Question for "First 4 Trades Insurance"

[PC Electrics]

Can an advisor from our sponsor please answer this question definitively:

In addition to the usual

 

[Sidewinder]

PC this is a question also for yoru scheme provider.

However, think on it this way.

PL insurance will cover you for tangible things.

IF you are doing a PIR, you are proviing your Professional opinion on the state of the installation.

There is nothing tangible being done.

They key is also in the wording "Professional".

I'll leave you to think about that one.

However, it is doubtful that your PL would pay out in a case where by there was loss, or injury following you providing your professional opinion on an installation.

 

[PC Electrics]

I'm asking because there appears to be considerable difference of opinion about this subject amongst sparks. I noticed recently that we have an insurance sponsor, so thought that someone who advises on insurance needs could give a definitive answer (which can be seen by all).

 

[Sidewinder]

PC,

I appreciate this, my input relates how this was explained to my by an insurance broker, who at the time was not in a position to take my business!

Just trying to help.

 

[kme]

For what its worth......

I do NOT have PI insurance; and here`s why:

IF I limit my "obs & recs" to stuff I can back up with a reg, and make sure my "extent & limits" boxes are correctly identifying what I do and do not take responsibility for, what purpose can it serve?

I believe it appeared on the electrical scene shortly after the part p / DI debacle -its designed (IMO) to protect those not as "clued up" as they perhaps should be.

We`ve done (& continue to do) PIRs on a commercial, international hotel chain, through a head contractor. No PI insurance was asked about or requested, from ANY of the interested parties (PLI had to be

 

[m4tty]

How much was

 

[NozSpark]

Could PI also cover you for things that you might miss??

Hopefully you shouldn't miss anything, but if you didn't inspect that faulty socket?????

 

[kme]

How much was

 

[a1]

I will mate.

 

[Sidewinder]

KME,

You, would not claim on your PI the other party would claim on you, & your PI would kick in to defend you and cover the costs of this and any costs of the other party if you lost, however, it is in their interests to win as the claim will be smaller!

 

[kme]

Yup, ok. I worded that badly (blame the Rhum).......

"your PI would kick in"? On ALL cases against you? Or just the ones THEY deemed appropriate ( read "winnable")?

Or am I becoming far too cynical in my old age?

 

[Sidewinder]

Dunno, cynic

 

[Apache]

I do NOT have PI insurance; and here`s why:IF I limit my "obs & recs" to stuff I can back up with a reg, and make sure my "extent & limits" boxes are correctly identifying what I do and do not take responsibility for, what purpose can it serve?

I believe it appeared on the electrical scene shortly after the part p / DI debacle -its designed (IMO) to protect those not as "clued up" as they perhaps should be.

We`ve done (& continue to do) PIRs on a commercial, international hotel chain, through a head contractor. No PI insurance was asked about or requested, from ANY of the interested parties (PLI had to be

 

[ADS]

Can an advisor from our sponsor please answer this question definitively:In addition to the usual

 

[SPECIAL LOCATION]

NAPIT insist on it if you want to do PIRs under their name -

 

[ADS]

Hi Specs,

 

[SPECIAL LOCATION]

For what its worth......I do NOT have PI insurance; and here`s why:

IF I limit my "obs & recs" to stuff I can back up with a reg, and make sure my "extent & limits" boxes are correctly identifying what I do and do not take responsibility for, what purpose can it serve?

I believe it appeared on the electrical scene shortly after the part p / DI debacle -its designed (IMO) to protect those not as "clued up" as they perhaps should be.

We`ve done (& continue to do) PIRs on a commercial, international hotel chain, through a head contractor. No PI insurance was asked about or requested, from ANY of the interested parties (PLI had to be

 

[a1]

I know that one member has had and accepted a quote from our forum sponsor First 4 Trades Insurance.

But has anyone else had a quote from them and/or taken out insurance with them? (PM me if you prefer).

 

[First4 Trades]

Hello, and sorry for the late reply. First off I have to be clear that we are not allowed to offer 'Advice' under our Financial Services Authority regulation - only information for people to make decisions on. Reading though the replies the question seems to have been answered, but for your information:

Public Liability insurance covers a business for things like injuries to others - for example a window cleaners ladder falling onto somebody. The injured party would be able to claim compensation on the window cleaners public liability insurance.

Professional Indemnity insurance covers your work and or professionally advised opinion. Again, as an example, if you installed a load of new wiring, signed off as fully compliant to regulations etc and then the house burned down as a direct result of your work, you would claim on your PI policy.

They are not the same type of insurance cover. Hope this information has been helpful!

 

[First4 Trades]

Further to my last post, I have received the following information from our FSA principal which I believe will help:

The standard PL policy exclusion refers to `professional services' which are performed or provided separately for a fee or under a separate contract. Which would probably be applied in the circumstances you have outlined so the answer would be `YES' it is necessary.

Also a PL policy does not cover pure financial loss so depending on the clients trade there could be a potential exposure there as well.

There are some occupations - alarm installation/electrical/plumbing & ventilation etc where the PL offered by some insurers includes an element of PI cover as these trades design and install or do one or the other so there can be circumstances where there could be a dispute over which policy applies, hence it makes since to have both with the same insurer.

On the question of the indemnity limit, this is always the clients decision and will depend on their individual situation and the work they undertake in their business. It is not possible to provide generic answers