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If your business involves giving people advice, or offering services to other businesses, it would be wise to consider taking out what is known as ‘Professional Indemnity Insurance’. Doctors, IT contractors, consultants, engineers, social workers, accountants, and many other freelancers and contractors all take out Professional Indemnity Insurance. It covers them if mistakes in the advice they give or the service they provide leads to a client’s business suffering a financial loss, or if they are found to have been negligent in providing their services.

Accounts Direct is here to assist you in providing insurance to cover your business. There are many types of insurances, amongst them, the most relevant insurances for contractors and freelancers as below.



Professional Indemnity Insurance is a fairly specialised area – that means you need to make sure you get good quality advice from someone who really understands the market. Whether you’re a doctor, a business consultant, an architect, or any other kind of contractor or freelancer, Accounts Direct can make sure you get the insurance policy that is right for your business.

Professional Indemnity Insurance generally only covers you for claims that you make while your policy is active. That means even if you close your business, you might wish to continue paying for cover for some amount of time afterwards to protect you in case a client makes a claim against you.

It will be much easier to make a claim on your insurance if you have good records of all your interactions with your client, the instructions he has given you and the agreements you have reached. This means it is vital to make sure everything is documented and filed.



If your business employs one or more members of staff, you are legally obliged to take out Employers’ Liability Insurance. In case of Contractors and Freelancers, if you working through a limited company and have only one employee (Yourself) and you own minimum 50% shareholding, then your company is exempt from Employer’s Liability Insurance.

Employers’ Liability Insurance is designed to cover you if one of your employees seeks compensation from you following injury or ill health they have suffered as a result of working for your business. For instance, if your business employs a carpenter and he injures himself with a power tool, your Employers’ Liability Insurance would pay him compensation.

Employers’ Liability Insurance can also cover you against compensation claims that are made by former employees, even a very long time after they have worked for you. For instance, if a carpenter you employed was exposed to asbestos while working for you, and subsequently became ill, the insurance you had when he was working for you would still cover you – however, the policy will only cover you if you still have a record of your cover, so it is vital that you retain all details of Employers’ Liability Insurance policies you have held.



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