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Jatacid, post: 203945 wrote:
Basically they require that we get Public Liability Insurance with 5mil cover.

I only need the cover to meet the requirements of the NEIS program, I don’t particularly need the cover myself, so I want to keep costs down as much as possible.

Jatacid, post: 203955 wrote:
Graphic design industry. And Web Design I guess. So I really don’t need any insurance from what I’ve heard but NEIS requires public liability.

Prices vary so much because different insurers have different risk appetites – some target certain industries so they have either developed special products or they have enough of the same industry so they can ‘spread the risk’ with the premium pool that they receive. Also the policy wordings (fine print as so many people call it) can vary wildly between insurers.

As a Micro and SME insurance broker, I have dealt with a number of NEIS clients and I am quite surprised at the lack of knowledge that NEIS suppliers place on the insurance requirements for businesses – you tell me that they are only needing you to have Public Liability – I would have thought that Professional Indemnity would have been top of your shopping list, then adding on cover for Public Liability?

And as for not needing insurance cover – you only don’t need it if you never make mistakes or never have another party (anywhere – not just your client) that sees your conduct as negligent. From infringement of copyright / misrepresentation / defamation etc, I have seen claims for them all.

As for the cost – it is a part of doing business. I have seen a lot of policies and I can guarantee that the cheapest is not necessarily the best…

Happy for you to put up any questions that you have or if you need me to clarify anything.