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Posted on October 3, 2009 by Lauren | Posted under Insurance
Education Consultant Insurance Professional Indemnity (PI) Insurance
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Withthe government aiming to provide a world class education for all,educational consultancy has become a huge industry. Today, thousands ofhighly skilled consultants are engaged by Local Education Authorities(LEA's) Schools & Agencies to improve chances for children, be itdriving up education standards or building schools for the future. Despite the stellar work education consultants contribute tosociety they are not immune from risks of the business world. Like anyother 'professional' who provides advice or services, they arepersonally liable for any errors or omissions they make during thecourse of their work. Only recently a headmistress tried to sue OFSTEDinspectors for interfering with teaching & failing to recognise herschools achievements despite being judged to have the best leaguetable record in the country for improving pupil performance. So in todays 'compensation culture' where clients don't thinktwice about suing, what financial protection is available to educationconsultants if things go wrong? Professional Indemnity Insurance For Education Consultants. A number of UK brokers offer tailored professional indemnity insuranceschemes for education consultants. Professional indemnity (pi)indemnifies professionals against their legal liabilities to thirdparties for injury loss or damage arising from their negligent acts,errors or omissions committed in the cause of their professional duties- including the costs associated with defending spurious allegations.It provides financial peace of mind, as without it, you could find itextremely expensive to defend yourself. PI prices typically start ataround £150 per annum for £100k of cover rising to circa £350 for £1million. Ensure your properly covered. Make sure the professional indemnity policy is underwritten by areputable insurer & covers the key activities you are likely tocarry out such as; Education consultancy, training, OFSTED inspections,vocational guidance etc. Its also worth checking if the policy providesretroactive cover, which covers work carried out in the past. One important aspect to bear in mind when consideringprofessional indemnity insurance is that it is written on a 'claimsmade arising' basis. So when you cease trading, retire, or take apermanent job, it is wise to purchase run-off cover for at least 12months after that in case a claim is made against you, after yourpolicy has expired, for work done previously.. About The Author: Freelance Insurance Indemnity Insurance |
Tags: FREELANCE INSURANCE, PROFESSIONAL INDEMNITY INSURANCE
