Why is contractor insurance necessary?
Insurance is a must in the engineering and professional services sectors. It safeguards both your clients and you, ensuring you’re covered for any mishaps or claims. Without it, you might breach contract terms and face financial consequences should issues arise. In essence, it’s what keeps your business thriving when faced with unforeseen claims.
Does Matchtech mandate insurance?
Absolutely. Our ‘Terms of Engagement’ require all contractors working through their own Limited Company to have the correct insurance in place before commencing. This includes Professional Indemnity Insurance, Public Liability Insurance, and Employers Liability Insurance – plus any client-specific requirements.
What insurances do I need, and what do they cover?
- Professional Indemnity: Protects against claims of professional negligence, errors, omissions, or misguided advice.
- Public Liability: Covers incidents of injury or damage caused while you’re on duty.
- Employers Liability: A legal necessity that guards against employee claims, a must for many clients, covering even sole traders.
Do I need to maintain insurance after completing an assignment?
Yes, our terms stipulate that Professional Indemnity cover should remain active for at least six years post-assignment, as claims may arise after the fact.
Can I stick with my current provider?
Yes, if your existing insurance meets our requirements, simply inform Kingsbridge and send us a copy of your certificate/schedule to insurance@matchtech.com. While we believe Kingsbridge provides an excellent package, you’re welcome to explore other options, just ensure you have documented evidence before starting any assignment.
Remember, in the dynamic contractor world, safeguarding your career isn’t just smart; it’s essential. Stay protected with Kingsbridge and Matchtech.