Professional indemnity insurance
Thread poster: Kristina Wolf

Kristina Wolf  Identity Verified
Australia
Local time: 16:54
Member (2004)
Spanish to German
+ ...
Jun 12

Dear all,

Does anyone have any recommendations for a professional indemnity insurance?
I am trying to get a quote with Fenton Green (Ausit recommended), but they want a NAATI accreditation which I don't have as I work exclusively for clients' abroad and all invoices in AUD which for the same reason I can't provide.

Thanks for any pointers,

Kristina


 

Dylan Jan Hartmann  Identity Verified
Australia
Member (2014)
Thai to English
+ ...

MODERATOR
Ask yourself whether it's necessary? Jun 13

Hi Kristina,

I was looking at this 4 years ago and decided it was unnecessary (for me).

https://www.proz.com/forum/translation_in_australia/273769-insurance_for_translators_in_australia.html


I've only had one instance in my translation lifetime where it might've been helpful but the client who threatened went silent.

https://www.proz.com/forum/translation_in_australia/319553-have_i_broken_confidentiality_with_this_non_payer_what_do_i_do_next.html

Hope these previous threads are helpful!

Dylan


 

Kristina Wolf  Identity Verified
Australia
Local time: 16:54
Member (2004)
Spanish to German
+ ...
TOPIC STARTER
Thanks Dylan, but... Jun 13

Thanks Dylan, but... I got a client (a very good client) in the UK who is asking for it.

 

Daria Bontch-Osmolovskaia
Australia
Local time: 16:54
English
+ ...
BizCover Jun 13

Hi Kristina,

Mine was through BizCover - the actual insurer was AIG Australia Limited. BizCover website allows you to input Translator/Interpreter as an occupation, application was a very smooth process.

I carried $1 mil in Professional Indemnity, at the time it cost about $800 per year. Didn't bother about 3rd party, and put a clause in my consultancy agreement that I won't be responsible for 3rd party damages. No NAATI rubbish required - I never had a stamp either, and nobody cared about it.icon_smile.gif

I worked with a lot of direct clients, mining & engineering companies, so PI insurance was a necessity & peace of mind for me. Thankfully, I never had to use it.

Hope that helps!

D.



[Edited at 2018-06-13 01:30 GMT]


 

Dylan Jan Hartmann  Identity Verified
Australia
Member (2014)
Thai to English
+ ...

MODERATOR
That makes sense then! Jun 13

Getting NAATI certified and joining AUSIT would then give you discounts for these as well as PD sessions and various other professional support services. I wouldn't write it off completely. I had done so in the past because, like you, I have a large and profitable international client base but becoming certified opened up a new, high-paying market where our services are highly appreciated and we're respected as being accredited professionals. There is a difference and my only regret is not having done it sooner.

 


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