professional translators' organization! || Feb 5, 2004 |
Professional translators' organization often have arranged special deals with insurance companies offering E&O, so it would be worth your while to inquire and purchase a membership. As an example, I pay a modest $120.00 per year for a coverage of $2,000,000 per loss period and $1,000,000 per loss, with a deductible $ 500.00 per loss.
Hope this helps!
Thanks a lot for your help
It is cheaper than I expected and I think it is worth considering
Again, thanks a lot and all the best
| Thanks Andrew! || Feb 8, 2004 |
That's very helpful! Would you mind emailing me the name of the insurance provider (or are you allowed to post it here?), or can I get it from the ITI? (I emailed them a couple of weeks ago to ask about insurance and apparently they are slow about emails too)
Thanks a lot!
| Thank you Andrew! || Feb 9, 2004 |
Thanks a lot Andrew! I think joining the ITI is probably the best option.
I asked for a couple of quotes and to have a cover worth £250,000 I would have to pay near £500/year, which I think is a lot.
| | Dr Andrew Read
Local time: 17:59
German to English
| ITI's insurance broker || Feb 9, 2004 |
Hilary Davies wrote:
That's very helpful! Would you mind emailing me the name of the insurance provider (or are you allowed to post it here?), or can I get it from the ITI? (I emailed them a couple of weeks ago to ask about insurance and apparently they are slow about emails too
Thanks a lot!
The provider is:
MFL Professional Partnerships
Scheme co-ordinator: Amie Talbot
Direct line: 0161-237 7730
However, note that you can't get the cheap rates directly from them. You have to join the ITI, wait till you get your membership approved, then return the special insurance forms and remittance to ITI themselves.
For assoc members, the annual cost of £250k's worth of cover is currently only £133.88, and like I say, you only pay a proportion if you join part way through. But by the time all the forms are processed, next year's scheme will probably be starting (running from 1 May).
Hope this helps you and others!
Just a thought - if you're desperate for cover right away, you could ask the broker if they'll insure you at a non-ITI rate for just a few months till the membership comes through.
[Edited at 2004-02-09 17:42]
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