# Professional Indemnity Insurance Costs



## MkII (Apr 29, 2013)

A quick question on insurance and freelancing...

I am registered as an autonomo and work with IT and software development. An incoming contract requires "Errors and Omissions" (professional liability) insurance.

Back in the UK, this costs about 200 ukp per year, but here I can only find quotes that are about 10x this. I have only managed to find two brokers, both of whom are selling the same policy.

Does anyone have any experience with this kind of thing, and any suggestions as to how bring the cost down?! What with the SS retencions, the fixed costs of trying to work here are crippling...

Thanks,

Mark


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## Brit in Chile (Oct 27, 2013)

*Professional Indemnity Insurance*

I am in a similar situation to you, struggling to find a provider while living abroad. I was just wondering if you ever got this sorted out and found a company that covers you while living abroad.


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## MkII (Apr 29, 2013)

No. In the end, I was able to negotiate contract terms without the insurance requirement, at a cost of two months delay and damaged relations with the client (a US multinational, which does not discard rules lightly).

Death/injury liability insurance for shops/agriculture, no problem. Indemnity for high-technology, no way.

Never have I met a country so actively hostile to anyone trying to build/run a high-technology business where most of the clients are overseas - whether it is the tax, the insurance or the customs system.


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## Brit in Chile (Oct 27, 2013)

*Thanks*

Thanks for taking the trouble to respond to me. Wishing you all the best.


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## gus-lopez (Jan 4, 2010)

Couldn't you have used a UK insurer ?


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## Brit in Chile (Oct 27, 2013)

The question may not be directed at me but I have tried about 7 so far (UK insurers) and they have all rejected me, usually because they don't cover me for living abroad.


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## Brit in Chile (Oct 27, 2013)

Found one. Westminster Indemnity. That will cover me even though living in Chile however for business operating out of UK address and with US/Canada exclusion.
Might not work if my business operations really were in Chile, but they are OK with me living there.


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