[LINK] Indemnity and Liability Insurance for ICT in AU

Brendan Scott brendansweb at optusnet.com.au
Thu Jun 11 12:51:14 EST 2009


Richard Chirgwin wrote:
> George Bray wrote:
>> Linkers,
>> I'm looking for recommendations on a firm to provide professional
>> indemnity and public liability insurance. It's for a small ICT
>> consultancy performing software development.
>>
>> I know the ACS has a scheme, and it's likely to cost about $1500pa
>> with ACS membership.  Are there other options I should know about?
>>
>> I didn't know it's such a risky business!
>>
>>From a friend's experience, while I won't say what's good or bad, I will say
> "read the policy - or better still get a lawyer to read the policy".
> 
> Because if you ever do need someone to pay for a legal defence, you don't want
> to find that the insurer says "sorry, not covered". Especially a few weeks and
> tens of thousands into the case. And you *bet* that happens...

If you can, try to find out about the insurer's reputation for paying/denying/honouring claims, as well as their financial backing.

No point (eg) taking a cheapo option which makes you fight them in order to make a claim (unless you're just taking it so you can honestly say you have $x in coverage).

Regards


Brendan 

  



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