Poll: Do you have professional indemnity or income protection insurance?
Thread poster: ProZ.com Staff
ProZ.com Staff
Local time: 23:36
SITE STAFF
Oct 15, 2011

This forum topic is for the discussion of the poll question "Do you have professional indemnity or income protection insurance?".

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Mary Worby  Identity Verified
United Kingdom
Local time: 07:36
Member
German to English
+ ...
Yes, both. Oct 15, 2011

Professional Indemnity insurance through the ITI and separate income protection insurance. The latter strikes me as a much more useful investment than the former, but hopefully I shall never have to use either.

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Angus Stewart  Identity Verified
United Kingdom
Local time: 07:36
Member (2011)
French to English
+ ...
Yes, Professional Indemnity Insurance Oct 15, 2011

In common with Mary I have arranged Professional Indemnity Insurance through ITI. This policy represents excellent value for money and provides peace of mind. Since I am a risk adverse person, I really cannot conceive of undertaking work without having it in place. Accordingly, I was very surprised to see that the overwhelming majority of those who responded to this poll do not have any PII cover.

I can also see the benefits of income protection insurance and so intend to investigate the possibility of arranging this in future.


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HassanLotfy  Identity Verified
Egypt
Local time: 09:36
English to Arabic
+ ...
ITI Oct 15, 2011

Hello,
Does ITI provide that service globally or only in UK? and does ATA provide the same service?


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polyglot45
English to French
+ ...
in France Oct 15, 2011

There is a good deal available via SFT

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Tim Drayton  Identity Verified
Cyprus
Local time: 09:36
Turkish to English
+ ...
No, they are not offered in my location Oct 15, 2011

I cannot find anybody in Cyprus who will provide professional indemnity insurance for translators. If anybody knows different, I will be happy to hear from them.

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Thayenga  Identity Verified
Germany
Local time: 08:36
Member (2009)
English to German
+ ...
Other Oct 15, 2011

Not yet, but getting there fast.

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Mustafa Mahmoud  Identity Verified
Egypt
Local time: 09:36
Member (2014)
English to Arabic
+ ...
No Oct 15, 2011

I don't have any kind of insurance right now

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neilmac  Identity Verified
Spain
Local time: 08:36
Spanish to English
+ ...
No Oct 15, 2011

Do I have what now? No, seriously, I'm not sure how the notion of "professional indemnity" would apply to my broom cupboard services.

In fact, I had to google it to make sure, and Wikipedia defines it as "a form of liability insurance that helps protect professional advice- and service-providing individuals and companies from bearing the full cost of defending against a negligence claim made by a client...". The notion of negligence on my part is anathema to me and if I ever found myself providing negligent services, I'd most likely look for another type of work where accuracy and diligence are less important.

I also had to look up Income Protection Insurance (IPI), defined as an insurance policy paying benefits to policyholders who are incapacitated and hence unable to work due to illness or accident. In this sense, whenever I have been incapacitated, my Spanish social security entitlement has covered my medical and living expenses during those rare periods, so again I don't think I desperately need it. Then again, I don't set much store in property and possessions, nor do I possess many, so I'm probably not a good example.

[Edited at 2011-10-15 15:05 GMT]


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Muriel Vasconcellos  Identity Verified
United States
Local time: 23:36
Member (2003)
Spanish to English
+ ...
No - and I don't think it's necessary for my work Oct 15, 2011

Regarding indemnity, since my texts are not about issues that would involve loss of money or life or limb, I don't see the need. Others may be in a different situation.

As far as loss of income is concerned, I believe it's my responsibility to keep translating regardless of the circumstances. If I break a leg, I can still translate. I translated on a laptop when I was in the hospital. If I lost the use of my hands, I could still dictate. The only incapacity that would keep me from translating would be to lose my mind, and I don't expect someone else to compensate me for that.

My biggest concern would be inability to receive or deliver work via the Internet, and that's not likely to be a long-term condition.


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Kiwiland Bear  Identity Verified
New Zealand
Local time: 20:36
Russian to English
+ ...
A combination: Oct 15, 2011

I have income protection running all the time but only buy PII to cover specific projects and/or for the duration whih I expect to cover both my work on the project and possible follow-ups on that.

The reason I don't have it all the time is the cost. Where I am, the prices for that are pretty much prohibitive for a freelancer unless you are working on a project paying enough to justify the expense.

The reason I take it out when needed is that once upon a time I worked on several Y2K projects (anyone remember those?) and boy, did I see some people burnt badly by the lack of it. Not so much translators, true, but a couple of them were involved as well.


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xxxInterlangue
Angola
Local time: 08:36
English to French
+ ...
See "Quick poll" 23 May 2008 Oct 16, 2011

http://www.proz.com/polls/5243

http://www.proz.com/forum/poll_discussion/105302-poll:_do_you_have_liability_insurance.html


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