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  • #987495
    ShaniW
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    • Total posts: 32
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    Hi all,

    I offer Life Coaching services and am looking to add social media consulting and management to my mix. My business is mainly virtual.

    I’ve spent 30 minutes on the phone today to GIO who tell me I need an extra policy because Life Coaching won’t cover the new services, but that I can’t get insurance with them because I provide services to clients in the USA.

    Does anyone know of an insurance company that will cover me for the social media management/consulting portion of my business and that allows me to pay by the month? (I already have professional indemnity and public liability for the coaching services)

    I thought asking here might save me hours and hours on the phone!

    Many thank
    Shân

    #1163012
    MissSassy
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    Try AON insurance, just send an email enquiry and they get back to you

    #1163013
    alliedib
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    • Total posts: 453
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    Hi Shan,

    I got your email (thank you – and thank you for the well wishes) … I will discuss that with you separately but try to answer your post for the benefit of others…

    Many professional indemnity policies are written under a ‘miscellaneous’ wording (ie not specific to an occupation or industry). As such, you may be able to specify what you do ( and the percentages for each activity) and have the insurer cover the activities accordingly. This may be more likely through policies placed through a broker rather than direct with an insurer – in some instances many PI insurers will not deal direct with the general public, writing their policies only through brokers. You may also have more luck tying to get cover for USA/Canada – this is a common exclusion but some insurers may look at it.

    With monthly instalments, most PI insurers will not offer Pay By The Month. You will generally need to Premium Fund the policies (borrow the money from a 3rd party financier who will settle the insurer – you then repay instalments with interest). It may cost more (with the interest) but you get the added protection of the of it being harder to cancel the policy (if for some reason the instalment dishonours). Pay By The Month policies can be cancelled by the insurer after two consecutive dishonours (which may occur – change of bank details etc) – if the policy is cancelled then there is the issue of your ‘retroactive date’ being reset – this is of great concern for PI policies.

    Hopefully this makes sense – I will hopefully be able to return your email tomorrow.

    regards,

    Mark

    #1163014
    mike_0785
    Member
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    Hi Shan,

    In a similar boat, I would like to get insurance for USA/Canada.

    Just wondering how you went with this?

    Cheers

    Michael

    #1163015
    alliedib
    Member
    • Total posts: 453
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    Hi Mike,

    Just sent you a PM in response to your PM – let me know if you didn’t get it.

    Regards,

    Mark

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